Common use of Long Term Salary Continuance Benefits Clause in Contracts

Long Term Salary Continuance Benefits. A-3.01 All eligible employees shall be entitled to long term salary continuance benefits. Said benefits shall commence after a one hundred and twenty (120) day waiting period and shall be payable if necessary to age sixty-five (65). Employees shall receive sixty-six and two-thirds (66 2/3%) percent of their weekly salary to a maximum of fifteen hundred ($1,500) dollars per month. Said benefits shall at all times be calculated using the regular rate of pay that would have been paid to the employee had they continued to work. The fifty (50%) percent of the health and welfare benefit premiums paid by the employee referred to in A-1.02 shall be deemed to cover one hundred (100%) percent of the long term salary continuance premiums.

Long Term Salary Continuance Benefits. A-3.01 All eligible employees shall be entitled to long term salary continuance benefits. Said benefits shall commence after a one hundred and twenty (120) day waiting period and shall be payable if necessary to age sixty-five (65). Employees shall receive sixty-six and two-thirds (66 2/3%) percent of their weekly salary to a maximum of fifteen hundred ($1,500) dollars per month. Said benefits shall at all times be calculated using the regular rate of pay that would have been paid to the employee had they he or she continued to work. The fifty (50%) percent of the health and welfare benefit premiums paid by the employee referred to in A-1.02 shall be deemed to cover one hundred (100%) percent % of the long term salary continuance premiums.