Sentences with phrase «employees upon their retirement»

The employer has an obligation to provide a regular retirement check to employees upon their retirement, based on a legislatively determined formula (see sidebar).

One way would be to purchase a permanent life insurance policy which would be given to the employee upon retirement, after a certain number of years with the company, or based upon a certain level of performance.

The pension received by an employee upon retirement is taxable as the income received in «Salary».

One way would be to purchase a permanent life insurance policy which would be given to the employee upon retirement, after a certain number of years with the company, or based upon a certain level of performance.

Transferring ownership of a paid up life insurance policy to your long time loyal employee upon retirement can be a huge gift to the family.

Not exact matches

stock ownership policy under which all executive officers are required to retain 50 % of their after - tax profit shares acquired upon exercise of options or vesting of stock awards for a period of one year following retirement, and all other employees are expected to retain that number of shares while employed by the Company.

The idea is that both the employer and the employee typically contribute a set percentage of the employee's salary throughout his or her career with the promise that, upon retirement, he or she will receive a fixed monthly payment.

Councilman Brad Lander, a Brooklyn Democrat, said the mayor's proposal puts employees in a tough spot: While current workers would be able to choose their benefit option upon retirement, new employees would have to choose at the time they are hired, without knowing whether or when they would be injured in the line of duty.

This is a false statement, as all county employees (including his wife and he himself as her spouse) who earn health insurance benefits will receive 50 % of their health insurance costs covered under MVP Gold (which is not the same insurance that current county employees receive) upon retirement and 10 years of employment after reaching the age of 55.

THAT at the upcoming conventions of the National Educational Association and the American Federation of Teachers, NYSUT sponsor and support resolutions encouraging teacher unions, public employee unions, private sector unions and not - for - profit organizations to call upon their pension and retirement funds to not invest in private equity funds that are complicit in and profit from the denial of the rights to organize into a union and bargain collectively.

Specifically, the UFT shall not ask teacher unions, public employee unions, private sector unions and not - for - profit organizations to call upon the trustees or other persons responsible for investment decisions of the pension and retirement funds covering their members and / or employees to not invest in these investment funds.

Employee contributions are made over the course of employment, and benefits are paid out upon retirement.

These eligible employees are subject to the provisions of paragraph (b) and may elect to participate in the optional retirement program in the same manner as those employees described in paragraph (b), except that the 90 - day election period commences upon the date notice of eligibility is received by the employee and participation in the program begins the first day of the first full calendar month that the change in status becomes effective.

A district school board may establish policies to provide for a lump - sum payment for accrued vacation leave to an employee of the district school board upon termination of employment or upon retirement, or to the employee's beneficiary if service is terminated by death.

«Activation» means the date upon which an optional retirement program is first made available by the program administrator to eligible employees.

Teachers and state employees hired after January 1 of next year would not be eligible for free health insurance upon retirement.

In a deferred profit sharing plan, the employer contributions accrue over time in employee accounts and are typically disbursed upon retirement, death or however specified in the provisions of the plan.

Similar to an IRA, the TSP allows federal employees to contribute a percentage of their annual income to a tax - deferred account that will pay out along with annuity benefits upon retirement.

Ron Pressman, CEO of Institutional Financial Services at TIAA, adds: «We've seen that employees who contribute to an annuity through their retirement plan over time can generate more retirement income than those who simply purchase one upon retiring.»

Upon retirement, employee stock ownership plans may provide a single payment of stock shares.

Upon retirement, employees have a choice of a lump sum or a series of monthly payments.

Upon retirement, or some other mutually agreed upon date between the employer and employee, the employee can access the policy's cash value to use an additional income source, such as supplemental retirement incUpon retirement, or some other mutually agreed upon date between the employer and employee, the employee can access the policy's cash value to use an additional income source, such as supplemental retirement incupon date between the employer and employee, the employee can access the policy's cash value to use an additional income source, such as supplemental retirement income.

Split dollar plans usually terminate upon an event specified in the contract, such as retirement, OR upon the employee's death.

Distributions from private, employer - funded pension plans received upon retirement are partially taxed by the state if the employee contributed to the pension plan.

Dr. Alan Coffman, a 16 year employee of the hospital, purchased the practice upon Dr. Overton's retirement in 2010, in order to continue exceptional service and reputation of Allen Veterinary Hosptial.

Besides this obvious one, some of the other projected benefits from proposed FDI scenario include availability of pension product to private sector employees who until now have to depend upon largely insurance - based schemes for post retirement financial security.

Split dollar plans usually terminate upon an event specified in the contract, such as retirement, OR upon the employee's death.

Amidst other employer benefits which are realizable after a long tenure, usually upon retirement, the employer sponsored health insurance scheme is a blessing for the employees as it provides them coverage for themselves and their families and that too without a time - specific condition.

Upon retirement, or some other mutually agreed upon date between the employer and employee, the employee can access the policy's cash value to use an additional income source, such as supplemental retirement incUpon retirement, or some other mutually agreed upon date between the employer and employee, the employee can access the policy's cash value to use an additional income source, such as supplemental retirement incupon date between the employer and employee, the employee can access the policy's cash value to use an additional income source, such as supplemental retirement income.