Benefits on Retirement. The Hospital will provide equivalent coverage to all employees who retire early and have not yet reached age and who are in receipt of the Hospital's pension plan benefits on the same basis as is provided to active employees for semi-private, extended health care and dental benefits. The hospital will contribute the same portion towards the billed premiums of these benefit plans as is currently contributed by the Hospital to the billed premiums of active employees. The early-retired employee's share towards the billed premium of the insured benefit plans will be deducted from his or her monthly pension cheque.
Benefits on Retirement. Provided that all full-time employees who retire directly from the company have completed at least two (2) years continuous service, and are immediately in receipt of a pension benefit from the OPSEU/OPB and/or OMERS Pension Plan, and do not have duplication of coverage, excluding life insurance, through another provider, the following group insurance benefits shall be provided at no cost to the employee. Coverage will be provided for the employee and dependent spouse.
Benefits on Retirement. The Hospital will provide equivalent coverage to all employees who retire early and have not yet reached age sixty-five (65) and who are in receipt of the Hospital’s pension plan benefits on the same basis as is provided to active employees for semi-private, extended health care and dental benefits. The Hospital will contribute the same portion towards the billed premiums of these benefits plans as is currently contributed by the Hospital to the billed premiums of active employees. A copy of all current master policies of the benefits referred to in this article shall be provided to the union. It is understood that the Hospital may at any time substitute another carrier for any Plan (other than provided that the benefits conferred thereby are substantially the same. Before making such a substitution, the Hospital shall notify the Union to explain the proposed change and to ascertain the views of the employees. Upon a request by the Union, the Hospital shall provide to the Union, full specifications of the benefit programs contracted for and in effect for employees covered herein. The Participating Hospitals and agree that the maintenance of benefits provided in this collective agreement at the most cost-effective level is an important objective. Accordingly, the parties agree that a joint investigation of a Benefits Trust is worthwhile in order to determine if significant reductions in costs of benefits can be achieved. The parties are committed to: -Meet within the first quarter following the ratification of this agreement and every quarter thereafter to determine the following: The methods by which the investigation will take place Identify potential sources of funding for investigation of the Benefits Trust Identification of the appropriate method to determine the feasibility of the Trust On date of hire or during appropriate orientation, the Hospital will provide full and part-time employees with a copy of the Hospitals of Ontario Pension Plan benefit booklet.
Benefits on Retirement. The Hospital will provide equivalent coverage to all employees who retire early and have not yet reached age and who are in receipt of the Hospital's pension plan benefits on the same basis as is provided to active employees for semi-private, extended health care and dental benefits. The Hospital will contribute the same portion towards the billed premiums of these benefits plans as is currently contributed by the Hospital to the billed premiums of active employees. A copy of all current master policies of the benefits referred to in this article shall be provided to the union. It is understood that the Hospital may at any time substitute another carrier for any plan (other than provided the benefits conferred thereby are substantially the same. Before making such a substitution, the Hospital shall notify the Union to explain the proposed change and to ascertain the views of the employees. Upon a request by the Union, the Hospital shall provide to the Union, full specifications of the benefit programs contracted for and in effect for employees covered herein.
Benefits on Retirement. The Hospital will provide equivalent coverage to all employees who retire early and have not yet reached age and who are in receipt of the Hospital’s pension plan benefits on the same basis as is provided to active employees for semi-private, extended health care and dental benefits. The Hospital will contribute the same portion towards the billed premiums of these benefit plans as is currently contributed by the Hospital to the billed premiums of active employees. A copy of all current master policies of the benefits referred to in this article shall be provided to the union. It is understood that the Hospital may at any time substitute another carrier for any plan (other than provided the benefits conferred thereby are substantially the same. Before making such a substitution,the Hospitalshall notify the Union to explain the proposed change and to ascertain the views of the employees. Upon a request by the Union, the Hospital shall provide to the Union, full specifications of the benefit programs contracted for and in effect for employees covered herein. The Employer undertakes to contribute to the Hospitals of Ontario Pension Plan on such basis as may be determined from time to time by the Plan. All present employees enrolled in the Hospital's Pension Pian shall maintain their enrollment in such plan subject to its terms and conditions. New employees and employees not yet eligible for membership in the plan shall, as a condition of employment, enroll in the plan when eligible in accordance with its terms and conditions. The parties agree that any and all divisible surplus or excess credits or refunds, or reimbursements under whatever name, that may arise during the term of the Collective Agreement and result from a lower premium amount paid by the Hospital under the Ontario Health Insurance Act or any similar legislation, than the total amount paid by the Hospital and the employee at the commencement of the Agreement as premium payments for present health services shall accrue to and for the benefit of the Hospital, notwithstanding any legislation to the contrary, and particularly but without limiting the generality, the Ontario Health Insurance Act or any legislation amending or replacing such Act in whole or in part.
Benefits on Retirement. The normal retirement age is sixty-five (65) however early retirement is permitted at age fifty- five (55). The normal form of pension income is paid as a “Joint and Survivor” benefit, which means the monthly pension benefit is an equal amount paid to you, for you and your spouse’s entire lifetime.
Benefits on Retirement. 33.01 The retirement bonus will be implemented based on the following: Less than 20 years $1000.00 20 - 30 years $1500.00 Greater than 30 years $2000.00
Benefits on Retirement. 33.01 The retirement bonus will be implemented based on the following: Less than 20 years $1000.00 20 - 30 years $1500.00 Greater than 30 years $2000.00 The following is the general wage increases for all classifications: January 1st, 2012 2.0% increase January 1st, 2013 2.0% increase January 1st, 2014 2.0% increase The Clinic Assistant classification will receive a thirty (30) cent wage adjustment January 1st, 2012. Signed this day of , 0000 xx Xxxxxxx Xxx, Xxxxxxx. FOR THE UNION: FOR THE FAMILY HEALTH ORGANIZATION: When a new classification (which is covered by the terms of this Agreement) is established by the employer, the employer shall determine the rate of pay for such new classification and notify the Local Union of the same within seven (7) days. If the Local challenges the rate, it shall have the right to request a meeting with the employer to endeavor to negotiate a mutually satisfactory rate. Such a request will be made within ten (10) days after the receipt of notice from the employer of such new occupational classification and rate. Any change mutually agreed to resulting from such meeting shall be retroactive to the date that the notice of the new rate was given by the employer. If the parties are unable to agree, the dispute concerning the new rate may be submitted to arbitration as provided in the Agreement within fifteen (15) days of such meeting. The decision of the Board of Arbitration (or Arbitrator as the case may be) shall be based on the relationship established by comparison with the rates for other classifications in the bargaining unit having regard to the requirements of such classification. When the employer makes a substantial change during the term of this agreement in the job content of an existing classification which in reality changes such classification, the employer agrees to meet with the Union, to permit the Union to make representation with respect to the appropriate rate of pay. If the matter is not resolved following the meeting with the Union, the matter may be referred to arbitration as provided in the Agreement within fifteen (15) days of such meeting. The decision of the Arbitrator shall be based on the relationship established by comparison with the rates for other classifications in the bargaining unit having regard to the requirements of such classifications. The parties further agree that any change mutually agreed to or awarded as a result of arbitration shall be retroactive only to the date that the Union...
Benefits on Retirement. 44.1 Employees who retire and who have at least five (5) years of continuous service are entitled to full group benefits for a period not to exceed one year (1) from the first full month after their date of retirement. It is recognized that normal retirement age is between sixty (60) and sixty- five (65) years of age. It is understood by both parties, that upon completion of thirty (30) years of seniority, an employee will be eligible for all retirement benefits as listed in this article.
44.2 Retired employees who wish to continue their prescription drug and prescription eyeglass benefits have the option of continuing their coverage by paying any applicable premiums and/or co-payments. Retired employees will be provided with $10,000.00 of life insurance coverage.
Benefits on Retirement. Each Participant who retires in accordance with Section 6.1 or 6.2 shall be entitled to a benefit, payable as provided in Section 7.5, equal to the balance of his or her Accounts, determined as of the Valuation Date coinciding with or immediately preceding the date distribution is to be made or commence.
