Deferral Period (Benefits Structuring Sample Clauses

Deferral Period (Benefits Structuring. During the deferral period, any benefits related to the rate of wages shall be structured according to the wages the participant would have received during the deferral period had he/she not been in the Plan.
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Deferral Period (Benefits Structuring. During the deferral period, any benefits related to the rate of wages shall be structured according to the wages the participant would have received during the deferral period had he/she not been in the Plan. Employee Benefit Coverage and Premiums A participant's coverage for Life Insurance Semi-Private coverage, L.T.D., Green Shield Drug, Dental and Vision coverage, in effect immediately prior to the leave, will be maintained by the University during his/her leave of absence, if eligibility conditions permit. Leave Period (Benefits Structuring) During the leave period, any benefits related to the rate of wages shall be structured according to the rate of wages the participant would have received immediately prior to the leave had he/she not been in the Plan. No employee will receive any additional remuneration from the University during the leave period. Pension Contributions will be maintained by both parties at nominal salary for pension purposes. This provision is subject to the necessary amendments being made to the Pension Plan and being approved by Canada Revenue Agency and the Financial Services Commission of Ontario.
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Deferral Period (Benefits Structuring. During the deferral period, any benefits related to the rate of wages shall be structured according to the wages the participant would have received during the deferral period had not been in the Plan. Employee Benefit Coverage Premiums A participant's coverage for Life Insurance, Extended Health, Dental, Vision, and Hearing Care Plans coverage, in effect immediately prior to the leave, will be maintained by the College during leave of absence, if eligibility conditions permit; however, the premiumcosts of all such Plans shall be paid by the participantduring leave. Leave Period (Benefits Structuring) During the leave period, any benefits related to the rate of wages shall be structured according to the rate of wages the participantwould have received immediatelyprior to the leave had not been in the Plan. Payout At the commencement of the period of leave, the College shall pay to the participant the moneys standing to credit less any premiums or contributions deducted for the year, except as may otherwise be mutually agreed, it being understood that interest is not earned for the period of leave.
Sample 1
Deferral Period (Benefits Structuring. During the deferral period, any benefits related to the rate of wages shall be structured according to the wages the participant would have received during the deferral period had he/she not been in the Plan. Employee Benefit Coverage and Premiums A participant's coverage for benefits under Article 19.1 through 19.7 and 19.9 in effect immediately prior to the leave, will be maintained by the Employer during his/her leave of absence, if eligibility conditions permit, however, the premium costs of all such Plans shall be on a 50/50 basis. Leave Period (Benefits Structuring) During the leave period, any benefits related to the rate of wages shall be structured according to the rate of wages the participant would have received immediately prior to the leave had he/she not been in the Plan. Pension Contributions will be maintained by both parties at nominal salary for pension purposes. This provision is subject to the necessary amendments being made to the Retirement Plan and being approved by Revenue Canada and the Pension Commission of Ontario. [NOTE: Pension Plan Contributions shall be as per the rules governing OMERS.] Payout At the commencement of the period of leave, the Employer shall pay to the participant the monies standing to his/her credit less any premiums or contributions deducted for the year, except as may otherwise be mutually agreed, it being understood that interest is not earned for the period of leave.
Sample 1

Related to Deferral Period (Benefits Structuring

  • 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.

  • 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.

  • Deferred Compensation Program ‌ Unit members shall continue to be eligible to join the County’s Deferred Compensation Plan. Said employees will be bound by the same Plan, rules and participation agreements as are generally applicable to other County employees. DSA acknowledges that County retains the right to alter, amend, or repeal the current plan, rules, and participation agreements, at any time. The County shall not charge an administrative fee to participating employees.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Employee Compensation Upon Separation An Employee, upon her separation from employment, shall be compensated for vacation leave to which she is entitled.

  • Retroactive Pay for Terminated Employees An employee who has retired or severed his/her employment between the termination date of this Agreement and the effective date of the new Agreement shall receive the full retroactivity of any increase in wages, salaries or other benefits.

  • Accrued Benefits The term "Accrued Benefits" shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Covered Benefits and Services The Contractor shall provide to its Hoosier Healthwise members, at a minimum, all benefits and services deemed “medically reasonable and necessary” and covered by the IHCP, and included in the Indiana Administrative Code and under the Contract with the State. A covered service is considered medically necessary if it meets the definition as set forth in 405 IAC 5-2-17. The Contractor shall deliver covered services sufficient in amount, duration or scope to reasonably expect that provision of such services would achieve the purpose of the furnished services. Costs for these services are the basis of the Contractor’s capitation rate and are, therefore, the responsibility of the Contractor. Coverage may not be arbitrarily denied or reduced and is subject to certain limitations in accordance with CFR 438.210(a)(4), which specifies when Contractors may place appropriate limits on services:  On the basis of criteria applied under the State plan, such as medical necessity; or  For the purpose of utilization control, provided the services furnished are sufficient in amount, duration or scope to reasonably be expected to achieve the purpose for which the services are furnished.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

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