Optional Benefit Sample Clauses

Optional Benefit. You may choose to replace any fixed extended insurance that has a net cash value by variable reduced paid-up insurance. To make this choice, you must do so in writing to us in a form that meets our needs, not more than three months after the date the contract goes into default. You must also send the contract to us to be endorsed. Cash Value Option.--You may surrender this contract for its net cash value. The net cash value at any time is the cash value at that time less any contract debt. To surrender this contract, you must ask us in writing in a form that meets our needs. You must also send the contract to us. here is how we will compute the case value for surrender of the contract or for its continuation under extended insurance or variable reduced paid-up insurance:
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Optional Benefit. A member may elect to receive a reduced retirement allowance with a provision that such reduced retirement allowance or such part thereof as may be specified by the member in her/his notice of election (either 3/4, 2/3, 1/2 or 1/3) shall be continued after her/his death to her/his spouse named in such election, for so long as her/his spouse lives. The reduced retirement allowance shall be in such amount as the City deems to be the actuarial equivalent of the retirement allowance that would have been payable had not the election of this option with the City been made prior to the time at which she/he becomes eligible for retirement, provided that such written notice of election is filed three (3) years before the member becomes eligible for retirement. She/he may be required to pass a physical examination at the time of making such election. It is the intention of this option that the City’s outlay for retirement benefits shall not be increased and that the amount payable to the member and her/his spouse under the option shall be the equivalent as actuarially determined of what the member alone would have received if she/he had not elected the option. This option is also intended to be patterned after such option available in the Connecticut State Municipal Employees Retirement Fund as it existed on the effective date of this pension plan.
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Optional Benefit. Plan (OBP)‌ The County shall provide each eligible full-time employee a contribution of six thousand, two hundred forty dollars ($6,240) per fiscal year, prorated over twenty-four (24) benefit pay periods, toward the purchase of benefits included within the optional Benefit Plan (OBP). Each prorated contribution shall not be deemed earned until the pay period in which it is paid. Effective the first full pay period of the 2019 health plan year, the OBP will only be available as a cash payment, which is taxable income, that employees may use at their discretion to offset the cost of optional benefits. Optional benefits are specifically defined in the OBP. Provisions generally include the following:
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Optional Benefit. You may choose to replace any extended insurance that has a cash value by reduced paid-up insurance. To make this choice, you must do so in writing to us and in a form that meets our needs, not more than three months after the due date of the premium in default. You must also send the contract to us to be endorsed.
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Optional Benefit. Franchised Dealer Repair Where you have paid an additional premium, and this is shown on Your Policy Schedule, Your policy is extended to provide cover for repairs conducted at franchised motor dealers, up to a maximum labour rate of £200 per hour including VAT at the prevailing rate.
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Optional Benefit. An employee may elect to receive a reduced retirement allowance with provision that such reduced retirement allowance or such part thereof as may be specified by the employee in his notice of election (either 3/4, 2/3, 1/2/ or 1/3) shall be continued after his death to his spouse named in such election, for so long as his spouse lives. The reduced retirement allowance shall be in such an amount as the City deems to be the actuarial equivalent of the retirement allowance that would have been payable had not the election been made. The employee must file a written notice of election of this option with the City prior to the time at which he becomes eligible for retirement, provided that such written notice of election is filed within ninety (90) days before the employee becomes eligible for the retirement. He/she may be required to pass a physical examination at the time of making such election. It is the intention of this option that the City's outlay for retirement benefits shall not be increased and that the amount payable to the employee and his spouse under the option shall be the equivalent as accurately determined of what the employees would have received if he had not elected the option. This option is also intended to be patterned after such option available in the Connecticut State Municipal Employees Retirement Fund.
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Optional Benefit. 4 – DELAY OF CHECKED-IN BAGGAGE
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Optional Benefit 
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Related to Optional Benefit

  • Optional Benefits Optional Group Life Insurance This plan is available on an optional, employee-pay-all basis and you may apply to purchase additional group life insurance coverage for you and/or your spouse. Coverage is available from a minimum of $10,000 to a maximum of $300,000 in increments of $10,000.

  • Early Termination Benefit If Early Termination occurs, the Bank shall distribute to the Executive the benefit described in this Section 2.2 in lieu of any other benefit under this Article.

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

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

  • 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.

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

  • Change in Control Benefit If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Public Benefit It is Xxxxxxx’x understanding that the commitments it has agreed to herein, and actions to be taken by Xxxxxxx under this Settlement Agreement, would confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of Xxxxxxx that to the extent any other private party initiates an action alleging a violation of Proposition 65 with respect to Xxxxxxx failure to provide a warning concerning exposure to DEHP prior to use of the Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Products addressed in this Settlement Agreement, provided that Xxxxxxx is in material compliance with this Settlement Agreement.

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