Progressive Retirement Sample Clauses

A Progressive Retirement clause outlines a structured process by which an employee transitions from full-time to part-time work as they approach retirement. Typically, this clause specifies eligibility criteria, the schedule for reducing work hours, and any adjustments to salary, benefits, or responsibilities during the transition period. By providing a clear framework for gradual retirement, the clause helps both employers and employees plan for workforce changes and ensures continuity of operations while supporting employees in managing their work-life balance as they near retirement.
Progressive Retirement. Progressive Retirement is a leave arrangement which permits bargaining unit members who are approaching retirement age to reduce their workload and hours of work progressively by using leave without pay. Members who wish to utilize the program should complete the application form PRLA 0041-00 Rev. 2.
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Progressive Retirement. Employees with at least 20 years of full-time service may request progressive retirement, with a conditional letter of retirement. The appropriate cabinet level administrator will review the staffing needs of the employee’s department and decide whether or not to approve the request. This decision must be rendered within 15 business days of receipt of conditional letter of retirement. If approved, the employee will meet with the cabinet level administrator to determine the work load and/or teaching semesters for the next two years: 2/3 of full load (20 I.U.’s or pro-rated hours of service) year one, 1/3 of full load (10 I.U.’s or prorated hours of service) year two. Full retirement will be required at the end of year two. The college will adjust its retirement contributions according to the figures cited above. However, the College will continue to provide full benefits to employees on the Progressive retirement track. Additional and/or ancillary professional responsibilities will be permitted at the discretion of the administrator. In the event the College offers a retirement buyout that impacts that participating employee’s group, during an employee’s Progressive Retirement term, the employee will receive the buyout amount after having completed the second year of Progressive Retirement.
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Progressive Retirement. Progressive retirement plan as follows: - Maximum duration of employee’s participation in this arrangement: three
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Progressive Retirement. The parties agree to implement the principle of progressive retirement in order to adapt to the new provincial legislation in this regard. The parties agree that each situation which arises in future shall be analyzed in order to acc ommodate the employee, while considering the operational requirements of the Employer. However, the following conditions shall apply in every case: • Paid holidays outlined in article 8.01 are paid on a prorated basis according to the employee ’ s hourly rate as well as the seven (7) paid holidays during the Christmas shutdown, according to the number of days worked each week. If a paid holiday falls on a day when the employee would normally have worked, the holiday is paid at 100%. • The employee concerned is not eligible to work overtime. • The employee concerned is entitled to his vacation time as stipulated in the collective agreement, based on the applicable percentage (%) of his earnings. • The employee concerned is eligible for income insurance as outl ined in article
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Progressive Retirement 
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Related to Progressive Retirement

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Pre-Retirement Counseling Leave Each employee within four (4) years of chosen retirement age or date shall be granted, on a one-time basis, up to three and one-half (3-1/2) days leave with pay to pursue bona fide pre-retirement programs. Employees shall request the use of leave provided in this Section at least five (5) days prior to the intended day of use.

  • Pre-Retirement Leave An Employee scheduled to retire and to receive a superannuation allowance under the applicable pension Acts or who has reached the mandatory retiring age, shall be entitled to: (a) A special paid leave for a period equivalent to fifty percent (50%) of his/her accumulated sick leave credit, to be taken immediately prior to retirement; or (b) A special cash payment of an amount equivalent to the cash value of fifty percent (50%) of his/her accumulated sick leave credit, to be paid immediately prior to retirement and based upon his/her current rate of pay.

  • Severance and Retirement Options (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she 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, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars. (ii) Where an employee resigns later than 30 days after receiving notice pursuant to article 14.02(a)(ii) that his or her position will be eliminated, 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, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ($1,250) dollars. (b) Prior to issuing notice of layoff pursuant to article 14.02(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 14.02(a)(ii). Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks’ pay for each year of service with the Hospital to a maximum of fifty-two (52) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to $1,000.00 for every year less than age 65, to a maximum of $5,000.00.

  • 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.