Order of Benefit Payments Sample Clauses

Order of Benefit Payments. If the Employer sponsors a Section 125 Flexible Spending Arrangement, in addition to this Plan: Eligible Medical and other Health Care Expenses must be paid under the Section 125 Plan after this Plan, until all funds in that plan are exhausted.
Sample 1
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Order of Benefit Payments. If a Participant has a Separate Account and/or an Earmarked Account with respect to a Plan or a particular benefit under any such Plan, any distribution made hereunder to such Participant with respect to such Plan or benefit made (i) prior to a Change of Control, shall be charged against such Separate Account or Earmarked Account to the extent sufficient to pay such benefits (or, in the case of a Participant who has a Separate Account and an Earmarked Account with respect to the same benefit or Plan, as the case may be, first against the Earmarked Account until its assets have been exhausted) and thereafter against any General Account established with respect to such Plan or benefit (regardless of whether the Separate Account or Earmarked Account is established under Subtrust A) or (ii) after a Change of Control, shall be charged against amounts credited to such Separate Account in the same proportion as the value of the assets of such account as of the close of the prior calendar year bears to the actuarial present value (as determined by the Company) of the Participant's benefit under such Plan (or such benefit under such Plan) as of the close of such prior calendar year (or, in the case of a Participant who has a Separate Account and an Earmarked Account with respect to the same benefit or Plan, as the case may be, the portion of each such payment not charged against a General Account shall first be charged against the Separate Account until its assets are exhausted), with the remainder to be charged against any General Account established with respect to such Plan or benefit (regardless of whether the Separate Account or Earmarked Account is established under Subtrust A). If at any time any Participant's Separate Account and Earmarked Account established with respect to any Plan or benefit and any General Account established with respect to such Plan or benefit have been exhausted, no additional amounts shall be payable from the Trust with respect to such Plan or benefit unless the Participant with respect to whom the benefit is payable shall elect in writing to permit the assets of a Separate Account or Earmarked Account established on behalf of such Participant with respect to another Plan or benefit (whether under Subtrust A or Subtrust B) to be used to pay such other benefit. Notwithstanding the foregoing, nothing in this Section 3.6 shall be construed to limit the Company's right, prior to a Change of Control, to transfer assets as provided under ...
Sample 1
Order of Benefit Payments. Does the Employer sponsor a Section 125 Health Care Flexible Spending Arrangement (Health FSA), in addition to this Plan? ❑ Yes (complete a) below) ❑ No (skip to 14) a) Which plan will pay first? (select only one): ❑ Eligible Medical or Dental Expenses must be paid under the Health FSA before this Plan. ❑ Eligible Medical or Dental Expenses must be paid under the Health FSA after this Plan.
Sample 1

Related to Order of Benefit Payments

  • Calculation of Benefits Immediately following delivery of any Notice of Termination, the Company shall notify the Executive of the aggregate present value of all termination benefits to which he would be entitled under this Agreement and any other plan, program or arrangement as of the projected Date of Termination, together with the projected maximum payments, determined as of such projected Date of Termination that could be paid without the Executive being subject to the Excise Tax.

  • Payment of Benefits All or part of the contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate for variable and fixed payment plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.3.

  • Distribution of Benefits Members of this unit with at least one year of the service to the District may apply for a number of days consistent with a one-for-one match of their individual sick leave accumulation as of the end of the previous contract year brought forward to the year of the onset of disability. The combined benefit of accumulated personal sick leave and disability bank leave may not exceed one hundred-eighty days and may carry over from one contract year to another. Employees with less than one full year of service in the District will not be require to contribute one of their individual accumulated sick leave days to the disability bank. The Board reviews the right to request re-application and documentation from anyone requesting more than forty (40) days from the pool. Any benefits will be minus other insurance coverage (i.e. worker’s compensation, social security, etc.).

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • Order of Benefit Determination Rules When a Member is covered by two or more plans, the rules for determining the order of benefit payments are as follows:

  • Duration of Benefits Eligibility for Income Protection benefits will cease upon the earliest of the following dates: 1.09.01 the date the member is no longer disabled from performing the duties of their regular position, or any alternative employment made available to the member by the City. 1.09.02 the date the member's Income Protection benefits have been expended. 1.09.03 the date the member dies.

  • Distribution of Benefit The Bank shall distribute the annual benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Executive for fifteen (15) years.

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • Retention of Benefits Union leave under the following four (4) sections will be unpaid. The Employer will maintain regular pay and xxxx the Union for the costs of the employee’s salary and benefits. If the Union member is part-time or casual, and the leave is greater than their normal work hours, the Employer will pay the employee for the full length of the leave requested by the Union. The Employer will xxxx the Union for these days as noted above. The Union will pay these invoices within twenty-eight (28) days. Union leave is not unpaid leave for the purposes of Article 22.02 [i.e. such leave will not affect the employee’s benefits, seniority or increment anniversary date].

  • Benefit Payments Benefit Payments, as referred to in this Agreement, means the sum of (i) Claims, as described in Xxxxxxxxx 0 xxxxx, (xx) Cash Surrender Values, as described in Paragraph 3 below, and (iii) Annuity Payments, as described in Paragraph 7 below.

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