Common use of Retiree Benefits – Process for Payment Clause in Contracts

Retiree Benefits – Process for Payment. Any bargaining unit nurse who retires and wishes to participate in the benefit plans as outlined in Article 17.01 (h) will provide advance payment of the benefits either through post-dated cheques provided on a yearly basis or through a preauthorised withdrawal process. The benefits provided will be on the same basis as those benefits provided to active employees. It is understood that any transaction would be dated the first of each and every month. The Employer will notify the Union and all participating employees of the benefit costs to retired nurses in January of each year, and each and any time the benefit costs are changed.