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.

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.

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.