Tier 2 Retiree definition

Tier 2 Retiree means your combined age and years of Qualified Service place you in Tier 2 reflected on Exhibit A attached hereto as of the date of your Qualified Retirement.
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Examples of Tier 2 Retiree in a sentence

  • In exchange for the valuable consideration set forth in this Agreement, Retiree, on behalf of him/herself, his/her heirs, estate, executor, administrator, successors and assigns, does fully release and forever discharge the City and each of its officers, employees, consultants, attorneys, successors and/or assigns, both past and present and both officially and individually from any claims regarding the right to Tier 1 and Tier 2 Retiree medical benefits under any MOU.

  • For employees hired before July 1, 2011, and retiring from the City on or after January 1, 2012 (“Tier 2 Retirees”), the City agrees to provide a premium reimbursement for the purpose of purchasing health coverage offered through CalPERS for the Tier 2 Retiree and their spouse in an amount not to exceed the monthly premium applicable to the coverage level for the retiree (i.e. Employee Only or Employee + spouse) up to $505.63 for employees only and up to $1,011.26 for employee + spouse.

  • The parties understand and agree that this Agreement shall operate as a complete bar against any and all litigation, charges, complaints, or grievances now pending or contemplated or which might at any time be filed, arising out of or in any manner whatsoever connected with the Tier 1 and Tier 2 Retiree medical benefits, other than those that may arise from a breach of this Agreement.

  • The Premium Payment shall be payable in the following form: (1) PEMHCA Minimum contribution payable directly to CalPERS, and (2) a reimbursement to the Tier 2 Retiree equal to the difference between the cost of plan in which the Tier 2 Retiree enrolls, subject to the foregoing cap, and the PEMHCA Minimum contribution (“Reimbursement”).

  • CONCLUSIONAs required by the County, LACERA must enroll all new members hired after June 30, 2014 in the new Tier 2 Retiree Healthcare Benefits Program.

Related to Tier 2 Retiree

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Disability retirement for plan 1 members, means the period

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Special Retirement means an Optionee’s termination of employment or service with the Employers and Affiliates on or after the later of (i) the Optionee’s attainment of age 62 and (ii) the Optionee’s Early Retirement Date or Normal Retirement Date, as such terms are defined in the Telephone and Data Systems, Inc. Pension Plan.

  • Approved Retirement means any voluntary termination of employment that occurs on or after the date on which the sum of your age and years of employment with Deluxe and/or its Affiliates equals at least seventy-five (75) and that is approved by the Compensation Committee of the Board.

  • 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.

  • Qualified Retirement means a retirement from Service by the Executive in which, at the time of such retirement, the sum of the Executive’s age and aggregate 12-month completed periods of Service (whether or not such completed 12-month periods are consecutive), in each case without giving credit for any partial years, equals or exceeds 75.

  • 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)).

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

  • Continuing care retirement community means a residential

  • Mandatory Retirement means termination of employment pursuant to the Company’s mandatory retirement policy.

  • Supplemental Retirement Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

  • CIC Qualifying Termination means a Separation (A) within twelve (12) months following a Change in Control or (B) within three (3) months preceding a Change in Control (but as to part (B), only if the Separation occurs after a Potential Change in Control) resulting, in either case (A) or (B), from (i) the Company terminating the Executive’s employment for any reason other than Cause or (ii) the Executive resigning his or her employment for Good Reason. A termination or resignation due to the Executive’s death or disability shall not constitute a CIC Qualifying Termination. A “Potential Change in Control” means the date of execution of a legally binding and definitive agreement for a corporate transaction which, if consummated, would constitute the applicable Change in Control (which for the avoidance of doubt, would include, for example, a merger agreement, but not a term sheet for a merger agreement). In the case of a termination following a Potential Change in Control and before a Change in Control, solely for purposes of benefits under this Agreement, the date of Separation will be deemed the date the Change in Control is consummated.

  • Compensation Accrued at Termination means the following:

  • Change in Control Benefit means the benefit described in Section 2.4.

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

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • Qualifying Employee means any employee of Managing Agent or Parent or any of their respective subsidiaries who is and has been an employee of Managing Agent or Parent or any of their respective subsidiaries for at least thirty-six (36) months.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Newly hired employee or “New Hire” means any employee, whether permanent, full-time, or part-time, hired by the Office and who is still employed as of the date of new employee orientation. It also includes all employees who are or have been previously employed by the Office and whose current position has placed them in the bargaining unit represented by CSEA. For those latter employees, for purposes of this article only, the “date of hire” is the date upon which the employees’ employment status changed as such that the employee was placed in the CSEA unit.

  • Change in Control Benefits means the following benefits:

  • Termination After Change in Control means either of the following events occurring within twelve (12) months after a Change in Control:

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