Widows Benefit Clause Samples
The Widows Benefit clause provides financial support to the surviving spouse of a deceased individual, typically in the form of ongoing payments or a lump sum. This benefit may be triggered upon the death of an employee or policyholder and is often calculated based on factors such as the deceased's salary, years of service, or insurance coverage. Its core function is to offer economic security to widows, helping to mitigate the financial hardship that can result from the loss of a primary income earner.
Widows Benefit. Effective July 1, 1992, and thereafter, a group of widows of deceased Safety Members from the special safety class will receive a benefit of $350 per month.
Widows Benefit. Effective July 1, 2023, all Pay Schedule 1-C members will contribute an additional 1% contribution to the Employees' Retirement System. Effective July 1, 2026, all Pay Schedule 1-C members who have completed at least twenty-five (25) years of creditable service will be entitled to the Option 7 benefit, a 50% spousal benefit at no cost to the employee in retirement, provided the member meets the 36-month contribution requirement to pay for the Option 7 benefit. A Pay Schedule 1-C member who retires between July 1, 2023 and June 30, 2026 may purchase the Option 7 benefit by paying a post-tax 1% lump -sum equivalent of contributions for the period of time between their retirement effective date and July 1, 2026 based on the member's base salary at the time of retirement. The lump sum payment must be made on or before the member's retirement effective date and will not be included in the member's DROP Account. A Pay Schedule 1-C member who retires on or after July 1, 2026 and selects both the DROP and the Option 7 benefit may recoup some of the additional contributions for the Option 7 benefit in the member's DROP account. In order to meet the 36-month contribution requirement to pay for the Option 7 benefit, those members who select both the DROP and the Option 7 benefit must pay a post-tax lump-sum equivalent of contributions to cover the portion of the 36-month requirement that was included in the member's DROP benefit. The lump sum payment must be made prior to the member's retirement effective date. The additional contributions will be codified in Section 5-1-203 of the County Code. The Option 7 benefit will be codified in Section 5-1-231 of the County Code and the County Code will be the controlling document in the case of any discrepancies.
Widows Benefit. (1) Articles 18 to 24 shall also apply, with such modifications as the differing nature of the benefits shall require, to widow’s benefit.
(2) Where widow’s benefit would be payable under the legislation of one Party if a child were in the territory of that Party, it shall be payable while the child is in the territory of the other Party. SECTION 4
Widows Benefit. The ATLAS notifications also include additional information extracted from legacy systems, such as:
Widows Benefit. If a man has been insured under the legislation of both Parties, then -
(a) for the purpose of determining whether his widow is entitled to receive widow’s benefit under the legislation of either Party, any insurance period completed by him under the legislation of the other Party shall by treated as of it were an insurance period completed by him under the legislation of the former Party; and
(b) If the widow, is entitled to receive widow’s benefit under the legislation of the former Parties, the rate of that benefit shall be a part of the rate of the benefit which would have been payable to her under that legislation if every insurance period completed by her husband under the legislation of the latter Party had been an insurance period completed by him under the legislation of the former Party, namely, that part which bears the same relation to the whole as the total of all the insurance periods completed by him under the legislation of the former Party bears to the total of all the insurance periods completed by him under the legislation of both Parties.
Widows Benefit. The provisions concerning old age pensions contained in article 11 of this Agreement shall apply (with such modifications as the differing nature of the benefit shall require) to claims for widow's benefit under the legislation of one (or the other) Contracting Party.