Lump Sum Death Benefit Sample Clauses

Lump Sum Death Benefit. In the event of a bargaining unit employee's death the designated beneficiary, beneficiaries or estate, must receive a lump-sum payment for accrued sick leave at the current pay rate, as follows: A. If the death is the result of a non-service connected accident or illness—50 percent of the total value. B. If the death is the result of a service-connected accident or illness—100 percent of the total value. The designated beneficiary must be specified by the employee or as designated under the Employee’s Retirement System of Xxxxxxxxxx County, if not named specifically.
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Lump Sum Death Benefit. In the event of an employee's death, the designated beneficiary, beneficiaries or estate, if permissible by law, must receive a lump sum payment for accrued sick leave at the current pay rate, as follows: (a) if the death is the result of a non-service connected accident or illness - 50 percent of the total value; and (b) if the death is the result of a service-connected accident or illness - 100 percent of the total value. The designated beneficiary must be specified by the employee or as designated under the Employees' Retirement System of Montgomery County if not named specifically.
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Lump Sum Death Benefit. If Employee dies before all of Employee's Transitional Compensation payments have been made, the Company will pay a lump sum death benefit equal to the discounted present value (based on the prime rate reported in The Wall Street Journal) of unpaid Transitional Compensation to Employee's designated beneficiary within 30 days from Employee's date of death.
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Lump Sum Death Benefit. In the event that an Executive dies after a Severance Event and prior to receipt of the full amount of such Executive’s Severance Pay, then a lump sum death benefit shall be paid to the estate or beneficiary within ninety (90) days after the date of death of the Executive; provided, however, that payment may be deferred until the Executive’s executor or personal representative has been appointed and qualified pursuant to the laws in effect in the Executive’s jurisdiction of residence at the time of the Executive’s death. The lump sum death benefit shall be equal to the aggregate amount of the Severance Pay to which the Executive is entitled, but that has not been paid as of the date of death. Notwithstanding the foregoing, if, as of the date of death, the Executive has not executed the Release, or if executed, the time for revocation of the Release has not expired, then the payment of the lump sum death benefit shall be subject to the execution by such personal representative or beneficiary of a release substantially similar in scope to the Release.
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Lump Sum Death Benefit. In the event of a bargaining unit employee's death the designated beneficiary, beneficiaries or estate, must receive a lump-sum payment for accrued sick leave at the current pay rate, as follows:
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Lump Sum Death Benefit. In the event of an employee’s death, the designated beneficiary, 1. If the death is the result of a non-service-connected accident or illness -- 75 percent of the total value; and 2. If the death is the result of a service-connected accident or illness --100 percent of the total value. The designated beneficiary must be specified by the employee or as designated under the Employees’ Retirement System of Xxxxxxxxxx County, if not named specifically.
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Lump Sum Death Benefit a. In addition to all other benefits payable pursuant to this Article III, upon the death on or after November 1, 1994 of any Participant who had begun to receive retirement or disability benefits, a lump sum benefit of $2,000 shall be paid to the Beneficiary designated by the Participant. If there is no designated Beneficiary then the benefit shall be payable in the same manner and order of preference set forth in Section 3.15.c. Although the Participant is entitled to a $2,000 Lump Sum Death Benefit, if the Participant is eligible for a Lump Sum Death Benefit under this Plan and under the Chicago Regional Council of Carpenters Pension Fund, the Lump Sum Death Benefit payable from this Plan shall be only $1,500. b. If there is no Spouse, Children, parents or beneficiaries of the Chicago Regional Council of Carpenters Welfare Fund surviving, the Lump Sum Death Benefit may be paid to the individual who provides proof to the Trustees that he or she paid the funeral expense of the deceased Participant, or the Lump Sum Death Benefit may be paid directly to the funeral home in payment of the funeral expenses of the deceased Participant provide, that in these latter two instances the amount of the Lump Sum Death Benefit shall be limited to the amount of the funeral expenses. c. If no one seeks reimbursement for funeral expenses, and there is no surviving Spouse, Children, parents or beneficiaries of the Chicago Regional Council of Carpenters Welfare Fund surviving, there shall be no Lump Sum Death Benefit paid hereunder. Whenever an individual entitled to receive a Lump Sum Death Benefit files an application for such Lump Sum Death Benefit, payment shall be made as soon as practicable after receipt of the application by the Plan.
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Lump Sum Death Benefit. A one-time payment not to exceed $255 payable on the death of an insured worker. Lump-Sum Death Benefit— NP—Benefit payable if the deceased contributed for at least 3 years, was not entitled to a benefit, and had dependents who are not entitled to survivors benefits. EPI—
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Lump Sum Death Benefit. In addition to any other death ---------------------- benefits payable under this Section 4.5, upon receipt of proof satisfactory to the Committee of the death of a Pensioner who is receiving:
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Related to Lump Sum Death Benefit

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Pre-Retirement Death Benefit (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • PAYMENT OF DEATH BENEFIT The Company will require due proof of death before any death benefit is paid. Due proof of death will be:

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Death Benefits Upon the Executive’s death during the Contract Period, the Executive’s estate shall not be entitled to any further benefits under this Agreement.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Early Termination Benefit If Early Termination occurs, the Bank shall distribute to the Executive the benefit described in this Section 2.2 in lieu of any other benefit under this Article.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

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