COST OF LIVING INCREASES TO RETIRED MEMBERS AND CONTINGENT ANNUITANTS AND BENEFICIARIES Sample Clauses

COST OF LIVING INCREASES TO RETIRED MEMBERS AND CONTINGENT ANNUITANTS AND BENEFICIARIES. Subject to the limitations under Section 5.07, retired Members who retired on their Normal, Late, Early, Thirty (30) Year Service or Disability Retirement Date who, or whose contingent annuitants or beneficiaries thereof, on December 1 of each year are receiving Retirement Benefits shall receive in one (1) additional payment an amount equal to one-half (1/2) of the annual percentage change in each Plan Year (from October 1 to September 30) of the “Revised Consumer Price Index, All Cities, All Items for All Urban Consumers (1982-84 = 100),” published by the Bureau of Labor Statistics of the United States Department of Labor, but not to exceed two and one-half percent (2-1/2%), of the Retired Member’s, contingent annuitant’s, or beneficiary’s annual retirement benefit, as the case may be, multiplied by the number of full Plan Years since retirement. The percentages determined under this Section 5.06 shall be based on each full Plan Year that a Retired Member, contingent annuitant or beneficiary has actually received Retirement Benefits from the Retired Member’s Retirement Date, or from his last Retirement Date if there is more than one Retirement Date. In the event the annual percentage change in the ‘Revised Consumer Price Index,’ as defined in the preceding paragraph, in any Plan year (from October 1 to September 30) is calculated to be zero or less, there shall be an additional payment in December following such Plan Year to each and every Retired Member, contingent annuitant and beneficiary who is receiving Retirement Benefits in an amount equal to a percentage to be recommended by the Plan Trustees and approved by the Employer of the last additional payment received in a December by each Retired Member, contingent annuitant and beneficiary where there was an increase in the annual percentage change in the Revised Consumer Price Index for the immediately preceding Plan Year (from October 1 to September 30) before that December. Advance notice in writing shall be given before December 1 following such Plan Year, when there is a change in the Consumer Price Index calculated to be zero or less, by the Plan Administrator to all Retired Members, contingent annuitants and beneficiaries who are receiving Retirement Benefits to the effect that there will be an additional payment equal to the recommended and approved percentage of the last additional payment received in a December following a Plan Year ending in which there was an increase in the annual percentag...
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Related to COST OF LIVING INCREASES TO RETIRED MEMBERS AND CONTINGENT ANNUITANTS AND BENEFICIARIES

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who:

  • Domestic Partners; Spouses; Gender Discrimination If the Contract Amount is $100,000 or more, Contractor certifies that it is in compliance with PCC 10295.3, which places limitations on contracts with contractors who discriminate in the provision of benefits regarding marital or domestic partner status.

  • Domestic Partner Benefits An employee seeking to obtain benefit coverage for the employee’s domestic partner and the child(ren) of that domestic partner must satisfy all of VEHI’s current eligibility criteria and submit an affidavit in the format required by XXXX, all as posted on VEHI’s website, to the district business office.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Basic Life and Accidental Death and Dismemberment Coverage The Employer agrees to provide and pay for the following term life coverage and accidental death and dismemberment coverage for all supervisors eligible for an Employer Contribution, as described in Section 3. Any premium paid by the State in excess of fifty thousand dollars ($50,000) coverage is subject to a tax liability in accord with Internal Revenue Service regulations. A supervisor may decline coverage in excess of fifty thousand dollars ($50,000) by filing a waiver in accord with Minnesota Management & Budget procedures. The basic life insurance policy will include an accelerated benefits agreement providing for payment of benefits prior to death if the insured has a terminal condition. Supervisors’ Annual Base Salary Group Life Insurance Coverage Accidental Death and Dismemberment Principal Sum $10,000 - $15,000 $15,000 $15,000 $15,001 - $20,000 $20,000 $20,000 $20,001 - $25,000 $25,000 $25,000 $25,001 - $30,000 $30,000 $30,000 $30,001 - $35,000 $35,000 $35,000 $35,001 - $40,000 $40,000 $40,000 $40,001 - $45,000 $45,000 $45,000 $45,001 - $50,000 $50,000 $50,000 $50,001 - $55,000 $55,000 $55,000 $55,001 - $60,000 $60,000 $60,000 $60,001 - $65,000 $65,000 $65,000 $65,001 - $70,000 $70,000 $70,000 $70,001 - $75,000 $75,000 $75,000 $75,001 - $80,000 $80,000 $80,000 $80,001 - $85,000 $85,000 $85,000 $85,001 - $90,000 $90,000 $90,000 Over $90,000 $95,000 $95,000

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who:

  • Spouse The spouse of an eligible employee (if legally married under Minnesota law). For the purposes of health insurance coverage, if that spouse works full-time for an organization employing more than one hundred (100) people and elects to receive either credits or cash (1) in place of health insurance or health coverage or (2) in addition to a health plan with a seven hundred and fifty dollar ($750) or greater deductible through his/her employing organization, he/she is not eligible to be a covered dependent for the purposes of this Article. If both spouses work for the State or another organization participating in the State's Group Insurance Program, neither spouse may be covered as a dependent by the other, unless one spouse is not eligible for a full Employer Contribution as defined in Section 3A. Effective January 1, 2015 if both spouses work for the State or another organization participating in the State’s Group Insurance Program, a spouse may be covered as a dependent by the other.

  • Death Benefits Upon the Executive's death during the Contract Period, his estate shall not be entitled to any further benefits under this Agreement.

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