Contra Costa California Executive Retirement Agreement of Georgia Pacific Corp: The Contra Costa California Executive Retirement Agreement is a contractual agreement offered by Georgia Pacific Corp. to its executive-level employees in Contra Costa County, California. This agreement outlines the terms and conditions regarding retirement benefits and severance packages specifically designed for key executives within the company. Key Features: 1. Retirement Benefits: The agreement ensures eligible executives receive substantial retirement benefits including pensions, retirement savings plans, and other post-employment financial assistance. These benefits assist executives in maintaining their financial stability during retirement years. 2. Severance Packages: In addition to retirement benefits, the agreement also includes detailed provisions for severance packages. The severance packages are designed to provide financial support to executives in the event of involuntary job termination, such as through layoffs or corporate restructuring. This provision aims to mitigate the potential impact of sudden career changes. 3. Eligibility Criteria: The Contra Costa California Executive Retirement Agreement typically applies to senior executives who meet specified criteria outlined by Georgia Pacific Corp. These criteria usually include years of service, position within the company, and other performance-based indicators. 4. Vesting Period: The agreement may encompass a vesting period, which refers to the length of service required for executives to become fully eligible for retirement benefits. This timeframe incentivizes executives to remain with the company for an extended period, ensuring their commitment to organizational growth and stability. Types of Contra Costa California Executive Retirement Agreements: 1. Tiered or Multi-Level: Georgia Pacific Corp. may offer different tiers or levels of retirement agreements to accommodate executives at varying levels within the organization. These tiers often reflect the hierarchy and scope of responsibilities associated with the executive's role. 2. Voluntary Retirement Agreement: In certain cases, the company may offer a voluntary retirement agreement wherein executives have the option to retire early based on specific predetermined conditions. These agreements may provide enhanced benefits or financial incentives to encourage executives to take this option. 3. Change of Control Agreement: This type of agreement is triggered by a change in ownership or control of Georgia Pacific Corp, such as through mergers, acquisitions, or buyouts. The agreement provides specific provisions to address the potential impact of these changes on executive retirement benefits and severance packages. In conclusion, the Contra Costa California Executive Retirement Agreement of Georgia Pacific Corp. offers retirement benefits and severance packages to senior executives within the company. The agreement ensures the financial stability of executives during retirement and provides enhanced support during involuntary job terminations. Different types of agreements, such as multi-level, voluntary retirement, and change of control agreements, may be available to cater to executives at varying levels and circumstances.
Contra Costa California Executive Retirement Agreement of Georgia Pacific Corp.
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One of the most significant differences in benefits between Union Pacific management employees and Union Pacific agreement employees is the UP Pension Plan....Consequences for Pension Benefits. Annual Pension at age 60 if remained in UP Pension Plan$35,160Annual Net Reduction in UP Pension$34,0803 more rows
Georgia-Pacific Pension Fund is a private sector pension fund headquartered in Atlanta, Georgia. It offers a defined benefit pension plan to employees of Georgia-Pacific Corporation.
Service retirement is a lifetime benefit. Employees can retire as early as age 50 with five years of CalPERS pensionable service credit unless all service was earned on or after January 1, 2013, then employees must be at least age 52 to retire.
Union Pacific not only invests in your career, we invest in your future. We offer exceptional financial security with our Railroad Retirement and a comprehensive 401(k) plan.
We provide flexible options to meet the needs of our employees and their families through medical, dental, vision, life insurance and disability coverage.
In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS). Pension benefits may or may not be changed after an employee is hired, depending on the state and plan, as well as hiring date, years of service, and grandfathering.
Georgia-Pacific Pension Fund is a private sector pension fund headquartered in Atlanta, Georgia. It offers a defined benefit pension plan to employees of Georgia-Pacific Corporation.
A supplemental executive retirement plan (SERP) can be a highly effective way to provide additional compensation for a handful of key employees and persuade them to remain with the company longer. A SERP has numerous advantages both for the business and its key employees.
Georgia-Pacific Corporation offers a 401(k) match up to a defined limit.