Holiday Deferral Program Clause Samples

Holiday Deferral Program. Employees that are forty-five (45) years of age as of December 31 may defer each year, one (1) week of annual holidays in the next calendar year up to the time of their retirement. All holiday deferrals must be submitted by March 1 of the year in which the deferral is requested. Any and all deferred annual vacation may only be taken in connection with retirement in one of the following ways: i) a cash payment, or ii) time off, or iii) a combination of i) and ii).
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Related to Holiday Deferral Program

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Deferral Account Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Deferral Plan The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period, or such other schedule as may be mutually agreed between the employee and the Hospital. In the case of the four (4) years' salary over a five (5) year schedule, during the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee. Such deferred salary will not be accessible to the employee until the year of the leave or upon the collapse of the plan. In the case of another mutually agreed upon deferral schedule, the percentage of salary deferred shall be adjusted appropriately.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.