Long Term Disability Benefit In the event an employee, while covered under this plan, becomes totally disabled as a result of an accident or a sickness, then, after the employee has been totally disabled for seven (7) months, including periods approved in Section 1.3(a) and (c), he/she shall be eligible to receive a monthly benefit as follows: (a) The employee shall receive a monthly benefit equal to the sum of: (1) sixty-eight and three-tenths percent (68.3%) of the first nineteen hundred dollars ($1900) of monthly earnings; and (2) fifty percent (50%) of the monthly earnings above nineteen hundred dollars ($1900). For the purposes of the above, earnings shall mean basic monthly earnings as at the date of disability as determined by the Employer. The basic monthly earnings as at the date of disability shall be the salary in effect for the last month of the Short Term Plan period, or equivalent seven (7) month period, taking into consideration any retroactive adjustments. The date of disability for determining the commencement of the first two (2) years of disability shall be the day following the last month of the Short Term Plan period, or an equivalent seven (7) month period. (b) The Long Term Disability benefit payment will be made so long as an employee remains totally disabled in accordance with Section 2.3, and will cease on the date the employee recovers, or at the end of the month in which the employee reaches age sixty-five (65), or resigns or dies, whichever occurs first. (c) An employee in receipt of long term disability benefits will be considered an employee for purposes of pension plan and will continue to be covered by group life, extended health, dental and medical plans. Employees will not be covered by any other portion of this Collective Agreement, but will retain seniority rights should they return to employment within six (6) months following cessation of benefits. (d) When an employee is in receipt of the benefit described in Section (a) above, contributions required for benefit plans in Section (c) above will be waived by the Employer. (e) An employee engaged in rehabilitative employment with the Employer and who is receiving partial Long Term Disability benefit payments will have contributions required for benefit plans in Section (c) above waived by the Employer.
REFUND OF UNEARNED COMPENSATION The Party of the Second Part agrees to refund the Party of the First Part any compensation received for which no services were rendered. TERMINATION: This contract may be terminated by either party pursuant to law. OTHER CONDITIONS: Any subsequent contracts shall supersede the provisions of this contract. PARTIES: The Fort Xxxxx School District 100, Party of the First Part, and XXXXXX XXXXXXXX XXXXXX Party of the Second Part, agree as follows:
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.
Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.
Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.