Human Resource Plans, Retirement and Separation Allowances Clause Samples

The 'Human Resource Plans, Retirement and Separation Allowances' clause outlines the employer's obligations and procedures regarding employee benefits related to retirement, separation, and other human resource planning matters. It typically specifies the types of retirement plans or separation allowances available to employees, eligibility criteria, and the process for accessing these benefits, such as notice periods or required documentation. This clause ensures that both parties understand the terms of retirement and separation benefits, reducing disputes and providing clarity on financial entitlements when employment ends.
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Human Resource Plans, Retirement and Separation Allowances. (a) Local Human Resource Plans will apply to Health Services Restructuring Commission directives and integrations, provided that in the case of integrations, this Article will apply only to a hospital which is also bound by this collective agreement as well as the Local Human Resources Plan. In other circumstances, the balance of this Article will apply. (b) Before issuing notice of long-term layoff pursuant to Article 10.08(e)(ii), and following notice pursuant to Article 10.08(e)(i), the Hospital will make offers of retirement allowance in accordance with the following conditions: i) The Hospital will first make offers in order of seniority on the unit(s) and within the classification where layoffs would otherwise occur. ii) The Hospital will make offers to nurses eligible for retirement under the Hospital pension plan (including regular part-time, if applicable, whether or not they participate in the hospital pension plan). iii) The number of retirements the Hospital approves will not exceed the number of nurses who would otherwise be laid off. A nurse who elects a retirement option shall receive, following completion of the last day of work, a retirement allowance of one (1) week’s salary for each year of service, to a maximum ceiling of thirty-five (35) weeks’ salary. iv) If a nurse(s) on the unit referred to in paragraph (i) does not accept the offer, the Hospital will then extend the offer, in order of seniority, to eligible nurses in the same classification in the unit where a nurse who has been notified of a long-term lay-off elects to displace in accordance with Article 10.09 (b) ii) (D)
Human Resource Plans, Retirement and Separation Allowances a) Local Human Resource Plans will apply to Health Services Restructuring Commission directives. In other circumstances, the balance of this Article will apply. b) Before issuing notice of long term layoff pursuant to Article 10.09(C)(ii), and following notice pursuant to Article 10.09 (C)(i), the Employer will make offers of early retirement allowance in accordance with the following conditions: i. The Employer will first make offers in order of seniority on the unit(s) where layoffs would otherwise occur. ii. The Employer will make offers to employees eligible for early retirement under the Employer pension plan (including regular part-time, if applicable, whether or not they participate in the Employer pension plan). iii. If no employees on the unit affected accept the offer, the Employer will then extend the offer to other employees in the bargaining unit in order of seniority. iv. The number of early retirements the Employer approves will not exceed the number of employees who would otherwise be laid off. An employee who elects an early retirement option shall receive, following completion of the last day of work, a retirement allowance of one (1) weeks’ salary for each year of service, to a maximum ceiling of thirty-five (35) weeks’ salary. For a regular part-time employee, the retirement allowance will be based on the employee’s normal weekly hours. The normal weekly hours shall be calculated by using the same time period used for calculation of the Employment Insurance benefit. c) Where an employee has received individual notice of long term layoff under Article 10.09 such employee may resign and receive a separation allowance as follows: i. Where an employee resigns effective within thirty (30) days after receiving individual notice of long term layoff, she or he shall be entitled to a separation allowance of two (2) weeks’ salary for each year of continuous service to a maximum of sixteen (16) weeks’ pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation will be reimbursed for tuition fees up to a maximum of three thousand ($3,000.00) dollars. ii. Where an employee resigns effective later than thirty (30) days after receiving individual notice of long term layoff, he or she shall be entitled to a separation allowance of four (4) weeks salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation will be reimbursed for tuition fees u...
Human Resource Plans, Retirement and Separation Allowances. (a) Before issuing notice of long-term layoff pursuant to Article 12.08 (e) (ii), and following notice pursuant to Article 12.08 (e) (i), the Hospital will make offers of retirement allowance in accordance with the following conditions: i) The Hospital will first make offers in order of seniority within the classification where layoffs would otherwise occur. ii) The Hospital will make offers to employees eligible for retirement under the Hospital pension plan (including regular part-time, if applicable, whether or not they participate in the hospital pension plan). iii) The number of retirements the Hospital approves will not exceed the number of employees who would otherwise be laid off. An employee who elects a retirement option shall receive, following completion of the last day of work, a retirement allowance of one (1) week’s salary for each year of service, to a maximum ceiling of thirty-five (35) weeks’ salary. For a regular part-time employee, the retirement allowance will be based on the employee’s normal weekly hours. The normal weekly hours shall be calculated by using the same time period used for calculation of the Employment Insurance benefit. (b) Where an employee has received individual notice of long-term layoff under Article 12.08 such employee may resign and receive a separation allowance as follows: i) Where an employee resigns effective within thirty (30) days after receiving individual notice of long-term layoff, they shall be entitled to a separation allowance of two (2) weeks’ salary for each year of continuous service to a maximum of sixteen

Related to Human Resource Plans, Retirement and Separation Allowances

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and ▇▇▇▇ individual retirement accounts (“▇▇▇ Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.