Continuing Group definition
Examples of Continuing Group in a sentence
For the purposes of (1) and (2) above, years of participation (prior to age 65) in Group Life and Disability Insurance, if any, after an employee last ceases active work before age 65, are added to creditable service under the Retirement Pension Plan in determining eligibility for and amount of Continuing Group Life Insurance.
The Continuing Group Life Insurance (CGL) amount will be determined by multiplying by 1 1/2% his/her years of creditable service under the Retirement Pension Plan at the end of the month in which he/she attains age 65.
However the amount of insurance shall be gradually reduced (at the rate of 2% of the amount in force at age 65) each month after he/she becomes age 65 until an ultimate amount of Life Insurance called "Continuing Group Life Insurance" (CGL) is reached.
For purposes of (1) and (2) above, years of participation (prior to age 65) in Group Life and Disability Insurance, if any, after an employee last ceases active work before age 65, are added to creditable service under the Retirement Pension Plan in determining eligibility for and amounts of Continuing Group Life Insurance.
However, the amount of insurance shall be gradually reduced (at the rate of 2% of the amount in force at age 65) each month after he/she becomes age 65 until an ultimate amount of Life Insurance called "Continuing Group Life Insurance" (CGL) is reached.
The Continuing Group Life Insurance (CGL) amount will be determined by multiplying by 1-1/2% his/her years of creditable service under the Retirement Pension Plan at the end of the month in which he/she attains age 65.
The Continuing Group Life Insurance (CGL) amount will be determined by multiplying by 1-½% his/her years of creditable service under the Retirement Pension Plan at retirement (company seniority at retirement for an employee hired on or after November 7, 2016).
The Continuing Group Life Insurance (CGL) amount will be determined by multiplying by 1 1/2% his/her years of creditable service under the Retirement Pension Plan at the retirement.
To the extent that the obligations of Group Companies on a Group Guaranty are not terminated and the applicable Group Company is not released as of the Closing (a Group Guaranty not so terminated being a "Continuing Group Guaranty"), the Parties shall continue to use their commercially reasonable efforts to terminate the Continuing Group Guaranty as soon as practicable following the Closing.
An employee who is living on the date of this letter and who last worked prior to October 4, 1993, but on or after October 22, 1990, and otherwise is eligible for Continuing Group Life Insurance after age sixty-five (65) shall have a minimum of CGL of $4,500.