Bridge Benefits Sample Clauses

Bridge Benefits. For any teacher who opts to retire prior to the time the teacher qualifies for Medicare, the School Corporation shall contribute a maximum of One Hundred Twenty-five Dollars ($125.00) monthly towards the retired teacher’s insurance premium payment for any School Corporation insurance plan that the teacher was enrolled during the twelve (12) month period before retirement until the month the teacher qualifies for Medicare. Additionally, if a teacher qualifies for Bridge Benefits as provided above and the retired teacher is covered by a spouse’s plan (ex. employee and spouse) who is an active at work employee then the retired teacher may elect to have their annual benefit contributed to their spouse’s premiums.
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Bridge Benefits. Effecti v e June 8 , 2 0 0 7 Payable from age 55 at $18.00 per month per year of pensionable service. The maximum potential number of monthly bridge benefit payments is 120 or until age 65, whichever is the earliest. Effective for retirements on and after June 8 , 2 0 0 7 add a SPECIALLONG SERV- ICE EMPLOYEE’s BRIDGE – the amount of this payment will be $9.00 per month per year of pensionable service for employees who retire and have thirty
Sample 1
Bridge Benefits. Effective June 8. 2012 Payable from age 55 at $18.00 per month per year of pensionable service. The maximum potential number of monthly bridge benefit payments is 120 or until age 65, whichever is the earliest. Effective for retirements on and after June 8, 2012 add a SPECIAL LONG SERVICE EMPLOYEE's BRIDGE — the amount of this payment will be $9.00 per month per year of pensionable service for employees who retire and have thirty (30) or more years of pensionable service. The duration of the Special Long Service Employee's Bridge will be for a maximum of 120 months or age 65 whichever occurs first. This provision applies to all three (3) bridges. Effective for retirements on and after June 8, 2012 continue the EARLY RETIREMENT BRIDGE payment of $2.00 per month per year of pensionable service for employees who are less than 62 years of age with 10 years of pensionable service at date of retirement. The duration of the Early Retirement Bridge will be a maximum of 120 months or age 65 whichever occurs first.
Sample 1

Related to Bridge Benefits

  • Fringe Benefits During the Employment Period, the Executive shall be entitled to fringe benefits, including, without limitation, tax and financial planning services, payment of club dues, and, if applicable, use of an automobile and payment of related expenses, in accordance with the most favorable plans, practices, programs and policies of the Company and its affiliated companies in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies.

  • Leave Benefits Paid leave is available to the Superintendent when the following specific conditions are met: (1) the Superintendent is currently employed by the District and (2) the paid leave day is taken on a day Superintendent would otherwise be expected to be at work.

  • Retiree Benefits Employees retiring on or after January 1, 2006 will be eligible for retiree benefits as presented to the Union Negotiation Committee during discussions for renewal of the Collective Agreements that expired December 31, 2002.

  • Executive Benefits The Executive shall be entitled to participate in all benefit programs of the Company currently existing or hereafter made available to executives and/or other salaried employees, including, but not limited to, pension and other retirement plans, group life insurance, hospitalization, surgical and major medical coverage, sick leave, disability and salary continuation, vacation and holidays, cellular telephone and all related costs and expenses, long-term disability, and other fringe benefits.

  • Vacation and Fringe Benefits During the Employment Period, the Executive shall be entitled to paid vacation and fringe benefits at a level that is commensurate with the paid vacation and fringe benefits available to the Executive immediately prior to the Effective Date, or, if more favorable to the Executive, at the level made available from time to time to the Executive or other similarly situated officers at any time thereafter.

  • Separation Benefits If this Agreement is terminated either by the Company without Cause in accordance with Section 6(c) (including the Company’s non-renewal of this Agreement) or by Employee resigning his employment for Good Reason in accordance with Section 6(d), the Company shall have no further obligation to Employee under this Agreement, except the Company shall provide the Accrued Obligations to Employee in accordance with Section 7(a) plus the following payments and benefits (collectively, the “Separation Benefits”) to Employee: (i) an amount equal to one times the sum of the Base Salary in effect immediately before the Termination Date plus the Annual Bonus received by Employee for the fiscal year preceding the Termination Date (or if Employee was employed for less than one full fiscal year prior to the Termination Date, the Annual Bonus for purposes of this Section 7 shall be the Annual Bonus payable during the current fiscal year at the target amount provided above) (together, the “Separation Pay”); and (ii) during the six-month period commencing on the Termination Date that Employee is eligible to elect and elects to continue coverage for himself and his eligible dependents under the Company’s group heath insurance plan pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), or similar state law, the Company shall reimburse Employee on a monthly basis for the difference between the amount Employee pays to effect and continue such coverage under COBRA and the employee contribution amount that active employees of the Company pay for the same or similar coverage; provided, however, that Employee shall notify the Company in writing within five days after he becomes eligible after the Termination Date for group health insurance coverage, if any, through subsequent employment or otherwise and the Company shall have no further reimbursement obligation after Employee becomes eligible for group health insurance coverage due to subsequent employment or otherwise. The Separation Pay shall be paid to Employee in a lump sum within 60 days of the Termination Date; provided, however, that no Separation Pay shall be paid to Employee unless the Company receives, on or within 55 days after the Termination Date, an executed and fully effective copy of the Release (as defined below). Any COBRA reimbursements due under this Section shall be made by the last day of the month following the month in which the applicable premiums were paid by Employee. For the avoidance of doubt, Employee shall not be entitled to the Separation Benefits if this Agreement is terminated (i) due to Employee’s death; (ii) by the Company due to Employee’s Inability to Perform; (iii) by the Company for Cause; (iv) by Employee without Good Reason; or (v) by non-renewal by Employee in accordance with Sections 4(b) and 6(f).

  • Severance Pay and Benefits Upon Termination by the Company without Cause or by the Executive for

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

  • Additional Benefits During the term of this Agreement, the Employee shall be entitled to the following fringe benefits:

  • Other Fringe Benefits During the Employment Period, Executive shall be entitled to receive such of the Company’s other fringe benefits as are being provided to other Executives of the Company on the Senior Executive Team.

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