Option Five (Enhanced Supplemental Unemployment Benefit Sample Clauses

Option Five (Enhanced Supplemental Unemployment Benefit. Employees may elect to receive the following enhanced SUB provided the employee has fully exercised seniority on the basic seniority territory. 8 years or more but less than 23 years CCS 3 years 23 years or more but less than 30 years CCS 4 years 30 years or more CCS 5 years BENEFIT LEVEL: Year 1 - 90 % of the Salary of the last permanent position held; Year 2 - 85 % of the Salary of the last permanent position held; Year 3 - 80% of the Salary of the last permanent position held; Year 4 - 80% of the Salary of the last permanent position held; Year 5 - 80% of the Salary of the last permanent position held. Employees electing Option 5 may elect, at the same time, to continue to be covered by the current benefits (Dental, Extended Health and Vision Care and/or Group Life Insurance) at their expense. The employee will be required to make direct payment to the benefit Carriers.
Sample 1Sample 2
AutoNDA by SimpleDocs
Option Five (Enhanced Supplemental Unemployment Benefit. Elect to receive the following enhanced SUB provided the employee has fully exercised seniority on the basic seniority territory.
Sample 1Sample 2
Option Five (Enhanced Supplemental Unemployment Benefit. Elect to receive the following enhanced SUB provided the employee has fully exercised seniority on the Region. 8 years or more but less than 16 years CCS 2 years at 80 % salary 16 years or more but less than 23 years CCS 3 years at 80 % salary 23 years or more but less than 30 years CCS 4 years at 80 % salary 30 years or more CCS 5 years at 80 % salary Employees electing option 5 may elect, at the same time, to continue to be covered by any or all of the current benefits (Dental, Extended Health and Vision Care and/or Group Life Insurance) at their expense. The employee will be required to make direct payment to the benefit Carriers.
Sample 1

Related to Option Five (Enhanced Supplemental Unemployment Benefit

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

  • 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.

  • Supplemental Benefits The employer shall maintain a “Supplemental Unemployment Benefits Plan” pursuant to the Employment Insurance Act and Regulations. The employer shall make amendments as appropriate to ensure that the Plan provides the maximum permissible benefits in conjunction with Article 17.03.

  • Basic Benefit Effective January 1, 2008, the basic life insurance benefit will be increased from $15,000 to $18,000 for employees. This shall be the default level of life insurance coverage, which shall be provided at no cost to the employee.

  • 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.

  • 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.

  • Xxxx Individual Retirement Custodial Account The following constitutes an agreement establishing a Xxxx XXX (under Section 408A of the Internal Revenue Code) between the depositor and the Custodian.

  • 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.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • Survivor Benefits 1. A surviving dependent of a retiree who was eligible to receive a Retiree Medical Grant, as stated above in A through C, and who qualifies for a monthly allowance shall be eligible for fifty (50) percent of the Grant authorized for the retiree.

Time is Money Join Law Insider Premium to draft better contracts faster.