Benefit Restoration Clause Samples

The Benefit Restoration clause ensures that any benefits reduced, suspended, or lost due to certain events or conditions are reinstated once those conditions no longer apply. In practice, this means if an employee’s benefits are temporarily halted—such as during a leave of absence or while on disability—those benefits will be restored to their previous level when the employee returns to active status or the qualifying event ends. This clause provides assurance to employees that their benefits will not be permanently affected by temporary changes, thereby protecting their entitlements and reducing uncertainty.
Benefit Restoration. All benefits to which a faculty member was entitled at the time of layoff shall be restored in full upon re-employment if recalled during the two (2) years following the layoff. An employee who held a tenured status appointment on the date of termination by reason of layoff shall resume the tenured status appointment upon recall. The employee shall receive the same credit for years of service for purposes of layoff as held on the date of layoff.
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Benefit Restoration. Upon recall to a position covered by this Agreement, the recalled employee shall have all accruals of sick leave restored, and shall have the sick leave and vacation accrual rate either as in effect through the date of the layoff or a higher rate if it has been negotiated by subsequent bargaining agreements.
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Benefit Restoration. An employee who is on layoff status shall have seniority broken, but shall not lose rights for recall. Upon recall to a position covered by this Agreement, the recalled employee shall have all accruals of sick leave restored, and shall have the sick leave and vacation accrual rate either as in effect through the date of the layoff or a higher rate if it has been negotiated by subsequent bargaining agreements.
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Benefit Restoration. All benefits to which a faculty member was entitled at the time of layoff shall be restored in full upon re-employment if recalled during the two
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Related to Benefit Restoration

  • Restoration of Vacation Leave In the event an employee is injured or becomes ill while on vacation leave, the employee may submit a written request to use sick leave and have the equivalent amount of vacation leave restored. The supervisor may require a written medical certificate.

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and ▇▇▇▇ individual retirement accounts (“▇▇▇ Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Public Benefit It is ▇▇▇▇▇▇▇'s understanding that the commitments it has agreed to herein, and actions to be taken by Praeger under this Settlement Agreement confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of ▇▇▇▇▇▇▇ that to the extent any other private party serves a notice and/or initiates an action alleging a violation of Proposition 65 with respect to Praeger's alleged failure to provide a warning concerning actual or alleged exposure to cadmium prior to use of the Covered Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Covered Products addressed in this Settlement Agreement, provided that Praeger is in material compliance with this Settlement Agreement.