Survivor Income Benefit Sample Clauses

Survivor Income Benefit. The Employer agrees to contribute 50% of the premiums for the Plan currently in effect on the date of ratification.
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Survivor Income Benefit. If you are not retired on pension and at your death are survived by an eligible survivor, a monthly survivor Income Benefit will be payable as described below: A monthly Transition Benefit of $175.00 shall be payable for any month for which you have an eligible survivor. Payments begin on the first day of the calendar month following your death and continue for not more than twenty-four (24) months. On each date as of which a payment is payable, payment shall be made to your then surviving Class "A" survivor, if any, otherwise in equal shares to your then surviving Class "B" survivors, if any, otherwise in equal shares to your then surviving Class "C" survivors. In the event a payment has been made to the Class "C" survivor, no payments may thereafter be made to a Class "B" survivor. If on the date a payment would otherwise be made, there is no eligible survivor entitled to receive payment, no further Transition Benefit payments shall be made. Subject to the exception below, a monthly Bridge Benefit of $175.00 will be paid to your surviving Class "A" survivor, if any, commencing one month after the 24th monthly Transition Benefit payment was made. However to qualify for the Bridge Benefit it is necessary that your Class "A" survivor has, on the date of your death, attained age 50, but had not attained age 60 and received 24 monthly Transition Benefit payments. This benefit will continue while there is a Class "A" survivor, but not beyond the earlier to occur of the following: 1) The death or remarriage of the Class "A" survivor, or: 2) The Class "A"'s attainment of 65 or such lower age at which full Widow or Widower's Insurance Benefits become payable under the Federal Canada Pension Plan.
Sample 1
Survivor Income Benefit. A full-time employee with eligible dependents is eligible for insurance and shall be insured on the first day of the month next following the later of: six months’ continuous full-time employment with the Employer; or
Sample 1
Survivor Income Benefit. A full-time employee with eligible dependents is eligible for insurance and shall be insured on the first day of the month next following the later of: six (6) months’ continuous full-time employment with the Employer; or the date on which the employee acquires an eligible dependent. Where a single employee marries, the insurer shall require the employee to submit evidence of health. Where such evidence of health is not satisfactory to the insurer, the effective date of coverage for such employee shall be the first day of the month following the first anniversary of the marriage. Eligible dependent shall mean: the spouse of an employee, except for a spouse who is both estranged from the employee and not dependent on for support; and any dependent child of a married employee or of a widowed, widowered or divorced employee, including a stepchild or legally adopted child, who has not attained age eighteen (18). The insurance for an insured employee who becomes totally disabled before normal retirement age, will be continued without payment of premiums during the continuance of total disability until the employee recovers or attains normal retirement age. The insurer shall reserve the right to require the employee to submit to physical examination by physicians designated by it. Total disability means continuous disability which, during the first two (2) years of total disablement prevents an employee from performing any and every duty pertaining to the employee’s own occupation and thereafter from engaging in any occupation for which the employee is fitted through education, training or experience. The coverage shall terminate at the earliest of the following dates: the 15th day following the date of termination of employment with the Employer; the date of the employee's retirement or early retirement Pension under the Employer's Pension Plan: the date on which the employee attains normal retirement age; the date on which the employee ceases to have any eligible dependents; the date of re-marriage of a surviving spouse. On the death of an insured employee, a monthly benefit will be payable to spouse and/or children under age of eighteen (18). This benefit will be payable until the later of: the date of death or re-marriage of the spouse; or the date on which the youngest eligible child attains age eighteen (18). The amount of the monthly benefit,subject to the last paragraph in this Article will be one-twelfth of the greatest of: $600.00; or of the employee's...
Sample 1
Survivor Income Benefit. A. Transition Benefit (1) Eligibility A Transition Benefit will be paid to the survivor or survivors, as defined herein, of an employee (which term for purposes of paragraphs A. and B. of this Section only, shall include an employee retired on a permanent and total disability pension under the Pension Plan who has not attained the age of 65) who dies while insured for group life insurance under this Program, provided there are survivors living to receive it. The benefit will commence on the first day of the month following the death of the employee, and continue for not more than 24 months.
Sample 1
Survivor Income Benefit. A full-time employee with eligible dependents is eligible for insurance and shall be insured on the first day of the month next following the later of: i) six (6) months' continuous full-time employment with the Employer; or ii) the date on which the employee acquires an eligible dependent. i) the spouse of an employee, except for a spouse who is both estranged from the employee and not dependent on him/her for support; and ii) any dependent child of a married employee or of a widowed, widowered or divorced employee, including a stepchild or legally adopted child, who has not attained age eighteen (18). i) the 15th day following the date of termination of employment with the Employer; ii) the date of the employee's retirement or early retirement Pension under the Employer's Pension Plan; iii) the date on which the employee attains normal retirement age; iv) the date on which the employee ceases to have any eligible dependents; v) the date of re-marriage of a surviving spouse. i) the date of death or re-marriage of the spouse; or ii) the date on which the youngest eligible child attains age eighteen (18). i) $600.00; or
Sample 1
Survivor Income Benefit. Provided the Bank receives payment from the insurance policy insuring Executive’s life, the Bank shall pay to the Executive’s designated beneficiary(ies), in a single lump sum, the survivor income benefit of $25,000 in the event of the death of Executive under the following circumstances: (a) the death occurs while the Executive is employed by the Bank; (b) the death occurs following a voluntarily or involuntarily termination (exclusive of Termination for Cause) of Executive’s employment with the Bank during the 24 month period following a Change in Control; (c) the death occurs following the termination of Executive’s employment due to Disability and Executive has not recovered from such Disability at the time of death; or (d) the death occurs after Executive reaches Normal Retirement Age. The Bank shall make the payment within ninety (90) days of the presentation of claim and affirmative determination of the right to such benefit, pursuant to Article 5 hereof.
Sample 1
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Survivor Income Benefit 
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Related to Survivor Income Benefit

  • 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.

  • Survivor Benefits 1. A surviving dependent of a retiree who was eligible to receive a Retiree Medical Grant, as stated above in A through C, and who qualifies for a monthly allowance shall be eligible for fifty (50) percent of the Grant authorized for the retiree. 2. A surviving eligible retiree who qualifies for a monthly retirement allowance who was married to a retiree who was also eligible for a Grant shall receive the survivor benefit described in D.1., above, or his or her own Grant, whichever is greater. Such retiree shall not be eligible for both Grants.

  • Survivors Benefits Benefits for the surviving family members of individuals who have died from COVID–19, including cash assistance to widows, widowers, or dependents of individuals who died of COVID–19.

  • Public Benefit It is Reaction Retail’s understanding that the commitments it has agreed to herein, and actions to be taken by Reaction Retail under this Settlement Agreement, would confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of Reaction Retail that to the extent any other private party initiates an action alleging a violation of Proposition 65 with respect to Reaction Retail’s failure to provide a warning concerning exposure to DEHP prior to use of the Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Products addressed in this Settlement Agreement, provided that Reaction Retail is in material compliance with this Settlement Agreement.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Pre-Retirement Death Benefit (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • 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.

  • Life Annuity In addition to the rules imposed by the Act, a life annuity purchased with the property of the Plan must comply with Pension Legislation and must be established for the Annuitant’s life. However, if the Annuitant has a Spouse on the date payments under the life annuity begin, the life annuity must be established for the lives jointly of the Annuitant and the Annuitant’s Spouse, unless the Spouse has provided a waiver in the form and manner required by Pension Legislation. Where the surviving Spouse is entitled to payments under the life annuity after the Annuitant’s death, those payments must be at least 60 percent of the amount to which the Annuitant was entitled prior to the Annuitant’s death. The life annuity may not differentiate based on gender except to the extent permitted by Pension Legislation.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Lifetime Benefits This Letter of Understanding forms an integral part of the collective agreement, and is intended to continue in effect during the term of subsequent collective agreements to the extent provided for herein.

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