Retirement Terminology Sample Clauses

Retirement Terminology. The parties agree that wherever the foregoing Contract refers to “service retirement”, it shall be deemed to include “those members qualifying for service retirement under the existing police pension laws.” It is specifically understood that police service retirement shall require twenty-five (25) years of service unless otherwise changed by law.
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Retirement Terminology. Retirement benefits shall be provided to eligible employees in accordance with the appropriate, then existing, contract(s) between the County and the Public Employees Retirement System (PERS). The use of terms “Classic Member” and “New Member” shall be as defined by XxxXXXX and the Public Employee Pension Reform Act of 2013 (PEPRA). For ease of reference, a summary of these definitions is provided below, however, the definitions set forth in the CalPERS statutes and regulations, as applied by CalPERS, shall control.
Sample 1
Retirement Terminology. Retirement benefits shall be provided to eligible employees in accordance with the appropriate, then existing, contract between the City and the California Public Employees’ Retirement System (CalPERS). The use of terms “classic member” and “new member” shall be as defined by XxxXXXX and the Public Employee Pension Reform Act of 2013 (PEPRA). For ease of reference, a summary of these definitions is provided below, however, the definitions set forth in the CalPERS statutes and regulations, as applied by CalPERS, shall control.
Sample 1
Retirement Terminology. Employees will receive retirement benefits from the California Public Employees Retirement System (CalPERS). A “New Member” is defined in Government Code section 7522.04(f) as any of the following:  An individual who becomes a member of a qualifying public retirement system for the first time on or after January 1, 2013, and has no prior membership in any other qualifying public retirement system; or  An individual who becomes a member of a qualifying public retirement system for the first time on or after January 1, 2013, and is not eligible for reciprocity with another qualifying public retirement system; or  An individual who established prior membership in a qualifying public retirement system and after a break in service of more than six (6) months, returns to active membership in that system with a new employer.
Sample 1

Related to Retirement Terminology

  • Leave When Employment Terminates 31.7.1 Except as provided in sub-clause 31.7.3, when the employment of an employee is terminated for any reason, the employee or his estate shall, in lieu of earned but unused vacation leave, be paid an amount equal to the product obtained by multiplying the number of days of earned but unused vacation leave by the daily rate of pay applicable to the employee immediately prior to the termination of his employment.

  • Fixed Term Employees 31. The only terms of this Agreement that apply to employees who are not regular employees are those that are set out in Articles 31A, 32, 33 and 34. ARTICLE 31A – FIXED-TERM EMPLOYEES OTHER THAN SEASONAL, STUDENT AND GO TEMP EMPLOYEES (FXT) 31A.1 Articles 31A.2 to 31A.16 apply only to fixed-term employees other than seasonal, student and GO Temp employees.

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