Maternity Parental Adoption Supplemental Employment Benefit
Maternity Parental Adoption Supplemental Employment Benefit Sample Clauses
Related to Maternity Parental Adoption Supplemental Employment Benefit
Supplemental Retirement Benefit The Executive will be entitled to receive a monthly Supplemental Retirement Benefit (the "Supplemental Retirement Benefit") commencing on the first day of the month coincident with or following the later of the Executive's termination of employment or attainment of age 60 and continuing for the remainder of his life. Unless otherwise elected by the Executive, the Supplemental Retirement Benefit shall be payable in the form of a 50% joint and survivor annuity which shall be unreduced for the actuarial value of the survivor's benefit. If the Executive's spouse at the time of his death is not more than four years younger than the Executive, the survivor benefit shall be equal to 50% of the Executive's benefit and shall be payable to his spouse for the remainder of the spouse's life. If the Executive's spouse at the time of his death is more than four years younger than the Executive, the benefit payable to the spouse shall be reduced to a benefit having the same actuarial value as the benefit that would have been payable had the spouse been four years younger than the Executive. The Executive shall also have the right to elect a 100% joint and survivor annuity, on an actuarially-reduced basis or a lump-sum payment, on an actuarially-reduced basis (if the Executive makes a timely lump-sum election which avoids constructive receipt), or any other form of payment available or provided under the "Supplemental Plans" defined in this Section 8. Actuarial reductions shall be based on the actual ages of the Executive and his spouse at the time of retirement. If the Executive is not married at the time of his retirement, actuarial adjustments shall be made as if the Executive had a spouse with the same date of birth as the Executive. In the event that the Executive elects a form of payment other than the automatic 50% joint and survivor annuity or other than a lump sum payment, and remarries subsequent to retirement, the benefits payable under this Section shall be actuarially adjusted at the time of the Executive's death to reflect the age of the subsequent spouse. If the Executive elects a lump sum payment at retirement, no further benefits will be payable under this Section.
Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.
Supplemental Executive Retirement Plan The Executive shall participate in the Company's Unfunded Pension Plan for Selected Executives (the "SERP").
REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:
Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.
SUPPLEMENTAL BENEFITS The employer shall maintain a “Supplemental Unemployment Benefits Plan” pursuant to the Employment Insurance Act and Regulations in regard to maternity, parental and adoption leave. The employer shall make amendments as appropriate to ensure that the Plan provides the maximum permissible benefits in conjunction with Articles 17.06, 17.07 or 17.08.
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.
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.
Special Parental Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.05(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long-term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or via the Government Employees Compensation Act prevents the employee from receiving Employment Insurance or Québec Parental Insurance Plan benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.05(a), other than those specified in sections (A) and (B) of subparagraph 17.05(a)(iii), shall be paid, in respect of each week of benefits under the parental allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of the employee's rate of pay and the gross amount of his or her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.05 for a combined period of no more than the number of weeks during which the employee would have been eligible for parental, paternity or adoption benefits under the Employment Insurance or Québec Parental Insurance Plan, had the employee not been disqualified from Employment Insurance or Québec Parental Insurance Plan benefits for the reasons described in subparagraph (a)(i).
Parental/Adoption Leave a) A full-time or regular-part time nurse who commenced employment with the Employer at least thirteen (13) weeks before the expected date of delivery or date of custody of a child and is a parent, shall be entitled to thirty seven (37) weeks of parental or adoption leave of absence without pay, in accordance with the provisions of the Employment Standards Act of Ontario, except as amended in this Article. b) The nurse shall advise the Employer in writing seven (7) weeks in advance, but not later than two (2) weeks in advance, of the date the parental/adoption leave is to commence and end. Such leave must commence no later than thirty-five (35) weeks after the child was born or came into the custody, care or control of the parent. c) The nurse shall re-confirm her intention to return to work or may request changes to dates originally approved in subsection b) above by written notification to be received by the Employer at least seven (7) weeks in advance thereof. The nurse shall be reinstated to her former position unless the position has been discontinued in which case she shall be placed in a comparable position. d) A full-time nurse’s seniority, vacation and sick leave shall continue to accrue during parental and adoption leave. However, the nurse will not be paid for named holidays occurring during such leaves of absence. A regular part-time nurse who is on an approved parental/adoption leave shall accrue seniority while on such leave, calculated on the basis of averaging her hours over the twenty (20) week period immediately preceding the week in which her leave commences. e) During the nurse's parental or adoption leave, the nurse shall continue to participate in the pension plan and insured benefit plans (applicable to full-time nurses only) she is enrolled in immediately prior to commencing her leave, unless she gives the Employer seven (7) weeks advance written notice before her leave is to commence that she does not intend to do so. The nurse shall be required to prepay her share of any premiums and pension contributions. f) A nurse returning from parental/adoption leave shall be paid at the same step in salary scale that she had attained prior to going on such leave of absence. Should an anniversary increment fall during such leave of absence, the nurse shall receive her anniversary increment upon her return to employment. g) Nurses hired to replace nurses who are on approved parental/adoption leave, may be released and such release shall not be the subject of a grievance or arbitration. If retained by the Employer, the nurse shall be credited with seniority from her date of hire subject to successfully completing her probationary period.
