Continuation of Benefits on Retirement Sample Clauses

Continuation of Benefits on Retirement. 22.1 Effective April 23, 2008 Health and Welfare benefits applicable to active employees will continue until age 65 for employees:
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Continuation of Benefits on Retirement. Subject to eligibility requirements as specified by the carriers, an employee who takes early retirement on a pension pursuant to the Plan (with payments to begin within two (2) months of the employee‘s retirement date), may retain membership in any of the plans to which belongs at the time of retirement until attains the age of sixty-five (65) years. To maintain participation and coverage under the Agreement, the retired employee must agree to participate in a debit plan to pay the full monthly premiums. The retired employee shall supply the Board with a VOID cheque from bank account. Deductions will be made from the employee’s account on the first banking day of each month. The Board reserves the right to discontinue participation in the benefit plans for anyone should any two payments be denied for insufficientfunds. The Board reserves the right to establish a separate group for retirees with premiums determined on the basis of the participants in the group. Notwithstanding (a) above, the Board also reserves the right to establish a separate “retirees’ benefit package” which may or may not include all of the employee benefits available in this article and to reservethe right to delegate the administration of retiree benefits to a third party. The Board will advise the union of details of the retirees’ benefit package prior to making any changes to the existing plan. Payment of Benefits while on Subject to the eligibility requirements as specified by the carrier, the Board shall continue to pay its share of the premium cost for outlined in Extended Health Care, Group Insurance and Dental, for the first twenty-four (24) months of absence of an employee receiving Subject to the eligibility requirements as specified by the carrier, for the period beyond the aforementioned twenty-four (24) months, the employee receiving benefits may continue to participate in the benefit plans provided that the employee pays of the premium costs. ARTICLE RETIREMENT AGE The mandatory retirement age of employees is years of age.
Sample 1
Continuation of Benefits on Retirement. (a) Subject to eligibility requirements as specified by the carriers, an employee who takes early retirement on a pension pursuant to the Plan (with payments to begin within two (2) months of the employee’s retirement date), may retain membership in any of the plans to which belongs at the time of retirement until attains the age of (65) years. To maintain participation and coverage under the Agreement, the retired employee must agree to participate in a debit plan to pay the full monthly premiums. The retired employee shall supply the Board with a VOID cheque from bank account. Deductions will be made from the employee's account on the first banking day of each month. The Board reserves the right to discontinue participation in the plans for anyone should any two payments be denied for insufficient funds. The Board reserves the right to establish a separate group for retirees with premiums determined on the basis of the participants in the group.
Sample 1

Related to Continuation of Benefits on Retirement

  • Continuation of Benefits Following the termination of Executive’s employment hereunder, the Executive shall have the right to continue in the Company’s group health insurance plan or other Company benefit program as may be required by COBRA or any other federal or state law or regulation.

  • 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.

  • Duration of Benefits Eligibility for Income Protection benefits will cease upon the earliest of the following dates:

  • Retention of Benefits Union leave under the following four (4) sections will be unpaid. The Employer will maintain regular pay and xxxx the Union for the costs of the employee’s salary and benefits. If the Union member is part-time or casual, and the leave is greater than their normal work hours, the Employer will pay the employee for the full length of the leave requested by the Union. The Employer will xxxx the Union for these days as noted above. The Union will pay these invoices within twenty-eight (28) days. Union leave is not unpaid leave for the purposes of Article 22.02 [i.e. such leave will not affect the employee’s benefits, seniority or increment anniversary date].

  • Limitation of Benefits (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any benefit, payment or distribution by the Company to or for the benefit of the Executive (whether payable or distributable pursuant to the terms of this Agreement or otherwise) (a "Payment") would, if paid, be subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then the Payment shall be reduced to the extent necessary to avoid the imposition of the Excise Tax. The Executive may select the Payments to be limited or reduced.

  • COMPUTATION OF BENEFITS All hours paid to an employee shall be considered as hours worked for the purpose of computing any of the benefits under this Agreement.

  • Payment of Benefits a) In computing the amount of disability benefits, disability will be considered as starting from the first day of disability; however, an employee must be certified by a medical practitioner for the disability within the first three days of disability. In the event that the employee is not certified within the first three days, disability will be considered as starting two complete days prior to the day that the employee is actually certified by a medical practitioner.

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