HEALTH BENEFITS AND PENSION PLAN Sample Clauses

HEALTH BENEFITS AND PENSION PLAN. The Employer agrees to give full cooperation to CLAC’s Benefit Administration Office for the health & pension benefits of all employees covered under this Agreement. The CLAC Health Fund and the CLAC Pension Plan are maintained and administered by the Union and supervised by Boards of Trustees.
Sample 1
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HEALTH BENEFITS AND PENSION PLAN. 14.01 In order to protect the employees and their families from the financial hazards of illness, the Employer agrees to give full cooperation to the Christian Labour Association of Canada Health Fund for the benefits of all employees covered under this Agreement. The Employer’s sole responsibility with regard to health benefits, unless otherwise indicated, shall be the negotiated health fund remittance. 14.02 The Employer shall contribute the following monthly amount, per bargaining unit employee, to the CLAC Health Fund, regardless of actual hours worked, once an employee has completed his four (4) month probationary period: Effective June 1, 2016 - $345/month (equal to $2.30/hr for an avg of 150 hours) Effective June 1, 2017 - $365/month (equal to $2.44/hr for an avg of 150 hours) Effective June 1, 2018 - $375/month (equal to $2.50/hr for an avg of 150 hours) Health Fund contributions shall be used to pay for the costs of Health Fund coverage for each employee. 14.03 In addition to the above, the Employer shall, for all employees who have successfully completed their probationary period, or have returned from a leave of absence that extends beyond two (2) months, excluding personal leave*, immediately remit to the Health Fund, three (3) months contributions, at the applicable monthly amount specified in 14.02 above. *Personal Leave is defined as leave unrelated to illness, injury or any other reason that is medically justified, or leave that is not covered by legislation. 14.04 Any shortfalls towards qualifying for Plan eligibility shall be the employee’s responsibility.
Sample 1
HEALTH BENEFITS AND PENSION PLAN. 14.01 The Union warrants and represents that the Union’s Health & Welfare Trust Fund (the “Trust Fund”) is established to provide insurance and related benefit programmes for the Plan Members. The Trust Fund is supervised by a board of trustees including employer and union trustees. 14.02 The Employer agrees to remit an amount equal to the monthly premium for each post-probationary employee. For new employees, the Employer agrees to begin remittance of monthly premium to enable health care benefit coverage on the 1st day of the month following the completion of the three (3) month probationary period. Such remittance shall be made in accordance with the Remittances to the Union article (Article 7) and the Union’s dues and remittance policy and directive. 14.03 In the event an employee is attending trade school, the Employer shall continue to pay the premiums for all the insurances on behalf of such employee for the duration of his time in school. 14.04 In the event an employee is unable to continue work due to a layoff, the Employer shall continue to pay the premiums for all the insurances on behalf of such employee for a period of the month of layoff plus two (2) additional months. 14.05 In the event an employee is unable to continue to work due to sickness or accident/injury, which is not job-related, the Employer shall continue to pay the premiums for all insurances on behalf of such employee for a period of the month in which the employee last worked plus two (2) additional months. 14.06 In the event an employee is unable to continue to work due to job-related sickness or accident/injury, the Employer shall continue to pay the premiums for all the insurances not covered by W.S.I.B. on behalf of such employee for the period of not less than twelve (12) months. 14.07 The Employer will cooperate in providing information as necessary for the proper administration of the Trust Fund, including the information outlined in the Remittance to the Union provisions in Article 6 and the Union’s dues and remittance policy and directive. The Employer further agrees to inform the Union of any changes in the above employee information. 14.08 The Trust Fund will be responsible for the timely reporting of taxable benefit amounts attributable to participation in the Trust Fund. Such communication will be in the form of T4A information slips issued by the Trust Fund or any other documentation that may be required for reporting to Canadian provincial or federal tax authorit...
Sample 1
HEALTH BENEFITS AND PENSION PLAN a. In order to protect employees and their families from the financial hazards of illness, the Employer agrees to pay the monthly benefit premiums required by the Union, to a specified maximum, toward the purchase of health benefit coverage for each eligible employee. In this article, “eligible employee” refers only to full-time, non-probationary employees, unless otherwise stated. b. The Employer shall pay monthly benefit premiums as follows: Effective as of ratification – to a maximum of $407 per month Effective June 1, 2020 – to a maximum of $423 per month Effective June 1, 2021 – to a maximum of $440 per month 14.02 The employees shall be accountable for any cost difference between the amount of the benefit contribution made by the Employer and the actual cost of the benefits provided through the CLAC Health Fund. 14.03 Health benefit coverage shall be determined by the Union. a. In the event of interruption of work for any reason other than sickness or accident/injury, the Employer agrees to remit the above specified contributions for a period of at least three (3) months. b. In the event of interruption of work due to sickness or accident/injury, the Employer agrees to remit the above specified contributions for a period of at least three (3) months. In case of sickness, a doctor’s certificate may be required. c. Despite the requirement for continuation of contributions in a. and b. above, a bargaining unit employee’s hour bank account shall be first payer for such continued monthly premiums costs, where there are sufficient funds in the employee’s hour bank account. The Employer shall pay the difference of the premium cost, during the continuation period, where the employee’s hour bank account has insufficient funds to pay for the whole continuation period.
Sample 1
HEALTH BENEFITS AND PENSION PLAN. It is noted by the parties that, should a more suitable benefit plan become known to either party, it may be referred to the Labour Management Committee for consideration during the course of this agreement.
Sample 1
HEALTH BENEFITS AND PENSION PLAN. 14.01 In order to protect the employees and their families from the financial hazard of illness or accident, as well as to provide employees with retirement savings, the Employer agrees to give full cooperation to the CLAC Health Fund.
Sample 1

Related to HEALTH BENEFITS AND PENSION PLAN

  • Retiree Health Benefits 1. There is currently in effect a retiree health benefit program for retired members of LACERS under LAAC Division 4, Chapter 11. All covered employees who are members of LACERS, regardless of retirement tier, shall contribute to LACERS four percent (4%) of their pre-tax compensation earnable toward vested retiree health benefits as provided by this program. The retiree health benefit available under this program is a vested benefit for all covered employees who make this contribution, including employees enrolled in LACERS Tier 3. 2. With regard to LACERS Tier 1, as provided by LAAC Section 4.1111, the monthly Maximum Medical Plan Premium Subsidy, which represents the Kaiser 2-party non-Medicare Part A and Part B premium, is vested for all members who made the additional contributions authorized by LAAC Section 4.1003(c). 3. Additionally, with regard to Tier 1 members who made the additional contribution authorized by LAAC Section 4.1003(c), the maximum amount of the annual increase authorized in LAAC Section 4.1111(b) is a vested benefit that shall be granted by the LACERS Board. 4. With regard to LACERS Tier 3, the Implementing Ordinance shall provide that all Tier 3 members shall contribute to LACERS four percent (4%) of their pre-tax compensation earnable toward vested retiree health benefits, and shall amend LAAC Division 4, Chapter 11 to provide the same vested benefits to all Tier 3 members as currently are provided to Tier 1 members who make the same four percent (4%) contribution to LACERS under the retiree health benefit program. 5. The entitlement to retiree health benefits under this provision shall be subject to the rules under LAAC Division 4, Chapter 11 in effect as of the effective date of this provision, and the rules that shall be placed into LAAC Division 4, Chapters 10 and 11, with regard to Tier 3, by the Implementing Ordinance. 6. As further provided herein, the amount of employee contributions is subject to bargaining in future MOU negotiations. 7. The vesting schedule for the Maximum Medical Plan Premium Subsidy for employees enrolled in LACERS Tier 1 and LACERS Tier 3 shall be the same. 8. Employees whose Health Service Credit, as defined in LAAC Division 4, Chapter 11, is based on periods of part-time and less than full-time employment, shall receive full, rather than prorated, Health Service Credit for periods of service. The monthly retiree medical subsidy amount to which these employees are entitled shall be prorated based on the extent to which their service credit is prorated due to their less than full time status.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX 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.

  • Health Benefits For the eighteen (18) month period following the Termination Date, provided that Executive is eligible for, and timely elects COBRA continuation coverage, the Company will pay on Executive’s behalf, the monthly cost of COBRA continuation coverage under the Company’s group health plan for Executive and, where applicable, her spouse and dependents, at the level in effect as of the Termination Date, adjusted for any increase in such level paid by the Company for active employees, less the employee portion of the applicable premiums that Executive would have paid had she remained employed during the such eighteen (18) month period (the COBRA continuation coverage period shall run concurrently with the eighteen (18) month period that COBRA premium payments are made on Executive’s behalf under this subsection 1(a)(ii)). The reimbursements described herein shall be paid in monthly installments, commencing on the sixtieth (60th) day following the Termination Date, provided that the first such installment payment shall include any unpaid reimbursements that would have been made during the first sixty (60) days following the Termination Date. Notwithstanding the foregoing, the Company’s payment of the monthly COBRA premiums in accordance with this subsection 1(a)(ii) shall cease immediately upon the earlier of: (A) the end of the eighteen (18) month period following the Termination Date, or (B) the date that Executive is eligible for comparable coverage with a subsequent employer. Executive agrees to notify the Company in writing immediately if subsequent employment is accepted prior to the end of the eighteen (18) month period following the Termination Date and Executive agrees to repay to the Company any COBRA premium amount paid on Executive’s behalf during such period for any period of employment during which group health coverage is available through a subsequent employer. Notwithstanding the foregoing, the Company reserves the right to restructure the foregoing COBRA premium payment arrangement in any manner necessary or appropriate to avoid fines, penalties or negative tax consequences to the Company or Executive (including, without limitation, to avoid any penalty imposed for violation of the nondiscrimination requirements under the Patient Protection and Affordable Care Act or the guidance issued thereunder), as determined by the Company in its sole and absolute discretion.

  • Fringe Benefits and Perquisites During the Employment Term, the Executive shall be entitled to fringe benefits and perquisites consistent with those provided to similarly situated executives of the Company.

  • Other Benefits and Perquisites The Executive shall be entitled to participate in the benefit plans provided by the Company for all employees, generally, and for the Company’s executive employees. The Company shall be entitled to change or terminate these plans in its sole discretion at any time.

  • Benefits and Perquisites During the Term, Executive shall be entitled to participate in the benefit plans and programs commensurate with Executive’s position, that are provided by the Company from time to time for its senior executives generally, subject to the terms and conditions of such plans which may be amended, modified, or terminated by the Company.

  • SERP Executive is a participant in the BB&T Corporation Non-Qualified Defined Benefit Plan (the “SERP”). The SERP was formerly known as the Branch Banking and Trust Company Supplemental Executive Retirement Plan. The SERP is a non-qualified, unfunded supplemental retirement plan which provides benefits to or on behalf of selected key management employees. The benefits provided under the SERP supplement the retirement and survivor benefits payable from the Pension Plan. Except in the event the employment of Executive is terminated by the Employer or BB&T for Just Cause and except in the event Executive terminates Executive’s employment for any reason other than Good Reason and such termination does not occur within twelve (12) months after a Change of Control (or, if later, within ninety (90) days after a MOE Revocation), the following special provisions shall apply for purposes of this Agreement: (i) The provisions of the SERP shall be and hereby are incorporated in this Agreement. The SERP, as applied to Executive, may not be terminated, modified or amended without the express written consent of Executive. Thus, any amendment or modification to the SERP or the termination of the SERP shall be ineffective as to Executive unless Executive consents in writing to such termination, modification or amendment. The Supplemental Pension Benefit (as defined in the SERP) of Executive shall not be adversely affected because of any modification, amendment or termination of the SERP. In the event of any conflict between the terms of this Section 1.7.7(i) and the SERP, the provisions of this Section 1.7.7 (i) shall prevail. Executive hereby agrees and consents to Employer’s amendment of the SERP to comply with Section 409A.

  • Pension Benefits Each party reserves the right to retain as his or her sole and absolute separate property, the entire interest in pension benefits now vested, or that become vested in the future, and the right to manage, control, transfer, and convey all such property and dispose of the same by will, beneficiary designation or otherwise, without any interference from the other. The parties acknowledge that this Agreement shall constitute an effective waiver of any rights in the other's pension benefit plans. Furthermore, each party agrees to execute whatever additional waiver document may be necessary or useful to confirm such waiver of rights to the other party's pension benefit plans.

  • Benefits Plans During the Employment Period, You will be eligible to participate in all benefit plans in effect for executives and employees of the Company, subject to the terms and conditions of such plans.

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