Covered Group and Benefits Sample Clauses

Covered Group and Benefits. A teacher member of the Retirement Benefit Buy-Out Program who is fifty (50) years of age or over, with twenty (20) years of experience, ten (10) of which are at the Lake Central School Corporation or who has twenty-five (25) years of experience in the Lake Central School Corporation, may elect to retire from the Corporation and receive a one-time supplemental retirement benefit of two thousand ($2000), plus fifty dollars ($50) for each unused sick leave day. Teachers in the Buy-Out Plan group will receive seventy dollars ($70) for each unused sick leave day that is accumulated above the total accumulated as of July 1, 2015. Example: Total # days accumulated as of June 30, 0000 000 x 00 = $10,000 Total # days accumulated at retirement 278 Less # days at June 30, 2015 -200 78 x 70 = $ 5,460 Total supplemental retirement benefit: $15,460 2. Method of Payment Retirement benefits shall be paid in the teacher’s last school year to a 401 (a) plan account.
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Related to Covered Group and Benefits

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

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  • PENSION AND BENEFITS 26:01 Employees are eligible to participate in the Pension Plan; Long Term Disability Plan; Group Life and Survivor Income Plan; Dental Care Plan; Extended Health Care Plan; Semi-Private Hospital Accommodation Plan; Joint Membership Plan; and Vision Care Plan, as summarized in Schedules “B” to “I” attached hereto.

  • Taxes and Benefits Contractor is responsible for all federal or state taxes applicable to compensation or payments paid to Contractor under this Contract and, unless required by applicable law, Agency will not withhold from such compensation or payments any amount to cover Contractor's federal or state tax obligations. Contractor is not eligible for any social security, unemployment insurance or workers' compensation benefits from compensation or payments paid to Contractor under this Contract, except as a self-employed individual.

  • Compensation and Benefits As compensation for all services performed by the Executive under and during the term hereof and subject to performance of the Executive’s duties and of the obligations of the Executive to the Company and its Affiliates, pursuant to this Agreement or otherwise:

  • ELHT Benefits The Parties agree that since all active eligible employees have now transitioned to the OSSTF ELHT all references to existing life, health and dental benefits plans in the applicable local collective agreement for active eligible employees shall be removed from that local agreement. Post Participation Date, the following shall apply:

  • Insurance and Benefits Company shall allow Executive to participate in each employee benefit plan and to receive each executive benefit that Company provides for senior executives at the level of Executive's position.

  • Sick Benefits 15.01 Eligible employees will receive Short Term Disability Benefits in accordance with the terms and conditions outlined in the STD Plan Text, a copy of which has been supplied to the Union. The STD plan forms part of this Collective Agreement.

  • Burden and Benefit This Agreement shall enure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators, successors and permitted assigns.

  • Salaries and Benefits (i) Seller shall be responsible for (A) the payment of all wages and other remuneration due to Active Employees with respect to their services as employees of Seller through the close of business on the Closing Date, including pro rata bonus payments and all vacation pay earned prior to the Closing Date; and (B) the payment of any termination or severance payments and the provision of health plan continuation coverage in accordance with the requirements of COBRA and Sections 601 through 608 of ERISA.

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