LTD Plan. The Company will provide at no cost to Employees a long term disability plan which will take effect when an Employee has exhausted his coverage under the weekly indemnity insurance plan. A copy of the master policy will be made available to the Union. Benefits are paid from the point at which weekly indemnity benefits cease, should the same non- occupational accident or illness continue. Monthly benefit level will be 60% of the regular hourly rate at the date when indemnity payments commenced, calculated as follows: • hourly rate x 2080 divided by 12 to a maximum of $2,500) Employees eligible for disability payments from government programs, which may reduce the level of L.T.D. coverage, must apply for these benefits.
Appears in 1 contract
Samples: Labour Agreement
LTD Plan. The Company will provide at no cost to Employees a long term disability plan which will take effect when an Employee has exhausted his coverage under the weekly indemnity insurance plan. A copy of the master policy will be made available to the Union. Benefits are paid from the point at which weekly indemnity benefits cease, should the same non- non-occupational accident or illness continue. Monthly benefit level will be 60% of the regular hourly rate at the date when indemnity payments commenced, calculated as follows: • hourly rate x 2080 divided by 12 to a maximum of $2,5002,550 (year 2 - $2,600, year 3 - $2,650) Employees eligible for disability payments from government programs, which may reduce the level of L.T.D. coverage, must apply for these benefits.
Appears in 1 contract
Samples: Labour Agreement
LTD Plan. The Company will provide at no cost to Employees a long term disability plan which will take effect when an Employee has exhausted his coverage under the weekly indemnity insurance plan. A copy of the master policy will be made available to the Union. Benefits are paid from the point at which weekly indemnity benefits cease, should the same non- non-occupational accident or illness continue. Monthly benefit level will be 60% of the regular hourly rate at the date when indemnity payments commenced, calculated as follows: • hourly rate x 2080 divided by 12 to a maximum of $2,500) 2,500 Employees eligible for disability payments from government programs, which may reduce the level of L.T.D. coverage, must apply for these benefits.
Appears in 1 contract
Samples: Labour Agreement
LTD Plan. The Company will provide at no cost to Employees a long term disability plan which will take effect when an Employee has exhausted his coverage under the weekly indemnity insurance plan. A copy of the master policy will be made available to the Union. Benefits are paid from the point at which weekly indemnity benefits cease, should the same non- non-occupational accident or illness continue. Monthly benefit level will be 60% of the regular hourly rate at the date when indemnity payments commenced, calculated as follows: • hourly rate x 2080 divided by 12 to a maximum of $2,5002,550.00 (yr 2 - $2,600.00, yr3 - $2,650.00) Employees eligible for disability payments from government programs, which may reduce the level of L.T.D. coverage, must apply for these benefits.
Appears in 1 contract
Samples: Labour Agreement
LTD Plan. The Company will provide at no cost to Employees a long term disability plan which will take effect when an Employee has exhausted his coverage under the weekly indemnity insurance plan. A copy of the master policy will be made available to the Union. Benefits are paid from the point at which weekly indemnity benefits cease, should the same non- non-occupational accident or illness continue. Monthly benefit level will be 60% of the regular hourly rate at the date when indemnity payments commenced, calculated as follows: • hourly rate x 2080 divided by 12 to a maximum of $2,500) 2,650 Employees eligible for disability payments from government programs, which may reduce the level of L.T.D. coverage, must apply for these benefits.
Appears in 1 contract
Samples: Labour Agreement
LTD Plan. The Company will provide at no cost to Employees a long term disability plan which will take effect when an Employee has exhausted his coverage under the weekly indemnity insurance plan. A copy of the master policy will be made available to the Union. Benefits are paid from the point at which weekly indemnity benefits cease, should the same non- non-occupational accident or illness continue. Monthly benefit level will be 60% of the regular hourly rate at the date when indemnity payments commenced, calculated as follows: • hourly rate x 2080 divided by 12 to a maximum of $2,500) 2,400 Employees eligible for disability payments from government programs, which may reduce the level of L.T.D. coverage, must apply for these benefits.
Appears in 1 contract
Samples: Labour Agreement