Bona fide retirement definition

Bona fide retirement means a retirement by a vested member which meets the requirements of section 97B.52A and in which the member is eligible to receive benefits under this chapter.
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Bona fide retirement means that the retired member has been absent from service with all participating employers and all employers in a controlled group with a participating employer for at least six full calendar months between the effective date of retirement and the date of hire.¶
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Bona fide retirement means that the Employee has voluntarily terminated employment with the Company and its Subsidiaries during the Second Restriction Period for a reason other than (i) to take full-time, or substantially full-time, employment with any other employer, person or entity (in whatever capacity) within twenty-four (24) months from his termination of employment date, or (ii) at any time, Employee engages in any activity in competition with any activity of the Company or any Subsidiary, or inimical, contrary or harmful to the interests of the Company or any Subsidiary without the consent of the Company, in each case as determined by the Committee in the exercise of its discretion (each a “Prohibited Activity”), including without limitation, the following Prohibited Activities:
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Examples of Bona fide retirement in a sentence

  • The Board, in its sole discretion, will determine whether Executive meets certain age and service criteria set by the board, and whether Executive therefore qualifies for a Bona Fide Retirement under this section.

  • During the Term, if the Executive’s employment is terminated by the Company without Cause as provided in Section 3(d), or the Executive terminates his employment for Good Reason as provided in Section 3(e) or for a Bona Fide Retirement, as provided in Section 3(g), then the Company shall pay the Executive his Accrued Benefit.


More Definitions of Bona fide retirement

Bona fide retirement means a complete cessation of all employment relationships between the member and any participating employer, regardless of whether the position is one that participates in TRS, and that there shall be no prearranged agreement prior to retirement between the member and any participating employer that the member will be reemployed or otherwise return to work for the employer in any capacity.
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Bona fide retirement means the Participant’s Retirement during which the Participant does not:
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Related to Bona fide retirement

  • Eligible Retirement Plan means an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the Distributee's Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving Spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity.

  • Disability retirement for plan 1 members, means the period

  • Eligible Retiree means a retired employee of the GROUP who is receiving retirement benefits from GROUP and is entitled to Medicare part A and enrolled in Medicare part B. If this Agreement includes Group Plan 65, an Eligible Retiree who selects Group Plan 65 shall be eligible as an individual. Such Eligible Retiree shall not be deemed to have any dependents who can select Group Plan 65.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Retirement Age means the earlier to occur of:

  • Normal Retirement Age means the Executive's 65th birthday.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Severance from Service Date means the earlier of:

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

  • Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.