The employer determines the timing of member terminations. A member may terminate up to one year from the effective date of the employer's ERI program.
Example:
|
Effective date of ERI program: |
September 30, 2010 |
|
Termination date can be: |
September 30, 2010, through September 30, 2011 |
If a member requests to retire before July 1st so he or she will be eligible to receive the following years Supplemental Benefit Payment (13th check), the employer must allow the member to do so.
Employers are to give a member at least 30 days notice of his or her designated termination date. The 30-day notice may be waived by the member.