Single Life Pension Sample Clauses

Single Life Pension. Payable for the lifetime of the member and guaranteed for a period of 60 months. The amounts of pension provided under these options are calculated on an actuarially equivalent basis. Date of Birth: 10 December 1934 Date Hire: 1 January 1968 Retirement Date: 31 December 1999 Service to: 31 December 1971 4 years Service from: 1 January 1972 to 31 December 1999 27 years Total Service: 31 years Employee’s Average Annual Earnings for best 5 years $50,000.00 Maximum CPP Pensionable Earnings for >98 36,900.00 Excess of Av. Annual Earnings over YMPE $13,100.00 (a) Pension for Service from 1 Jan 1968 to December 1999 (Retirement) $50,000 x 31 x 1% $15,500.00 (b) Pension for excess of Average Annual Earnings over YMPE 1 Jan 1972 to 31 December 1999 $13,100 x 27 x 0.6% 2,122.20 Total Annual Pension $17,622.20 Total Monthly Pension Income $17,622.20 x 1/12 $ 1,468.52 All employees are eligible for membership in the Chemsal Club, an employee organization which sponsors various social events. The Club facilities are located on the banks of the Detroit River, adjacent to the Ojibway Mine, and includes complete kitchen and bar facilities, baseball diamond and boat launching facilities. The Club is operated by a Committee of elected employees of both the Windsor Facility and Ojibway Mine. Some of the events which they sponsor are the annual Children's Christmas Party, Fishing Derby, Annual Picnic, Corn Roast, Halloween Party and New Year's Celebration. An inexpensive monthly membership fee can be paid through payroll deduction and applications are available through the Human Resources Office or from a member of the Chemsal Club Executive.
Sample 1
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Single Life Pension. Payable for the lifetime of the member and guaranteed for a period of 60 months. The amounts of pension provided under these options are calculated on an actuarially equivalent basis. Date of Birth: 10 December 1934 Date Hire: 1 January 1968 Retirement Date: 31 December 1999 Service to: Service from: 31 December 1971 1 January 1972 to 4 years Total Service: 31 December 1999 27 years 31 years Employee’s Average Annual Earnings for best 5 years $50,000.00 Maximum CPP Pensionable Earnings for ’98 $36,900.00
Sample 1
Single Life Pension. Payable for the lifetime of the member and guaranteed for a period of 60 months. The amounts of pension provided under these options are calculated on an actuarially equivalent basis. Date of Birth: 10 December 1934 Date Hire: 1 January 1968 Retirement Date: 31 December 1999 Service to: 31 December 1971 4 years Service from: 1 January 1972 to 31 December 1999 27 years Total Service: 31 years Employee=s Average Annual Earnings for best 5 years $50,000.00 Maximum CPP Pensionable Earnings for >99 33,900.00 Excess of Av. Annual Earnings over YMPE 16,100.00 (a) Pension for Service from 1 Jan 1968 to December 1971 $50,000 x 4 x 1% $ 2,000.00 (b) Pension for Service from 1 Jan 1972 to 31 December 1987 $50,000 x 27 x 1.0% 13,500.00 $16,100 x 27 x 0.6% 2,608.20 Total Annual Pension $18,108.20 Total Monthly Pension $18,108.20 x 1/12 $ 1,509.02 Add CPP 1999 751.67 Add OAS 1999 410.82 Total Monthly Pension Income $ 2,671.51 Employees are required to clock in before the start of the regularly scheduled shift and again at the end of their shift. When an employee is late, he/she is docked in six minute intervals based on the time indicated on his/her time card. If an employee leaves before the end of his shift, he/she is penalized to the extent of twelve (12) minutes for the first twelve (12) minutes or less and six
Sample 1

Related to Single Life Pension

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Life Expectancy Life expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the Treasury regulations.

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Required Beginning Date The Participant’s entire interest will be distributed, or begin to be distributed, to the Participant no later than the Participant’s required beginning date.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time-to-time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time-to-time by the Company for the benefit of its senior executives, other than any annual cash incentive plan.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • No Pension Plans Neither the Company nor any current or past ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any Pension Plans subject to Title IV of ERISA or Section 412 of the Code.

  • Canadian Pension Plans The Loan Parties shall not (a) contribute to or assume an obligation to contribute to any Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent, or (b) acquire an interest in any Person if such Person sponsors, administers, maintains or contributes to or has any liability in respect of any Canadian Defined Benefit Plan, or at any time in the five-year period preceding such acquisition has sponsored, administered, maintained, or contributed to a Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent.

  • Municipal Pension Plan (a) An employer will provide the Municipal Pension Plan (MPP) to all eligible employees. (b) Employees of record on March 31, 2010, who meet the eligibility requirements of the MPP, have the option of joining or not joining the MPP. Eligible employees who initially elect not to join the MPP on April 1, 2010, have the right to join the MPP at any later date but will not be able to contribute or purchase service for the period waived. (c) All regular full-time employees hired after March 31, 2010, will be enrolled in the MPP upon completion of the earlier of their probationary period or three months and will continue in the plan as a condition of employment. Full-time hours of work are defined in the local issues agreement specific to each employer. Regular part-time employees and casual employees hired after April 1, 2010, who meet the eligibility requirements of the MPP have the right to enrol or not enrol in the MPP. Those who initially decline participation have the right to join the MPP at any later date. The MPP rules currently provide that a person who has completed two years of continuous employment with earnings from an employer of not less than 35% of the year's maximum pensionable earnings in each of two consecutive calendar years will be enrolled in the Plan. This rule will not apply when an eligible employee gives a written waiver to the Employer. (d) Employers will ensure that all new employees are informed of the options available to them under the MPP rules. (e) Eligibility and terms and conditions for the pension will be those contained in the Municipal Pension Plan and associated documents. (f) If there is a conflict between the terms of this agreement and the MPP rules, the MPP must prevail. Note: MPP contact information: Web: http:\\xxx.xxxxxxxxxx.xx Email: xxx@xxxxxxxxxx.xx Victoria Phone: 0-000-000-0000 BC Phone: 0-000-000-0000

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