HEALTH BENEFITS & RETIREMENT SAVINGS Sample Clauses

HEALTH BENEFITS & RETIREMENT SAVINGS. 11.01 In order to protect the employees and their families from the financial hardships of involuntary termination of employment and to aid these employees and their legal dependents in obtaining proper health care, the Employer shall contribute to the premium cost of health insurance benefits and ensure coverage for those entitled for all employees who have completed nine (9) months of employment with the Employer, unless they have not completed their probationary period. a. The Employer shall select the insurance provider, and may change insurance providers at its discretion, provided the benefit coverage is equal to or exceeds that which is summarized in the collective agreement. The Plan benefits include: i. $35,000.00 Term Life Insurance for employee; ii. Life Insurance for dependents: $5,000.00 for spouse, $2,500 for child;
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HEALTH BENEFITS & RETIREMENT SAVINGS. 11.01 In order to protect the employees and their families from the financial hardships of involuntary termination of employment and to aid these employees and their legal dependents in obtaining proper health care, the Employer shall contribute to the premium cost of health insurance benefits and ensure coverage for those entitled for all employees who have completed nine (9) months of employment with the Employer, unless they have not completed their probationary period. a. The Employer agrees to participate in and to be bound by the provisions, terms and conditions of the Group Insurance Plan G12410 (the Plan) made available through the Christian Labour Association of Canada Health and Welfare Trust Fund (the Fund). The Employer may select an alternative insurance plan carrier provided the benefit coverage is equal to or exceeds that which is provided by CLAC Plan G12410, or as outlined in the collective agreement. The Plan benefits include: i. $35,000.00 Term Life Insurance for employee; ii. Life Insurance for dependents: $5,000.00 for spouse, $2,500 for child; iii. $35,000.00 Accidental Death and Dismemberment (AD&D) Insurance rider for employee; iv. 100% drug reimbursement with a maximum $3 employee co-pay per prescription; v. Vision Plan at $150.00 every 24 months, whether single or family coverage, with increase in year two of the collective agreement to $300 every 24 months for covered employee only. The additional $150 will be reimbursed by the Employer subject to the submission of a copy of the sales receipt; vi. Semi-private hospital coverage; vii. Dental Basic and Minor (100% to $1,500 annual max and 50% Major to $1,500 annual max) b. The Employer shall enrol all eligible employees in the Plan on forms supplied by the Administrator of the Fund (the Administrator). c. The Employer shall pay one hundred percent (100%) of the monthly insurance premium for individual and/or family coverage for each eligible employee and remit same to the Administrator, on forms supplied, by the fifteenth (15th) of the month previous to the month for which insurance coverage is to be provided. 11.03 The Employer will continue to pay for all the insurances outlined in Article 11.01 for all employees who have been in the employ of the Employer for one (1) year or more and are prevented from working for any reason other than justified dismissal for a period of three (3) months. In case of sickness, a doctor's certificate is required. 11.04 Employees who have been in t...

Related to HEALTH BENEFITS & RETIREMENT SAVINGS

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • 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.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • Supplemental Executive Retirement Plan The Executive shall participate in the Company's Unfunded Pension Plan for Selected Executives (the "SERP").

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.

  • Deferred Retirement a. An employee who is eligible for paid retirement at the time he or she separates from County service, but elects deferred retirement, may defer participation in the Grant until such time as he or she becomes an active retiree. b. An otherwise eligible employee who is not eligible for paid retirement at the time he or she separates from County service but is eligible for and elects deferred retirement shall not become eligible for participation in the Grant.

  • Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.

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