PENSIONERS’ LIFE INSURANCE Sample Clauses

PENSIONERS’ LIFE INSURANCE. An employee who has completed ten (10) years of service with the Company and who is entitled to and in receipt of a Company pension shall be provided with a $4,500 life insurance benefit.
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PENSIONERS’ LIFE INSURANCE. Life insurance will be provided to all employees who retire from the District as follows: A. First year of retirement, fifty percent (50%) of the basic group life insurance; B. Second year of retirement, forty percent (40%) of the basic group life insurance; C. Third year of retirement, thirty percent (30%) of the basic group life insurance; D. Fourth and subsequent years of retirement, twenty percent (20%) of the basic group life insurance. This section is subject to the provisions of Section 5.1 “Group Insurance and District Self-Funded Plans”.
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PENSIONERS’ LIFE INSURANCE. Life insurance will be provided to all employees who retire from the District on either a service or a disability retirement as follows: A. First year of retirement, fifty percent (50%) of the employee’s annual base earnings rounded to the next higher even thousand dollars ($1,000); B. Second year of retirement, forty percent (40%) of the employee’s annual base earnings rounded to the next higher even thousand dollars ($1,000); C. Third year of retirement, thirty percent (30%) of the employee’s annual base earnings rounded to the next higher even thousand dollars ($1,000); D. Fourth and subsequent years of retirement, twenty percent (20%) of the employee’s annual base earnings rounded to the next higher even thousand dollars ($1,000). This section is subject to the provisions of Section 31 Group Insurance and District Self Funded Plans General.
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PENSIONERS’ LIFE INSURANCE. The existing provisions from the 2013-2018 CBA shall remain in effect until replaced by the above provisions. Apart from Sections 6.3, Pensioners’ Life Insurance and 11.1, General Wage Increases, any effective dates reflected in Tentative Agreements previously signed shall be excluded from the CBA.
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PENSIONERS’ LIFE INSURANCE. 1. Life insurance will be provided to all employees who retire from the District before July 1, 2019 on either a service or a disability retirement as follows: A. The first year of retirement, fifty percent (50%) of the employees’ annual base earnings rounded to the next higher even thousand dollars ($1,000); B. The second year of retirement, forty percent (40%) of the employees’ annual base earnings rounded to the next higher even thousand dollars ($1,000); C. The third year of retirement, thirty percent (30%) of the employees’ annual base earnings rounded to the next higher even thousand dollars ($1,000); D. The fourth and subsequent years of retirement, twenty percent (20%) of the employees’ annual base earnings rounded to the next higher even thousand dollars ($1,000). This Section is subject to the provisions of Section 33 - Group Insurance and Self-Funded Plans - General. 2. The District will no longer provide Pensioners’ Life Insurance for employees who retire from District service on or after July 1, 2019.
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PENSIONERS’ LIFE INSURANCE. Life insurance will be provided to all employees who retire from District employment as follows: A. First year of retirement, fifty percent (50%) of the employee’s annual base earnings; B. Second year of retirement, forty percent (40%) of the employee’s annual base earnings; C. Third year of retirement, thirty percent (30%) of the employee’s annual base earnings; D. Fourth and subsequent years of retirement, twenty percent (20%) of the employee’s annual base earnings. This Section is subject to the contract language governing “Group Insurance and District Self-Funded Plans”.
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PENSIONERS’ LIFE INSURANCE. Life insurance will be provided to all employees who retire from the District on either a service or a disability retirement as follows: A. The first year of retirement, fifty percent (50%) of the employee's annual base earnings rounded to the next higher even thousand dollars ($1,000); B. The second year of retirement, forty percent (40%) of the employee's annual base earnings rounded to the next higher even thousand dollars ($1,000); C. The third year of retirement, thirty percent (30%) of the employee's annual base earnings rounded to the next higher even thousand dollars ($1,000); D. The fourth and subsequent years of retirement, twenty percent (20%) of the employee's annual base earnings rounded to the next higher even thousand dollars ($1,000). The District agrees to discuss any changes proposed by the insurance carriers in insurance plans. This Provision is subject to Provision 5.8 - "Group Insurance & District Self- Funded Plans."
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Related to PENSIONERS’ LIFE INSURANCE

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Group Life Insurance The Hospital shall contribute one hundred percent (100%) toward the monthly premium of HOOGLIP or other equivalent group life insurance plan in effect for eligible full-time employees in the active employ of the Hospital on the eligibility conditions set out in the existing Agreements.

  • Retiree Life Insurance Employees who retire under the Monroe County Employees' Retirement System shall be eligible for $4,000.00 term life insurance. All employees hired by the Employer on or after October 1, 2007 shall not be eligible for Retiree Life Insurance.

  • Key Man Life Insurance The Company may apply for and obtain and maintain a key man life insurance policy in the name of Executive together with other executives of the Company in an amount deemed sufficient by the Board, the beneficiary of which shall be the Company. Executive shall submit to physical examinations and answer reasonable questions in connection with the application and, if obtained, the maintenance of, as may be required, such insurance policy.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Group Life Insurance Plan Eligibility

  • Insurance Plan 19.01 The Employer agrees to contribute the indicated percentage of the premium cost of the following group plans for full-time employees (and their families where applicable) who have completed their probationary period.

  • Life Insurance Coverage a. Forty Thousand ($40,000) Dollars life insurance policy with AD&D from an insurance carrier selected by the Board, subject to the provisions of this section. b. Employees who have Board-provided term life insurance shall have a thirty- one (31) day conversion right upon termination of employment. Any employee electing the right to conversion in order to keep term life insurance in force, must contact the insurance carrier within thirty-one (31) days of the last day of employment. c. The life insurance policy shall pay to the employee’s beneficiary the aforementioned sum within the underwriting rules and regulations as set forth by the insurance carrier.

  • Dependent Life Insurance In the event of the death of your spouse or dependent child from any cause whatsoever, while you and your dependents are insured under the plan, the insurance company will pay you $10,000 in respect of your spouse and $5,000 in respect of each insured dependent child. This applies to those employees with family health coverage only.

  • Basic Life Insurance 37.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the basic life insurance plan. 37.2 The basic life insurance plan shall provide: (a) Effective June 1, 2002, coverage equal to one hundred percent (100%) of annual salary or ten thousand dollars ($10,000), whichever is greater; (b) where an employee is continuously disabled for a period exceeding six (6) months, the Employer will continue to pay monthly premiums on behalf of the employee until the earliest of recovery, death, or the end of the month in which the employee reaches age sixty-five (65). Any premiums paid by the employee for this coverage between the date of disability and the date this provision comes into force shall be refunded to the employee; (c) a conversion option for terminating employees to be obtained without evidence of insurability and providing coverage up to the amount for which the employee was insured prior to termination (less the amount of coverage provided by the Employer in the case of retirement). The premium of such policy shall be at the current rates of the insuring company. Application must be made within thirty-one (31) days of the date of termination of insurance. The Employer will advise terminating employees of this conversion privilege. The minimum amount that may be converted is two thousand dollars ($2,000). The conversion options shall be: 1. Any standard life or endowment plans (without disability or double-indemnity benefits) issued by the insurance carrier. 2. A one (1) year term insurance plan which is convertible to the standard life or endowment plans referred to in option 1 above. 3. A term to age sixty-five (65) insurance plan. 37.3 The amount of basic life insurance will be adjusted with changes in the employee’s salary from the date of approval of the increase or the effective date, whichever is later. If an employee is absent from work because of sickness or disability on the date an increase in insurance would have occurred, the increase will not take effect until the employee returns to work on a full-time basis (i.e., for at least one (1) full day). 37.4 Basic life insurance will terminate at the end of the month in which an employee ceases to be a regular employee unless coverage is extended under the total disability provision. Employees who receive a monthly benefit from the Public Service Superannuation Fund or the OPSEU Pension Trust are entitled to free coverage of two thousand dollars ($2,000) not earlier than thirty-one (31) days after the first of the month coinciding with or following date of retirement and this amount will be kept in force for the remainder of the employee’s life.

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