PENSION PLAN CHANGE Sample Clauses

PENSION PLAN CHANGE. The Pension Plan will be amended for pension eligible employees covered by this 2017 MOU as follows: If a vested participant dies prior to his or her pension commencement date without having designated a pension beneficiary and without having any pension beneficiary by operation of law, the Pension Plan will pay a lump sum to the estate of the deceased participant equal to the amount that would have been paid to a beneficiary if there had been a designated pension beneficiary of the same age as the participant at the time of the participant's death.
Sample 1
AutoNDA by SimpleDocs

Related to PENSION PLAN CHANGE

  • Pension Plan 15.01 The CLAC Pension Plan (“the Plan”), a defined contribution pension plan, is registered with the Canada Revenue Agency. The Plan applies to all employees covered by this Agreement.

  • Benefit Plan If an employee maintains coverage for benefit plans while on maternity or parental leave, the Employer agrees to pay the Employer's share of these premiums.

  • Municipal Pension Plan (i) All newly hired regular employees shall participate under the Municipal Pension Plan, subject to the terms and conditions of such Plan, from their initial date of hire as a regular employee.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Health Benefit Plan Par. 1. The Health Benefit Plan covering life insurance, sickness and accident benefits, and hospitalization insurance, or any changes thereto that are in accordance with the National Elevator Industry Health Benefit Plan and Declaration of Trust, shall be a part of this Agreement and adopted by all parties signatory thereto.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Group Registered Retirement Savings Plan 9.9.1 The College agrees to implement a group Registered Retirement Savings Plan for participation by employees. For regular employees who wish to participate in the Plan, the College agrees to contribute the total amount of the annual contribution by the fifteenth of the first month of the Benefit Year. The employee shall repay that contribution through payroll deduction in equal instalments throughout the Benefit Year.

  • Retirement Savings 5.6.1 Principals are eligible to join a KiwiSaver scheme in accordance with the terms of those schemes.

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

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