Eligibility for and Amount of Benefits Sample Clauses

Eligibility for and Amount of Benefits. (1) If an employee becomes totally and permanently disabled, as defined in Subsection (3) herein, while insured under the Plan and prior to the end of the month in which the employee’s 65th birthday occurs, and if the employee has credit for less than ten Years of Participation under the Plan on the last day of the month in which the employee becomes totally and permanently disabled and provided that satisfactory written proof of such disability is submitted, as required herein, and provided the employee so elects, the insurer shall discontinue the Life and Extra Accident Insurance on the life of said employee and will pay to the employee, in lieu of the payment of Life Insurance at the employee’s death, a lump sum payment or monthly instalments, as the employee may elect. In the event that an employee elects payment on a monthly instalment basis, such instalments will be payable at the rate of $20 per month for each $1,000 of the employee's Life Insurance under the Plan at the date of commencement of such disability until such amount of insurance is exhausted.
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Related to Eligibility for and Amount of Benefits

  • Eligibility for Benefits A member will not be eligible to receive Long Term Disability benefits until their Income Protection benefits have expired.

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Eligibility for Overtime Compensation (a) Overtime compensation rates for all hours worked in excess of the workday and workweek identified below shall be as follows:

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

  • Payment of Benefits Any amounts due under this Agreement shall be paid in one (1) lump sum payment as soon as administratively practicable following the later of: (i) Xx. Xxxxxx'x Termination Date, or (ii) upon Xx. Xxxxxx'x tender of an effective Waiver and Release to the Company in the form of Exhibit A attached hereto and the expiration of any applicable revocation period for such waiver. In the event of a dispute with respect to liability or amount of any benefit due hereunder, an effective Waiver and Release shall be tendered at the time of final resolution of any such dispute when payment is tendered by the Company.

  • Amount of Benefit The annual benefit under this Section 3.1 is the Normal Retirement Benefit amount described in Section 2.1.1.

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

  • STAFF BENEFITS 7.1.1 The present staff benefits consisting of the University of Manitoba Pension Plan (1993), Group Term Life Insurance Plan, Group Term Dependent Insurance Plan, Accidental Death and Dismemberment (Basic), Accidental Death and Dismemberment (Voluntary), University of Manitoba Long-Term Disability Income Plan, Group Health Insurance Policy 20778 GH (including the Health Care Spending Account), Group Dental Plan Policy 67000, and the University Employee Assistance Program shall continue to cover eligible Members for the duration of this Agreement.

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