Common use of Bridge to Retirement Clause in Contracts

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.

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 proratedprorated on a fifty per cent (50%) basis, as will vacation and sick leave entitlements.