Bridge to Retirement Sample Clauses

The 'Bridge to Retirement' clause establishes a transitional arrangement for employees approaching retirement age, allowing them to gradually reduce their working hours or responsibilities before fully retiring. Typically, this clause outlines eligibility criteria, the duration of the transition period, and any adjustments to salary or benefits during this phase. Its core function is to provide a structured and predictable pathway for both the employer and employee, facilitating workforce planning and supporting employees in managing the shift from full-time work to retirement.
Bridge to Retirement. 15.4.1 A bridge to retirement plan allows a Member to phase into retirement with a workload reduction of fifty per cent (50%). Annual workload responsibilities will be reduced proportionately once a future appointment termination date has been declared.
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Bridge to Retirement. ‌‌ 15.4.1 A bridge to retirement plan allows a Member to phase into retirement with a workload reduction of up to fifty per cent (50%). Annual workload responsibilities will be reduced proportionately once a future appointment termination date has been declared. 15.4.2 With the agreement of the ▇▇▇▇, a bridge to retirement plan will begin on July 1 and will end on June 30. The plan will be for twelve (12) or twenty-four (24) months. 15.4.3 The Member will continue to receive health and dental benefits as long as the Member continues to meet benefits eligibility requirements, and all income-driven benefits contributions and premiums — short term disability (STD) and long term disability (LTD) premiums — will be prorated, as will vacation and sick leave entitlements.
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Bridge to Retirement. A declared surplus employee who is close to retirement may wish to exchange severance pay for a working bridge to retirement subject to the following conditions: • The surplus employee must make a decision to opt for a bridge within 4 weeks of being declared surplus. • The period of time that represents the bridge would commence at the end of the search notice period. • The time period for which the bridge exists will not exceed the equivalent weeks of severance pay. • At the end of the bridging period the employee will terminate Surplus employees may be assigned to perform work in temporary positions which bridge them to a point in time where additional ongoing work requirements exist, subject to the following conditions: • That access to such positions be equitable (e.g. involve some form of advertising). • Surplus employees shall have their surplus status and rights withdrawn when selected to bridging positions. • Bridging could also include work sharing and job sharing where there is Agreement with the employees involved.
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Bridge to Retirement. A declared surplus employee who is close to retirement may wish to exchange severance pay for a working bridge to retirement subject to the following conditions: • The surplus employee must make a decision to opt for a bridge within 4 weeks of being declared surplus. • The period of time that represents the bridge would commence at the end of the vacancy transition period. • The time period for which the bridge exists will not exceed the equivalent weeks of severance pay. • At the end of the bridging period the employee will terminate employment. • This decision is irrevocable.
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Related to Bridge to Retirement

  • Transition to Retirement 24.1 An Employee may advise their Employer in writing of their intention to retire within the next five years and participate in a retirement transition arrangement. 24.2 Transition to retirement arrangements may be proposed and, where agreed, implemented as: (a) a flexible working arrangement (see clause 16 (Flexible Working Arrangements)); (b) in writing between the parties; or (c) any combination of the above. 24.3 A transition to retirement arrangement may include but is not limited to: (a) a reduction in their EFT; (b) a job share arrangement; or (c) working in a position at a lower classification or rate of pay. 24.4 The Employer will consider, and not unreasonably refuse, a request by an Employee who wishes to transition to retirement: (a) to use accrued Long Service Leave (LSL) or Annual Leave for the purpose of reducing the number of days worked per week while retaining their previous employment status; or (b) to be appointed to a role which that has a lower hourly rate of pay or hours (post transition role), in which case: (i) the Employer will preserve the accrual of LSL at the time of reduction in salary or hours; and (ii) where LSL is taken or paid out in lieu on termination, the Employee will be paid LSL hours at the applicable classification and grade, and at the preserved hours, prior to the post transition role until the preserved LSL hours are exhausted.

  • Deferred Retirement a. An employee who is eligible for paid retirement at the time he or she separates from County service, but elects deferred retirement, may defer participation in the Grant until such time as he or she becomes an active retiree. b. An otherwise eligible employee who is not eligible for paid retirement at the time he or she separates from County service but is eligible for and elects deferred retirement shall not become eligible for participation in the Grant.

  • Resignation and Retirement Any Trustee may resign his trust or retire as a Trustee, by written instrument signed by him and delivered to the other Trustees or to any officer of the Trust, and such resignation or retirement shall take effect upon such delivery or upon such later date as is specified in such instrument.