Vision/Dental Coverage Options for Qualifying Retiring Employees Sample Clauses

Vision/Dental Coverage Options for Qualifying Retiring Employees a. Days in excess of the two hundred days (200) needed to reach the maximum prevailing ceiling may, at the employee's option, be "traded-­‐in" for Board-­‐paid vision and dental coverage for the retired employee only, with every fifteen (15) days equal to one (1) year of extended coverage. Extended coverage shall apply to full calendar years only; accumulations of less than fifteen (15) days shall have no value and are forfeited. Should the retiree predecease exhaustion of the accumulation's value, any remaining value expires. Retirees may arrange to purchase vision and dental coverage through the Board for eligible dependents during their own benefit entitlement period and for themselves and their eligible dependents at the conclusion of their benefit entitlement period. b. Any employee retiring with 60 or more accumulated sick days may opt to trade all of those days for years of vision and dental coverage based upon the formula fifteen (15) days = one (1) year of vision and dental coverage. (Refer to conditions in paragraph a). In selecting this option the employee waives the opportunity to receive monetary compensation.
Sample 1
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Vision/Dental Coverage Options for Qualifying Retiring Employees a. Days in excess of the two hundred days (200) needed to reach the maximum prevailing ceiling may, at the employee's option, be "traded-in" for Board-paid vision and dental coverage for the retired employee only, with every fifteen (15) days equal to one (1) year of extended coverage. Extended coverage shall apply to full calendar years only; accumulations of less than fifteen (15) days shall have no value and are forfeited. Should the retiree predecease exhaustion of the accumulation's value, any remaining value expires. Retirees may arrange to purchase vision and dental coverage through the Board for eligible dependents during their own benefit entitlement period and for themselves and their eligible dependents at the conclusion of their benefit entitlement period. b. Any employee retiring with 60 or more accumulated sick days may opt to trade all of those days for years of vision and dental coverage based upon the formula fifteen (15) days = one (1) year of vision and dental coverage. (Refer to conditions in paragraph a). In selecting this option the employee waives the opportunity to receive monetary compensation.
Sample 1
Vision/Dental Coverage Options for Qualifying Retiring Employees a. Days in excess of the two hundred days (200) needed to reach the maximum prevailing ceiling may, at the employee's option, be "traded-­‐-­‐-­‐in" for Board-­‐-­‐-­‐paid vision and dental coverage for the retired employee only, with every fifteen (15) days equal to one (1) year of extended coverage. Extended coverage shall apply to full calendar years only; accumulations of less than fifteen (15) days shall have no value and are forfeited. Should the retiree predecease exhaustion of the accumulation's value, any remaining value expires. Retirees may arrange to purchase vision and dental coverage through the Board for eligible dependents during their own benefit entitlement period and for themselves and their eligible dependents at the conclusion of their benefit entitlement period. b. Any employee retiring with 60 or more accumulated sick days may opt to trade all of those days for years of vision and dental coverage based upon the formula fifteen (15) days = one (1) year of vision and dental coverage. (Refer to conditions in paragraph a). In selecting this option the employee waives the opportunity to receive monetary compensation.
Sample 1

Related to Vision/Dental Coverage Options for Qualifying Retiring Employees

  • Contribution Formula Dental Coverage Faculty Member Coverage. For faculty member dental coverage, the Employer contributes an amount equal to the lesser of ninety percent (90%) of the faculty member premium of the State Dental Plan, or the actual faculty member premium of the dental plan chosen by the faculty member. However, for calendar years beginning January 1, 2006, and January 1, 2007, the minimum employee contribution shall be five dollars ($5.00) per month.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.05(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long-term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or via the Government Employees Compensation Act prevents the employee from receiving Employment Insurance or Québec Parental Insurance Plan benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.05(a), other than those specified in sections (A) and (B) of subparagraph 17.05(a)(iii), shall be paid, in respect of each week of benefits under the parental allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of the employee's rate of pay and the gross amount of his or her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.05 for a combined period of no more than the number of weeks during which the employee would have been eligible for parental, paternity or adoption benefits under the Employment Insurance or Québec Parental Insurance Plan, had the employee not been disqualified from Employment Insurance or Québec Parental Insurance Plan benefits for the reasons described in subparagraph (a)(i).

  • Probation for Newly Hired Employees (a) The Employer may reject a probationary employee for just cause. A rejection during probation shall not be considered a dismissal for the purpose of Article 11.2

  • Coverage Selection Prior to Retirement An employee who retires and is eligible to continue insurance coverage as a retiree may change his/her health or dental plan during the sixty (60) calendar day period immediately preceding the date of retirement. The employee may not add dependent coverage during this period. The change takes effect on the first day of the month following the date of retirement.

  • Dental Coverage Each employee covered by this agreement shall be eligible to participate in the City's dental program.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • 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).

  • Public Employees Retirement System “PERS”) Members.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Pre-Retirement Counseling Leave Each employee within four (4) years of chosen retirement age or date shall be granted, on a one-time basis, up to three and one-half (3-1/2) days leave with pay to pursue bona fide pre-retirement programs. Employees shall request the use of leave provided in this Section at least five (5) days prior to the intended day of use.

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