Common use of Normal or Deferred Retirement Clause in Contracts

Normal or Deferred Retirement. If, upon or after the Employee's attainment of age 65 and completion of 20 consecutive years of service with the Employer, the employee's employment shall be terminated and she shall be eligible to receive a benefit under The Connecticut Water Company Employees' Retirement Plan (hereinafter referred to as the "Retirement Plan"), the Employee shall be entitled to receive pursuant to this Agreement a benefit having a value equal to an annual benefit for her life of (a) 60% of the Employee's Average Earnings reduced by (b) the annual benefit payable to the Employee under the Retirement Plan in the form of a single life annuity for the life of the Employee (whether or not the benefit under the Retirement Plan is actually paid in such form) commencing at the same time as benefits hereunder.

Normal or Deferred Retirement. If, upon or after the Employee's attainment of age 65 and completion of 20 consecutive years of service with the Employer, the employeeEmployee's employment shall be terminated and she shall be eligible to receive a benefit under The Connecticut Water Company Employees' Retirement Plan (hereinafter referred to as the "Retirement Plan"), the Employee shall be entitled to receive pursuant to this Agreement a benefit having a value equal to an annual benefit for her life of (a) 60% of the Employee's Average Earnings reduced by (b) the annual benefit payable to the Employee under the Retirement Plan in the form of a single life annuity for the life of the Employee (whether or not the benefit under the Retirement Plan is actually paid in such form) commencing at the same time as benefits hereunder.

Normal or Deferred Retirement. If, upon or after the Employee's ’s attainment of age 65 and completion of 20 35 consecutive years of service with the Employer, the employee's Employee’s employment shall be terminated and he/she shall be eligible to receive a benefit under The Connecticut Water Company Employees' ’ Retirement Plan (hereinafter referred to as the "Retirement Plan"”), the Employee shall be entitled to receive pursuant to this Agreement a benefit having a value equal to an annual benefit for his/her life of (a) 60% of the Employee's ’s Average Earnings reduced by (b) the annual benefit payable to the Employee under the Retirement Plan in the form of a single life annuity for the life of the Employee (whether or not the benefit under the Retirement Plan is actually paid in such form) commencing at the same time as benefits hereunder.