Common use of Payments and Benefits on the Retirement Date Clause in Contracts

Payments and Benefits on the Retirement Date. On the Retirement Date, TA will pay your unpaid wages for the period through the Retirement Date and, if required by law, for your remaining and unused vacation time, subject to all usual and applicable taxes and deductions. Your health insurance on TA’s group plan will terminate on the Retirement Date. To continue any health insurance beyond the Retirement Date, you must complete a continuation of coverage (COBRA) election form and make timely payments for coverage. Information regarding COBRA will be mailed to you. Any group life and disability insurance on our group plan will also terminate on the Retirement Date, as will your participation in TA’s 401(k) plans.

Payments and Benefits on the Retirement Date. On the Retirement Date, TA will pay your unpaid wages for the period through the Retirement Date and, if required by law, and for your remaining and unused vacation timetime as of the Effective Date, subject to all usual and applicable taxes and deductions. Your health insurance on TA’s group plan will terminate on the Retirement Date. To continue any health insurance beyond the Retirement Date, you must complete a continuation of coverage (COBRA) election form and make timely payments for coverage. Information regarding COBRA will be mailed to you. Any group life and disability insurance on our group plan will also terminate on the Retirement Date, as will your participation in TA’s and RMR’s 401(k) plans.