Application for Retirement Clause Samples

The 'Application for Retirement' clause outlines the process by which an individual formally notifies their employer or relevant authority of their intention to retire. Typically, this clause specifies the required method of application, such as submitting a written notice, and may set out any necessary advance notice periods or documentation that must be provided. By establishing clear procedures and expectations, this clause ensures a smooth transition for both the retiring individual and the organization, minimizing misunderstandings and allowing for effective planning.
Application for Retirement. 22 4.7 Age Discrimination in Employment Act . . . . . . . . . . . . . . . . 22
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Application for Retirement. As a prerequisite to the commencement of a retirement benefit hereunder, a Participant otherwise entitled thereto shall file with the Committee an application for such benefit at least thirty-one (31) days prior to the Participant's retirement date.
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Application for Retirement. A. Those employees who seek to participate in the Buyout shall submit a letter of intent to the Board to retire on or before July 1 of the year they are eligible and intend to retire under the statute and the rules governing the S.E.R.S. Such letter must be submitted to the Board no later than March 1 of the calendar year of retirement or thirty (30) days before the effective date of retirement, whichever is sooner. B. After receipt of the letter of intent to retire from the employee exercising this Retirement Incentive, the Board will verify that the applicant meets all of the requirements of the plan and issue such notice within thirty (30) calendar days of application. Neither the Board nor the employee may withdraw from this action after the Board notifies the employee that he/she has met the requirements for this Retirement Incentive.
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Application for Retirement. A. Those employees who seek to participate in the Retirement Incentive shall submit a letter of intent to the Board to retire effective July 1 of the year they are eligible and intend to retire under the statute and the rules governing the STRS. Such letter must be submitted to the Board no later than March 1 of the calendar year of retirement. B. After receipt of the letter of intent to retire from the certificated/licensed employee exercising this Retirement Incentive, the Board will verify that the applicant meets all of the requirements of the Plan and issue such notice within thirty (30) calendar days of application. Neither the Board nor the certificated/licensed employee may withdraw from this action after the Board notifies the employee that he/she has met the requirements for this Retirement Incentive.
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Application for Retirement. An eligible bargaining unit member must give written notice of the member’s intent to retire to the Board of Education by April 15 of the year in which the member first meets the eligibility requirements of Section 2 of this Article and must provide to the District Administration appropriate STRS service retirement documentation by June 1 of the year in which the member first meets the eligibility requirements of Section 2 of this Article.
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Application for Retirement. When the Employee becomes eligible for a retirement benefit and wishes to retire, he shall apply for such benefits by signing an application form furnished by the Company and shall also furnish the Company with such documents, evidence, data, or information in support of such application as the Company considers necessary or desirable.
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Related to Application for Retirement

  • TERMINATION UPON RETIREMENT Termination of Executive’s employment based on “

  • Termination Due to Retirement Upon termination of the Executive based on Retirement, no amounts or benefits shall be due the Executive under this Agreement, and the Executive shall be entitled to all benefits under any retirement plan of the Company and other plans to which the Executive is a party. Termination of the Executive’s employment based on “Retirement” shall mean termination of the Executive’s employment in accordance with a retirement policy established by the Board with the Executive’s consent.

  • Death, Retirement or Disability Executive’s employment shall terminate automatically upon Executive’s death or Retirement during the Employment Period. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or if there is no such retirement plan, “Retirement” shall mean voluntary termination after age 65 with ten years of service. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability” shall mean a mental or physical disability as determined by the Board of Directors of the Company in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, “Disability” shall mean the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental condition which has lasted (or can reasonably be expected to last) for twelve workweeks in any twelve-month period. At the request of Executive or his personal representative, the Board’s determination that the Disability of Executive has occurred shall be certified by two physicians mutually agreed upon by Executive, or his personal representative, and the Company. Failing such independent certification (if so requested by Executive), Executive’s termination shall be deemed a termination by the Company without Cause and not a termination by reason of his Disability.

  • Termination of Service for Cause If your Service is terminated by the Company for Cause or if you commit an act(s) of Cause while this Option is outstanding, as determined by the Committee in its sole discretion, then you shall immediately forfeit all rights to your Option without consideration, including any vested portion of the Option, and the entire Option shall immediately expire, and any rights, payments and benefits with respect to the Option shall be subject to reduction or recoupment in accordance with applicable Company policies and the Plan. For avoidance of doubt, your Service shall also be deemed to have been terminated for Cause by the Company if, after your Service has otherwise terminated, facts and circumstances are discovered that would have justified a termination for Cause, including, without limitation, your violation of Company policies or breach of confidentiality or other restrictive covenants or conditions that may apply to you prior to or after your Termination Date.

  • TERMINATION FOR DISABILITY OR DEATH (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days. (b) Executive shall be entitled to receive benefits under all short-term or long-term disability plans maintained by the Bank for its executives. To the extent such benefits are less than Executive’s Base Salary, the Bank shall pay Executive an amount equal to the difference between such disability plan benefits, Social Security disability benefits and the amount of Executive’s Base Salary for the longer of one (1) year following the termination of his employment due to Disability or the remaining term of this Agreement, which shall be payable in accordance with the regular payroll practices of the Bank. (c) The Bank shall cause to be continued non-taxable medical and dental coverage substantially comparable, as reasonably available, to the coverage maintained by the Bank for Executive prior to the termination of his employment based on Disability, except to the extent such coverage may be changed in its application to all Bank employees or not available on an individual basis to an employee terminated based on Disability. This coverage shall cease upon the earlier of (i) the date Executive returns to the full-time employment of the Bank; (ii) Executive’s full-time employment by another employer; (iii) expiration of the remaining term of this Agreement; or (iv) Executive’s death. (d) In the event of Executive’s death during the term of this Agreement, his estate, legal representatives or named beneficiaries (as directed by Executive in writing) shall be paid Executive’s Base Salary at the rate in effect at the time of Executive’s death in accordance with the regular payroll practices of the Bank for a period of one (1) year from the date of Executive’s death, and the Bank shall continue to provide non-taxable medical, and dental insurance benefits normally provided for Executive’s family (in accordance with its customary co-pay percentages) for twelve (12) months after Executive’s death. Such payments are in addition to any other life insurance benefits that Executive’s beneficiaries may be entitled to receive under any employee benefit plan maintained by the Bank for the benefit of Executive, including, but not limited to, the Bank’s tax-qualified retirement plans.