LONG-TERM DISABILITY INSURANCE COVERAGE Sample Clauses

LONG-TERM DISABILITY INSURANCE COVERAGE. Subject to Executive's insurability on a standard risk basis, Company shall provide Executive with long-term insurance disability coverage for an amount equal to 66 2/3% of his Annual Base Salary, as it may be adjusted from year to year. For this purpose, "long-term disability" shall mean disability for purposes of receiving benefits under the Company's group long-term disability insurance plan for employees. The Company, in its sold discretion, can fulfill its obligation hereunder, in whole or in part, by means of Executive's participation in the Company's long-term disability insurance plan for employees. The Company shall purchase and maintain an individual, long-term disability policy to provide for such coverage amount that is not otherwise provided through the Company group disability plan. Other than the amount of benefit provided for thereunder, the provisions of such individual policy shall be substantially comparable to those contained in the Company's group disability plan. Upon termination of his employment other than by the Company for cause (as provided for in Section 5.1), Executive shall be entitled, with no obligation of reimbursement to the Company, to exercise any option, available to him under the individual insurance policies and/or contracts purchased and maintained by the Company, to assume ownership thereof and continue such policies and/or contracts in full force and effect.
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LONG-TERM DISABILITY INSURANCE COVERAGE. The City agrees to continue to provide Long-Term Disability Insurance coverage to the employees covered by this M.O.U. Effective the first day of the month following Council approval of this MOU, the monthly premiums will be paid by the City and will not be deducted from employees’ monthly flexible benefit allocation.
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LONG-TERM DISABILITY INSURANCE COVERAGE. 1. For each full-time employee, the Employer shall provide without cost to the Employee a long-term disability insurance plan with benefits of sixty percent (60%) Max $5,000 of monthly earnings to the Employee who is totally disabled due to extended illness or injury. The policy may provide a "write off" or "offset" which permits the carrier to reduce the benefit by the amount collected from social security, and state plan benefits or any other plan. The benefits of this plan shall commence after one hundred eighty (180) calendar days of such illness or injury and shall be payable until the Employee reaches age sixty-five (65), or the Employee is declared able to work, or death, whichever shall occur first. For the purposes of the long- term disability coverage, monthly earnings shall be the Employee’s regular salary divided by twelve (12) months This benefit shall begin when the employee: a. Has properly completed the necessary forms and filed said forms with proper authorities, and b. Actually begins employment. 2. Such benefits shall terminate when the Employee terminates his/her employment.
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LONG-TERM DISABILITY INSURANCE COVERAGE. During the term of this Agreement, the Employer shall obtain and pay the required premiums for a long term disability program for those full-time employees occupying a classification covered by this Agreement who participate in the Defined Contribution Plan. Employees who become totally disabled and prevented from working for remuneration or profit and who are otherwise eligible shall receive from the Employer’s insurance carrier weekly indemnity payments consisting of sixty-six and two-thirds percent (66 2/3%) of their normal gross weekly wages per month. These benefits shall be payable from the 90th day of disability through age sixty-five (65). The benefit payable under this program is coordinated with compensation paid under the Social Security Act. The specific terms and conditions governing the long term disability program is set forth in detail in the policy governing the program as issued by the carrier.
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LONG-TERM DISABILITY INSURANCE COVERAGE. The City shall provide each regular, full-time employee with LTD insurance coverage with a benefit of fifty percent (50%) of the employee’s regular wages up to maximum benefit of two thousand dollars ($4,000) per month. The City shall pay the entire premium for such coverage.
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LONG-TERM DISABILITY INSURANCE COVERAGE. During the term of this Agreement, the Employer shall obtain and pay the required premiums for a long term disability program for those full time employees occupying a classification covered by this Agreement who participate in the Defined Contribution Plan. Employees who become totally disabled and prevented from working for remuneration or profit and who are otherwise eligible shall receive from the Employer’s insurance carrier weekly indemnity payments consisting of sixty-six and 2/3 percent (66 2/3%) of their normal gross weekly wages. These benefits shall be payable from the 90th day of disability through age sixty- five (65). The benefit payable under this program is coordinated with compensation paid under the Social Security Act. The specific terms and conditions governing the long-term disability program are set forth in detail in the policy governing the program as issued by the carrier.
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LONG-TERM DISABILITY INSURANCE COVERAGE. (including medical disability resulting from pregnancy under Article XV, Section A.1.
Sample 1
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LONG-TERM DISABILITY INSURANCE COVERAGE. During the term of this Agreement, the Employer shall obtain a group long term disability program for full time employees. Employees who become disabled and who are otherwise eligible shall receive from the insurance carrier weekly indemnity payments consisting of sixty percent (60%) of their normal gross weekly wages. These benefits shall be payable from the 180th day of disability through age sixty-five (65). The benefits payable under this program are coordinated with compensation paid under other similar programs such as the Social Security Act, worker’s compensation, and the County’s retirement Plan. The specific terms and conditions governing the long term disability program are set forth in detail in the policy governing the program as issued by the carrier, currently UNUM. The County pays the premium for the employee and includes the cost of that insurance in the employee’s W-2 compensation each year.
Sample 1

Related to LONG-TERM DISABILITY INSURANCE COVERAGE

  • Long Term Disability Insurance 250. The City, at its own cost, shall provide to employees a Long Term Disability (LTD) benefit that provides, after a one hundred and eighty (180) day elimination period, sixty percent salary (60%) (subject to integration) up to age sixty-five (65). Employees who are receiving or who are eligible to receive LTD shall be eligible to participate in the City's Catastrophic Illness Program as set forth in the ordinance governing such program.

  • Long Term Disability Insurance Plan The Employer shall provide a mutually acceptable long-term disability insurance plan, a copy of which shall appear in Appendix “A” – Long-Term Disability Insurance Plan. The plan shall provide post-probationary regular employees with salary continuation as per Appendix “A” until age sixty-five (65) in the event of a disability. The cost of the plan shall be borne by the Employer.

  • Short Term Disability Insurance The Employer will provide access to a short term disability supplemental insurance plan to employees through payroll deduction. Such plan will be 100% paid for by the employee through payroll deduction using post- taxed dollars. Prior to the implementation, the Employer will review the plan with the Union. If an employee purchases the short-term disability insurance plan and incurs hours of leave that would qualify for both short-term disability and Extended Illness Bank paid leave, the employee may elect to use either short-term disability leave or Extended Illness Bank hours.

  • Disability Insurance The Superintendent shall purchase long-term disability insurance from the school district’s carrier at his own expense. The Board will increase his salary by the amount of the premium cost.

  • Long-term Disability Coverage New employees may enroll in long-term disability insurance by their initial effective date of coverage. Employees who become eligible for insurance may enroll in long-term disability insurance within thirty (30) days of their initial effective date as defined in this Article, Section 5C. An employee who is insurance eligible and moves from a temporary position to a permanent position will be allowed to enroll in long-term disability coverage within thirty (30) days of the event without providing evidence of insurability. The terms are the same as for employees who wish to add/increase during the annual open enrollment. During open enrollment only, an employee may purchase long-term disability coverage that provides benefits of from three hundred dollars ($300) to seven thousand dollars ($7,000) per month, based on the employee's salary, commencing on the 181st calendar day of total disability, and not subject to evidence of insurability but with a limited term pre-existing condition exclusion. Employees should be aware that other wage replacement benefits, as described in the certificate of coverage (i.e., Social Security Disability, Minnesota State Retirement Disability, etc.), may result in a reduction of the monthly benefit levels purchased. In any event, the minimum is the greater of three hundred dollars ($300) or fifteen (15) percent of the amount purchased. The minimum benefit will not be reduced by any other wage replacement benefit. In the event that the employee becomes totally disabled before age seventy (70), the premiums on this benefit shall be waived.

  • State Disability Insurance a. The County shall maintain State Disability Insurance (SDI), at the employee cost, for employees in classes covered by the Agreement. This section shall not be valid if the membership elects to withdraw from SDI during the term of this Agreement and the State has approved withdrawal from SDI. b. Employees who are absent from duty because of illness or injury and have been authorized to use County-paid leave benefits, sick leave, vacation, compensating time off, holidays and holiday-in-lieu time, shall be eligible to integrate the payment of State Disability Insurance benefits with such County-paid leave benefits. No integration of County-paid leave benefits and State Disability Insurance shall occur unless the appointing authority has approved the use of the County-paid leave benefits by the employee requesting integration. c. Integration of County-paid leave benefits with State Disability Insurance will require detailed procedures which the County shall, in its sole discretion, implement to ensure the equitable application of the program consistent with this Agreement provision. In accordance with current County policy, integration of County-paid leave balances and State Disability Insurance shall not be paid in a retroactive manner. d. Integration of County-paid leave balances and State Disability Insurance shall take place subject to the following conditions: (1) The intent of this program and contract provision is to insure that those employees who participate in the program comply with all applicable laws, policies, and procedures established to provide integration of County-paid leave balances and State Disability Insurance so as to provide a combined biweekly adjusted net income equivalent to 100% of regular net income - gross income less required deductions, such as taxes, retirement, State Disability Insurance premiums, and other mandatory deductions - as long as such eligible disability qualifies and available leave balances are authorized by the appointing authority. Other employee authorized deductions shall be deducted from the resultant net pay. (2) Upon approval of the use of County-paid leave benefits by the appointing authority and the employee's established eligibility for State Disability Insurance, the County shall make leave accrual payments to the employee in the usual manner except that the net pay, including State Disability Insurance benefits and net County pay, shall not exceed 100% of the regular net pay. If State Disability Insurance benefits equal or exceed 100% of the regular net pay, no County payment shall be made. County-paid leave benefits shall be used in the following order: sick leave, vacation, compensating time off, and holiday-in-lieu time. (3) Special pay allowances not of a permanent nature, such as overtime compensation, standby, night shift differential, call back or out-of- class pay, shall not be counted in determining the employee's gross or net pay. (4) Sick leave, vacation, and holiday-in-lieu shall not accrue during any pay period in which the employee receives County-paid leave benefits integrated with State Disability Insurance payments, except that the employee shall accrue sick leave, vacation, and holiday-in- lieu for any actual hours worked during a pay period in which integration occurs. Service credits toward seniority and step increase eligibility shall not be affected by any pay period during which an employee is on the integrated leave and State Disability Insurance program. (5) When an employee exhausts all available County-paid leave balances, the employee shall either return to work or request an unpaid leave of absence from his/her appointing authority. Regardless of whether the employee continues to receive State Disability Insurance payments, once all County-paid leave balances are exhausted, County compensation shall cease unless the employee returns to work. (6) The County shall continue its contributions towards the employee's health, dental, life and retirement contributions in accordance with established laws and practices during the pay periods which include County payment for integrated leave balances. The employee shall be responsible for payment of premiums required to maintain insurance coverage when County contributions cease. (7) Eligible part-time employees shall be included in this program on a prorated basis. e. In the event the County determines that legislative or judicial determinations cause changes which in any way restrict, reduce or prohibit this program operation, it shall immediately and automatically terminate without any further action by either party to this Agreement.

  • Life and Disability Insurance The Company will provide term life and disability insurance payable to the Employee, in each case in an amount up to a maximum of one times the Employee’s base salary in effect from time to time, provided however, that such amount will be reduced by the amount of any life insurance or death or disability benefit coverage, as applicable, that is provided to the Employee under any other benefit plans or arrangements of the Company. Such policies will be in accordance with the Company’s standard policies from time to time with respect to such insurance and the rules established for individual participation in such plans and under applicable law.

  • Life Insurance Coverage a. Forty Thousand ($40,000) Dollars life insurance policy with AD&D from an insurance carrier selected by the Board, subject to the provisions of this section. b. Employees who have Board-provided term life insurance shall have a thirty- one (31) day conversion right upon termination of employment. Any employee electing the right to conversion in order to keep term life insurance in force, must contact the insurance carrier within thirty-one (31) days of the last day of employment. c. The life insurance policy shall pay to the employee’s beneficiary the aforementioned sum within the underwriting rules and regulations as set forth by the insurance carrier.

  • STATE DISABILITY INSURANCE (SDI) The Agency agrees to integrate SDI benefits with sick leave. The employee shall pay required premium costs which will be deducted from their paycheck and transmitted to the state by the Agency.

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

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