Common use of Level of Benefits Provided Clause in Contracts

Level of Benefits Provided. Unless otherwise provided in this Agreement, the Long-Term Disability benefit shall be an amount equal to a percentage of the annualized regular rate of pay of the position to which the member was permanently appointed or serving the required probationary period or trial term thereof on the date they were first eligible for Long- Term Disability benefits. The annualized regular rate of pay for full-time members shall be calculated by multiplying the hourly regular rate of pay times the scheduled hours of work or, if the member's regular rate of pay is a bi-weekly rate, then multiplying the bi-weekly rate times twenty-six point one (26.1). For part-time members, the regular rate of pay shall be applied to the average weekly hours worked by the member in the preceding nine (9) weeks and multiplying this result by fifty-two point two (52.2). The percentage of annualized regular rate of pay which is paid as the Long-Term Disability benefit shall be in accordance with the following: Annualized Regular Rate of Pay Long Term Disability Benefit (Percentage of Annualized Regular Rate of Pay) Up to $45,000 60% $45,001 to $50,000 58% $50,001 to $60,000 56% $60,001 and higher 54%

Appears in 3 contracts

Samples: Collective Agreement, Collective Agreement, Collective Agreement

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Level of Benefits Provided. Unless otherwise provided in this Agreement, the Long-Long Term Disability benefit shall be an amount equal to a percentage of the annualized regular rate of pay of the position to which the member was permanently appointed or serving the required probationary period or trial term thereof on the date they were first eligible for Long- Long Term Disability benefits. The annualized regular rate of pay for full-time members shall be calculated by multiplying the hourly regular rate of pay times the scheduled hours of work or, if the member's regular rate of pay is a bi-weekly rate, then multiplying the bi-weekly rate times twenty-six point one (26.1). For part-time members, the regular rate of pay shall be applied to the average weekly hours worked by the member in the preceding nine (9) weeks and multiplying this result by fifty-two point two (52.2). The percentage of annualized regular rate of pay which is paid as the Long-Long Term Disability benefit shall be in accordance with the following: Annualized Regular Rate of Pay Long Term Disability Benefit (Percentage of Annualized Regular Rate of Pay) Up $40,000.99 or less 55% $40,001 to $45,000 60% $45,001 to $50,000 5850,000.99 54% $50,001 to $60,000 5660,000.99 53% $60,001 to $65,000.99 52% $65,001 to $70,000.99 51% $70,001 or more 50% The maximum monthly benefit payable shall not exceed four thousand dollars ($4,000). The Long Term Disability benefit payable shall be paid monthly, in arrears, and higher 54%shall be determined by dividing the annual benefit payable by twelve (12). The amount determined above shall be reduced by any amounts the member may be entitled to from the sources set out as follows:

Appears in 2 contracts

Samples: Collective Agreement, Collective Agreement

Level of Benefits Provided. Unless otherwise provided in this Agreement, the Long-Long Term Disability benefit shall be an amount equal to a percentage of the annualized regular rate of pay of the position to which the member was permanently appointed or serving the required probationary period or trial term thereof on the date they were first eligible for Long- Long Term Disability benefits. The annualized regular rate of pay for full-time members shall be calculated by multiplying the hourly regular rate of pay times the scheduled hours of work or, if the member's regular rate of pay is a bi-weekly rate, then multiplying the bi-weekly rate times twenty-six point one (26.1). For part-time members, the regular rate of pay shall be applied to the average weekly hours worked by the member in the preceding nine (9) weeks and multiplying this result by fifty-two point two (52.2). The percentage of annualized regular rate of pay which is paid as the Long-Long Term Disability benefit shall be in accordance with the following: Annualized Regular Rate of Pay Long Term Disability Benefit (Percentage of Annualized Regular Rate of Pay) Up $40,000.99 or less 55% $40,001 to $45,000 60% $45,001 to $50,000 5850,000.99 54% $50,001 to $60,000 5660,000.99 53% $60,001 and higher 54to $65,000.99 52% $65,001 to $70,000.99 51% $70,001 or more 50%

Appears in 1 contract

Samples: Collective Agreement

Level of Benefits Provided. Unless otherwise provided in this Agreement, the Long-Long Term Disability benefit shall be an amount equal to a percentage of the annualized regular rate of pay of the position to which the member was permanently appointed or serving the required probationary period or trial term thereof on the date they were first eligible for Long- Long Term Disability benefits. The annualized regular rate of pay for full-time members shall be calculated by multiplying the hourly regular rate of pay times the scheduled hours of work or, if the member's regular rate of pay is a bi-weekly rate, then multiplying the bi-weekly rate times twenty-six point one (26.1). For part-time members, the regular rate of pay shall be applied to the average weekly hours worked by the member in the preceding nine (9) weeks and multiplying this result by fifty-two point two (52.2). The percentage of annualized regular rate of pay which is paid as the Long-Long Term Disability benefit shall be in accordance with the following: Annualized Regular Rate of Pay Long Term Disability Benefit (Percentage percentage of Annualized Regular Rate of Pay) Up $40,000.99 or less 55% $40,001 to $45,000 60% $45,001 to $50,000 5850,000.99 54% $50,001 to $60,000 5660,000.99 53% $60,001 to $65,000.99 52% $65,001 to $70,000.99 51% $70,001 or more 50% The maximum monthly benefit payable shall not exceed five thousand dollars ($5,000). The Long Term Disability benefit payable shall be paid monthly, in arrears, and higher 54%shall be determined by dividing the annual benefit payable by twelve (12). The amount determined above shall be reduced by any amounts the member may be entitled to from the sources set out as follows:

Appears in 1 contract

Samples: www.edmonton.ca

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Level of Benefits Provided. Unless otherwise provided in this Agreement, the Long-Long Term Disability benefit shall be an amount equal to a percentage of the annualized regular rate of pay of the position to which the member was permanently appointed or serving the required probationary period or trial term thereof on the date they were he/she was first eligible for Long- Long Term Disability benefits. The annualized regular rate of pay for full-time members shall be calculated by multiplying the hourly regular rate of pay times the scheduled hours of work or, if the member's regular rate of pay is a bi-weekly rate, then multiplying the bi-weekly rate times twenty-six point one (26.1). For part-time members, the regular rate of pay shall be applied to the average weekly hours worked by the member in the preceding nine (9) weeks and multiplying this result by fifty-two point two (52.2). The percentage of annualized regular rate of pay which is paid as the Long-Long Term Disability benefit shall be in accordance with the following: Long Term Disability Benefit Annualized Regular Rate of Pay Long Term Disability Benefit (Percentage percentage of Annualized Regular Rate of Pay) Up $40,000.99 or less 55% $40,001 to $45,000 60% $45,001 to $50,000 5850,000.99 54% $50,001 to $60,000 5660,000.99 53% $60,001 and higher 54to $65,000.99 52% $65,001 to $70,000.99 51% $70,001 or more 50%

Appears in 1 contract

Samples: Collective Agreement

Level of Benefits Provided. β€Œ Unless otherwise provided in this Agreement, the Long-Term Disability benefit shall be an amount equal to a percentage of the annualized regular rate of pay of the position to which the member was permanently appointed or serving the required probationary period or trial term thereof on the date they were first eligible for Long- Term Disability benefits. The annualized regular rate of pay for full-time members shall be calculated by multiplying the hourly regular rate of pay times the scheduled hours of work or, if the member's regular rate of pay is a bi-weekly rate, then multiplying the bi-weekly rate times twenty-six point one (26.1). For part-time members, the regular rate of pay shall be applied to the average weekly hours worked by the member in the preceding nine (9) weeks and multiplying this result by fifty-fifty- two point two (52.2). The percentage of annualized regular rate of pay which is paid as the Long-Term Disability benefit shall be in accordance with the following: Annualized Regular Rate of Pay Long Term Disability Benefit (Percentage of Annualized Regular Rate of Pay) Up to $45,000 60% $45,001 to $50,000 58% $50,001 to $60,000 56% $60,001 and higher 54%

Appears in 1 contract

Samples: Collective Agreement

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