Accumulation Members and Former BT Employer Plan Members Sample Clauses

Accumulation Members and Former BT Employer Plan Members. (a) A benefit is payable t o or in respect of a Category 1 Accumulation Member and a Former BT Employer Plan Member who: (i) dies; (ii) becomes Totally and Permanently Disabled and the Trustee accepts a claim for a benefit; (iii) becomes Terminally I ll and the Trustee accepts a claim for a benefit; or (iv) otherwise satisfies a c ondition of release set out in the Relevant Law and the Trustee accepts a claim for a benefit. (b) The benefit payable u nder: (i) rule 2.3(a)(i) is an am ount equal to the balance of the Member's Account, including any amount credited to the Member’s Account under rule 1.4(c); and (ii) rules 2.3(a)(ii), (iii) a nd (iv) is a lump sum equal to such part of the Member's Account, including any amount credited to the Member’s Account under rule 1.4(c), as the Member requests and the Trustee approves. (c) If the Trustee has tak en out an Insurance Policy covering Total and Temporary Disablement in respect of a Category 1 Accumulation Member or a Former BT Employer Plan Member (other than a Temporary Employee), the Member suffers Total and Temporary Disablement and the Trustee accepts a claim for a benefit, a benefit is payable to the Member equal to the amount paid under the Insurance Policy. (d) A benefit is payable t o or in respect of a Retained Benefits Member who: (i) dies; (ii) becomes Totally and Permanently Disabled and the Trustee accepts a claim for a benefit; (iii) becomes Terminally I ll and the Trustee accepts a claim for a benefit; or (iv) otherwise satisfies a c ondition of release set out in the Relevant Law and the Trustee accepts a claim for a benefit. (e) The benefit payable u nder: (i) rule 2.3(d)(i) is an am ount equal to the balance of the Member's Account, including any amounts credited to the Member’s Account under rule 1.4(c); and (ii) rules 2.3(d)(ii), (iii) a nd (iv) is a lump sum equal to such part of the Member's Account, including any amount credited to the Member’s Account under rule 1.4(c), as the Member requests and the Trustee approves. (f) If a Retained Benefit s Member has insurance cover in relation to Total and Temporary Disablement as a result of a transfer of insurance cover from the Savings Account of BT Super for Life, the Member suffers Total and Temporary Disablement and the Trustee accepts a claim for a benefit, a benefit is payable to the Member equal to the amount paid under the Insurance Policy. (g) A benefit is payable t o or in respect of an Insurance Only Member who: (i) dies; (ii) be...
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Related to Accumulation Members and Former BT Employer Plan Members

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Participation in Retirement and Employee Benefit Plans The Employee shall be entitled to participate in all plans relating to pension, thrift, profit-sharing, group life and disability insurance, medical and dental coverage, education, cash bonuses, and other retirement or employee benefits or combinations thereof, in which the Bank's executive officers participate.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Executive Benefit Plans The Executive shall be entitled to participate in all plans or programs sponsored by the Company for employees in general, including without limitation, participation in any group health, medical reimbursement, or life insurance plans.

  • Participating Employers As of the Effective Date, the following Participating Employer(s) are parties to the Plan:

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Related Employers If any member of the Employer's related group (as defined in Section 1.30 of the Plan) executes a Participation Agreement to this Adoption Agreement, such member's Employees are eligible to participate in this Plan, unless excluded by reason of an exclusion classification elected under this Adoption Agreement Section

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement. 8.2 Contributions shall be recorded on a remittance form and remitted to the designated recipient of such contributions on or before the fifteenth (15) day of the month following the month for which contributions are to be made. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds, as liquidated damages and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter, interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 8.3 The amounts to be designated as wages and/or Employer contributions to the above funds may be varied from time to time by agreement between the Association and the Union. 8.4 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Funds, including provisions for audit security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. 8.5 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 8.6 All employer contributions due and payable to the above funds, except industry promotion funds, shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds and industry promotion funds are not wages or benefits due to an employee and industry promotion funds are dues for services rendered by the Association. 8.7 The Business Representative of the Local Union may inspect, during regular business hours, the Company's record of time worked by employees and contributions to the plan. 8.8 The Employer shall be responsible for the payment of any government sales taxes applicable to any trust fund contributions payable by the Employer.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time-to-time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time-to-time by the Company for the benefit of its senior executives, other than any annual cash incentive plan.

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