Calculation of Retirement Allowance Sample Clauses

Calculation of Retirement Allowance. The salary which shall be used to calculate the amount of Retirement Allowance in accordance with Article 26.01 shall be the highest salary the employee was paid in a permanent position during her employment with the Employer.
AutoNDA by SimpleDocs
Calculation of Retirement Allowance. The employer agrees to pay the employee one month salary retirement allowance when the one-year Contract is terminated.
Calculation of Retirement Allowance. The salary which shall be used to calculate the amount of Retirement Allowance in accordance with Article 26.01 shall be the highest salary the employee was paid in a permanent position during her employment with the Employer. 27.01 The Employer will continue the existing pension and insurance plans as amended from time to time. The conditions established in these plans respecting 27.02 The Employer shall pay sixty-five percent (65%) of the cost of premiums of the Nova Scotia Association of Health Organizations Blue Cross Medical Insurance and the Nova Scotia Association of Health Organizations Dental Care Plan or their equivalents. This provision shall apply to employees who agree to pay the other thirty-five percent (35%) of the premium. Participation in the Dental Care Plan is mandatory for all employees who meet the eligibility requirements, unless the employee provides proof of alternate coverage through a spouse’s plan. 27.03 The Union if it requests, may review the current financial statement of the existing pension plan.
Calculation of Retirement Allowance. The salary which shall be used to calculate the amount of Retirement Allowance in accordance with Article 26.01 shall be the highest salary the employee was paid in a permanent position during her employment with the Employer. 27.01 The Employer will continue the existing pension and insurance plans as amended from time to time. The conditions established in these plans respecting eligibility and contributions shall govern, notwithstanding any other provisions of this Agreement. 27.02 The Employer shall pay sixty-five percent (65%) of the cost of premiums of the Nova Scotia Association of Health Organizations Blue Cross Medical Insurance and the Nova Scotia Association of Health Organizations Dental Care Plan or their equivalents. This provision shall apply to employees who agree to pay the other thirty-five percent (35%) of the premium. Participation in the Dental Care Plan is mandatory for all employees who meet the eligibility requirements, unless the employee provides proof of alternate coverage through a spouse’s plan. 27.03 The Union if it requests, may review the current financial statement of the existing pension plan.

Related to Calculation of Retirement Allowance

  • Retirement Allowance Prior to issuing notice of layoff pursuant to article 9.08(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 9.08(a)(ii). An employee who elects an early retirement option shall receive, following completion of the last day of work, a retirement allowance of two weeks' salary for each year of service, plus a prorated amount for any additional partial year of service, to a maximum ceiling of 26 weeks' salary, and, in addition, full-time employees shall receive a single lump-sum payment equivalent to $1,000 for each year less than age 65 to a maximum of $5,000 upon retirement."

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!