Common use of Long Term Disability (LTD) Insurance Clause in Contracts

Long Term Disability (LTD) Insurance. 20.2.1 For all persons covered by this agreement, the district agrees to pay one hundred percent (100%) of the cost of an income protection insurance policy which shall provide sixty-six and two-thirds percent (66-2/3%) of gross earnings, after a ninety (90) calendar day waiting period, less any amounts payable under Worker’s Compensation Insurance and full disability benefits received from Social Security and Retirement Benefits limited by the express terms of an insurance policy in force in the school district. At the discretion of the Administrator, he/she may delay the start of the long term disability benefit to utilize all accumulated leave days in his/her leave bank. The intent of the plan is to assure the employee a source of income from various sources equal to the 66 2/3% benefit. The LTD benefit shall continue until the administrator's return to work, death, or in the event the disabled administrator is 69 or older following the end of the qualifying period, the maximum benefit duration shall be one year. Eligibility for benefits after age 66 may be reduced in accordance with federal rules governing LTD insurance. 20.2.2 It is expressly understood by the Association and by the District that this LTD program is subject to the rules and policies of the underwriter. 20.2.3 The underwriter of this LTD program shall not be a party to this agreement and coverages are hereby limited to the availability of such coverages and rates as provided by the underwriter of this LTD program. 20.2.4 The District shall select the underwriter for LTD. 20.2.5 An employee shall return to work when he is certified by an appointed team of qualified physicians.

Long Term Disability (LTD) Insurance. 20.2.1 19.2.1 For all persons covered by this agreement, the district agrees to pay one hundred percent (100%) of the cost of an income protection insurance policy which shall provide sixty-six and two-thirds percent (66-2/3%) of gross earnings, after a ninety (90) calendar day waiting period, less any amounts payable under Worker’s Compensation Insurance and full disability benefits received from Social Security and Retirement Benefits limited by the express terms of an insurance policy in force in the school district. At the discretion of the Administrator, he/she may delay the start of the long term disability benefit to utilize all accumulated leave days in his/her leave bank. The intent of the plan is to assure the employee a source of income from various sources equal to the 66 2/3% benefit. The LTD benefit shall continue until the administrator's return to work, death, or in the event the disabled administrator is 69 or older following the end of the qualifying period, the maximum benefit duration shall be one year. Eligibility for benefits after age a g e 66 may be reduced in accordance with federal rules governing LTD insurance. 20.2.2 19.2.2 It is expressly understood by the Association and by the District that this LTD program is subject to the rules and policies of the underwriter. 20.2.3 19.2.3 The underwriter of this LTD program shall not be a party to this agreement and coverages coverage are hereby limited to the availability of such coverages coverage and rates as provided by the underwriter of this LTD program. 20.2.4 19.2.4 The District shall select the underwriter for LTD. 20.2.5 19.2.5 An employee shall return to work when he is certified by an appointed team of qualified physicians.

Long Term Disability (LTD) Insurance. 20.2.1 19.2.1 For all persons covered by this agreement, the district agrees to pay one hundred percent (100%) of the cost of an income protection insurance policy which shall provide sixty-six and two-thirds percent (66-2/3%) of gross earnings, after a ninety (90) calendar day waiting period, less any amounts payable under Worker’s Compensation Insurance and full disability benefits received from Social Security and Retirement Benefits limited by the express terms of an insurance policy in force in the school district. At the discretion of the Administrator, he/she may delay the start of the long term disability benefit to utilize all accumulated leave days in his/her leave bank. The intent of the plan is to assure the employee a source of income from various sources equal to the 66 2/3% benefit. The LTD benefit shall continue until the administrator's return to work, death, or in the event the disabled administrator is 69 or older following the end of the qualifying period, the maximum benefit duration shall be one year. Eligibility for benefits after age 66 may be reduced in accordance with federal rules governing LTD insurance. 20.2.2 19.2.2 It is expressly understood by the Association and by the District that this LTD program is subject to the rules and policies of the underwriter. 20.2.3 19.2.3 The underwriter of this LTD program shall not be a party to this agreement and coverages are coverage is hereby limited to the availability of such coverages coverage and rates as provided by the underwriter of this LTD program. 20.2.4 19.2.4 The District shall select the underwriter for LTD. 20.2.5 19.2.5 An employee shall return to work when he is certified by an appointed team of qualified physicians.