PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System ("OMERS") Plan created by the Ontario Municipal Employees Retirement System Act, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-law 15-92) who transferred to part time member shall be excluded from the operation of this clause 15:01. 15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plan. 15:03 Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs. 15:04 The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time. (a) Coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided: (i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled; (ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member; (iii) the Board pays the same share of the premium as it did at the time the member retired; (iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months; (v) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and (vi) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage. (b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP 85 factor minimum age 55 retirement provision (i) notwithstanding clause 15:05 (a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and (ii) the Board shall provide semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06). (c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with (i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and (ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04). (iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06). (d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65: (i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and (ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the members’s invalid dependent child(xxx) and to the member’s child(xxx) under the age of 21.]
Appears in 2 contracts
Samples: Collective Agreement, Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System ("OMERS") Plan created by the Ontario Municipal Employees Retirement System Act, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-law 15-92) who transferred to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plan.
15:03 . Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 . The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated Understandingdated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;
(v) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(vi) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and
(ii) the Board shall provide semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the members’s invalid dependent child(xxx) and to the member’s child(xxx) under the age of 21.]
Appears in 2 contracts
Samples: Collective Agreement, Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System ("OMERS") Plan created by the Ontario Municipal Employees Retirement System Act, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-law 15-92) who transferred to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plan.
15:03 . Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 . The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;
(v) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(vi) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and
(ii) the Board shall provide semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the members’s invalid dependent child(xxx) and to the member’s child(xxx) under the age of 21.]
Appears in 2 contracts
Samples: Collective Agreement, Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System (Subject to clause 15:02, each full-time member in the "OMERSPermanent Service" class of members shall be covered by the provisions of By-law No. 15-92 of the City of Toronto and amendments thereto, being a by-law ") Plan created by to provide pensions for employees, their spouses and children, of the Police Service of the City of Toronto and other participating employers".
15:02 It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System ActPlan is by statute applicable to any member of the Service, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-By- law No. 15-92) who transferred 92 shall not be applicable to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plansuch member.
15:03 Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and the Dental Plan. The trustees Trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage The coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;
(viv) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or his/her surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [(this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(viv) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP TPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and
(ii) the Board shall provide pay 100% of the cost of premiums for semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the membersmember’s invalid dependent child(xxxchild(ren) and to the member’s child(xxxchild(ren) under the age of 21.]
Appears in 1 contract
Samples: Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System ("OMERS") Plan created by the Ontario Municipal Employees Retirement System Act, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-law 15-92) who transferred to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plan.
15:03 . Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 . The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;
(v) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(vi) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and
(ii) the Board shall provide semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the members’s invalid dependent child(xxx) and to the member’s child(xxx) under the age of 21.]
Appears in 1 contract
Samples: Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System (Subject to clause 15:02, each full-time member in the "OMERSPermanent Service" class of members shall be covered by the provisions of By-law No. 15-92 of the City of Toronto and amendments thereto, being a by-law ") Plan created by to provide pensions for employees, their spouses and children, of the Police Service of the City of Toronto and other participating employers".
15:02 It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System ActPlan is by statute applicable to any member of the Service, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-By- law No. 15-92) who transferred 92 shall not be applicable to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plansuch member.
15:03 Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and the Dental Plan. The trustees Trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage The coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;
(viv) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or his/her surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [(this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(viv) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP TPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and
(ii) the Board shall provide pay 100% of the cost of premiums for semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the membersmember’s invalid dependent child(xxx) and to the member’s child(xxx) under the age of 21.]
Appears in 1 contract
Samples: Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System (Subject to clause 15:02, each full time member in the "OMERSPermanent Service" class of members shall be covered by the provisions of By-law No. 15-92 of the City of Toronto and amendments thereto, being a by-law ") Plan created by to provide pensions for employees, their spouses and children, of the City of Toronto and other participating employers".
15:02 It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System ActPlan is by statute applicable to any member of the Service, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-By- law No. 15-92) who transferred 92 shall not be applicable to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plansuch member.
15:03 Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage The coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;
(viv) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or his/her surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [(this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(viv) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP TPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and
(ii) the Board shall provide pay 100% of the cost of premiums for semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the membersmember’s invalid dependent child(xxxchild(ren) and to the member’s child(xxxchild(ren) under the age of 21.]
Appears in 1 contract
Samples: Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System ("OMERS") Plan created by the Ontario Municipal Employees Retirement System Act, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-law 15-92) who transferred to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plan.
15:03 . Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 . The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;
(v) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(vi) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and
(ii) the Board shall provide semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the members’s invalid dependent child(xxx) and to the member’s child(xxx) under the age of 21.]
Appears in 1 contract
Samples: Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System (Subject to clause 15:02, every full-time member in the "OMERSPermanent Service" class of members shall be covered by the provision of By-law No. 15-92 of the City of Toronto and amendments thereto, being a by-law ") Plan created by to provide pensions for employees, their spouses and children, of the City of Toronto and other participating employers".
15:02 It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System ActPlan is by statute applicable to any member of the Service, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-By- law No. 15-92) who transferred 92 shall not be applicable to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plansuch member.
15:03 Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and the Dental Plan. The trustees Trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage The coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;.
(viv) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or his/her surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [(this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(viv) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP TPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and.
(ii) the Board shall provide pay 100% of the cost of premiums for semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the membersmember’s invalid dependent child(xxx) and to the member’s child(xxx) under the age of 21.]
Appears in 1 contract
Samples: Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System ("OMERS") Plan created by the Ontario Municipal Employees Retirement System Act, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-By- law 15-92) 92 who transferred to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plan.
15:03 Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;
(v) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [(this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(vi) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and
(ii) the Board shall provide semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the membersmember’s invalid dependent child(xxxchild(ren) and to the member’s child(xxxchild(ren) under the age of 21.]
Appears in 1 contract
Samples: Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System ("OMERS") Plan created by the Ontario Municipal Employees Retirement System Act, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-law 15-92) who transferred to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plan.
15:03 . Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 . The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;
(v) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(vi) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and
(ii) the Board shall provide semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the members’s invalid dependent child(xxx) and to the member’s child(xxx) under the age of 21.]
Appears in 1 contract
Samples: Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System (Subject to clause 15:02, every full-time member in the "OMERSPermanent Service" class of members shall be covered by the provision of By-law No. 15-92 of the City of Toronto and amendments thereto, being a by-law ") Plan created by to provide pensions for employees, their spouses and children, of the City of Toronto and other participating employers".
15:02 It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System ActPlan is by statute applicable to any member of the Service, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-By- law No. 15-92) who transferred 92 shall not be applicable to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plansuch member.
15:03 Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and the Dental Plan. The trustees Trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage The coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;.
(viv) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or his/her surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [(this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(viv) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP TPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and.
(ii) the Board shall provide pay 100% of the cost of premiums for semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the membersmember’s invalid dependent child(xxxchild(ren) and to the member’s child(xxxchild(ren) under the age of 21.]
Appears in 1 contract
Samples: Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System ("OMERS") Plan created by the Ontario Municipal Employees Retirement System Act, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-By- law 15-92) 92 who transferred to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plan.
15:03 Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;
(v) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [(this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(vi) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and
(ii) the Board shall provide semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the membersmember’s invalid dependent child(xxx) and to the member’s child(xxx) under the age of 21.]
Appears in 1 contract
Samples: Collective Agreement
PENSIONS AND RETIREMENT. 15:01 The Ontario Municipal Employees Retirement System (Subject to clause 15:02, each full time member in the "OMERSPermanent Service" class of members shall be covered by the provisions of By-law No. 15-92 of the City of Toronto and amendments thereto, being a by-law ") Plan created by to provide pensions for employees, their spouses and children, of the City of Toronto and other participating employers".
15:02 It is understood and agreed that to the extent that the Ontario Municipal Employees Retirement System ActPlan is by statute applicable to any member of the Service, as amended from time to time, and the Regulations thereunder, as amended from time to time, shall apply to all members covered by this agreement save and except those members receiving pensions from OMERS and those permanent members enrolled in the Toronto Pension Plan (By-By- law No. 15-92) who transferred 92 shall not be applicable to part time member shall be excluded from the operation of this clause 15:01.
15:02 In the event that the Toronto Police Benefit Fund (By-law 181-81) [the "PBF"] and/or the Toronto Pension Plan (By-law 15-92) [the "TPP"] become part of OMERS, members covered by this agreement receiving pensions from the PBF or the TPP may elect to cease to participate in OMERS under clause 15:01 if continued participation would disentitle them from receiving pension payments under the OMERS Plansuch member.
15:03 Every member shall be retired upon attaining the age of seventy years, such retirement to be effective on the last day of the month in which the seventieth birthday of such member occurs.
15:04 The Board has placed One Hundred Thousand Dollars in a fund to be administered by the Trustees of the Toronto Police Benefit Fund as set out in the Memorandum of Understanding dated May 12, 1977. The Trustees will continue to determine the rules and regulations of the Fund, but the objectives will be to provide a supplement to existing governmental payments (C.P.P., W.S.I.B.) and pension plan payments (O.M.E.R.S., Toronto Police Benefit Fund, Toronto Pension Plan) due to such dependents on the member's death, so that the disposable after tax income of the surviving dependents will be approximately one hundred per cent of the disposable after tax income of the deceased member, based on the salary for the deceased member at the time the payments are made. For this purpose salary shall include the premium costs of the Ontario Health Insurance Plan (O.H.I.P.), if any, the Semi-Private and Comprehensive Medical Plans and Dental Plan. The trustees will continue to have the right to adjust the amount depending on the circumstances of the individual case from time to time. The adequacy of the Fund will be reviewed from time to time.
(a) Coverage The coverage under this Article is available for that coverage which the member enjoyed under the insurance plans immediately prior to retirement and shall only be furnished provided:
(i) such coverage is not provided at the retired member's or retired member's spouse's place of employment. Upon termination of a period of ineligibility resulting from the fact that some or all of the coverage has been provided at the retired member's or retired member's spouse's place of employment the retired member may apply or re-apply for all or the remainder of the benefits under this clause 15:05, to which he/she is entitled;
(ii) these benefits do not apply to dependents other than spouse and an invalid dependent child of the member (as defined in the applicable insurance contract) and provided that the member (or spouse) remains covered under the terms of this clause and such benefits are not available to the invalid dependent child from another source without cost to the member;
(iii) the Board pays the same share of the premium as it did at the time the member retired;
(iv) premium payments cease when the member attains age 65. If the retired member dies or receives such benefits (i.e., has coverage hereunder) until age 65 and dies thereafter, his/her surviving spouse will be eligible for such coverage until the earlier of such surviving spouse attaining age 65 or the coverage to the member and surviving spouse has continued for a total of 120 months;
(viv) the retired member (or surviving spouse) resides in Canada but, if resident outside Ontario, the member or dependent shall be entitled to the insured benefits only to the extent that equivalent benefits are not available to the member or his/her surviving spouse under the provincial/territorial medicare plan in the province/territory in which the member or his/her surviving spouse resides [(this requirement shall be waived with respect to the $5,000 paid up life insurance policy described in the clauses (b)(i), (c)(i)]; and
(viv) ninety (90) days prior to the commencement of the coverage the member must make written application to the Board for this coverage.
(b) For members who retire under the OMERS Plan 90 factor early retirement provision or under the MTPP TPP 85 factor minimum age 55 retirement provision
(i) notwithstanding clause 15:05
(a) the member (but not his spouse or any other dependent) will be provided by the Board with a $5,000 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000); and
(ii) the Board shall provide pay 100% of the cost of premiums for semi-private hospitalization insurance (clause 14:03), comprehensive medical insurance (clause 14:04) and dental insurance (clause 14:06).
(c) For those members retiring on or after July 1, 1991 whose combination of years of age and years of credited service is not less than a total of 85 and who qualify for early retirement and an unreduced pension under the Metro Toronto Pension Plan or OMERS shall be provided, until the member reaches 65 years of age but in no event for a period in excess of 180 months, with
(i) a $5,000.00 paid up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000.00), and
(ii) the Board shall pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04).
(iii) the Board shall pay 100% of the cost of premiums for semi-private hospital insurance (clause 14:03) and dental insurance (clause 14:06).
(d) A member retiring on or after January 1, 2000 on an unreduced pension (including a disability pension in which case there is no minimum age and/or service restriction) shall be provided with the following benefits until he/she reaches age 65:
(i) the Board will pay 100% of the cost of premiums for comprehensive medical insurance (clause 14:04), dental insurance (clause 14:06); and semi-private hospital insurance (clause 14:03); and
(ii) the Board will provide the member with a $5,000 paid-up life insurance policy (any existing life insurance provided by the Board and continued after retirement shall be reduced by such $5,000). [NOTE: Notwithstanding sub-paragraph 15:05(a)(ii), benefits under this paragraph 15:05(d) shall apply to the member’s spouse, to the membersmember’s invalid dependent child(xxx) and to the member’s child(xxx) under the age of 21.]
Appears in 1 contract
Samples: Collective Agreement
