Common use of Election of Form of Benefit Clause in Contracts

Election of Form of Benefit. Within thirty (30) days of receiving written notice of an employee’s retirement, the City of Madison shall elect the form in which the retiring employee will receive the benefit. The Benefit can only be paid to the retiring employee in one of the forms set forth in paragraph D2 of this section. In making the election, The City of Xxxxxxx will consider several established factors including the retiring employee’s access to other health insurance coverage, the value of the retiring employee’s unused accumulated sick leave and extra retirement pay, and the ability of the retiring employee to demonstrate the need for coverage. The City of Xxxxxxx will notify the retiring employee in writing (within the thirty (30) day time period identified above) of the election made by the City of Madison.

Election of Form of Benefit. Within thirty (30) days of receiving written notice of an employee’s retirement, the City of Madison shall elect the form in which the retiring employee will receive the benefit. The Benefit can only be paid to the retiring employee in one of the forms set forth in paragraph D2 e 2 of this sectionagreement. In making the election, The the City of Xxxxxxx will consider several established factors including the retiring employee’s access to other health insurance coverage, the value of the retiring employee’s unused accumulated sick leave and extra retirement pay, and the ability of the retiring employee to demonstrate the need for coverage. The City of Xxxxxxx will notify the retiring employee in writing (within the thirty (30) day time period identified above) of the election made by the City of Madison.

Election of Form of Benefit. Within thirty (30) days of receiving written notice of an employee’s retirementRetirement, the City of Madison shall elect the form in which the retiring employee will receive the benefit. The Benefit can only be paid to the retiring employee in one of the forms set forth in paragraph D2 of this sectionSection e(2), below. In making the election, The City of Xxxxxxx will consider several established factors including the retiring employee’s access to other health insurance coverage, the value of the retiring employee’s unused accumulated sick leave and extra retirement pay, and the ability of the retiring employee to demonstrate the need for coverage. The City of Xxxxxxx will notify the retiring employee in writing (within the thirty (30) day time period identified above) of the election made by the City of Madison.