Withdrawal Bonus Sample Clauses

Withdrawal Bonus a. Each employee who chooses not to elect health and hospital coverage with Rose Tree Media School District shall receive monthly payments equal to single employee contribution rates. If the employee chooses to re-enter the plan, the first re-entry shall be at no cost to the employee. The maximum monthly payment under the provisions of this section shall be two hundred and eighty-five ($285.00) dollars. No withdrawal bonus will be paid to any spouse/dependent of a district employee who is covered by the School District’s plan.
Sample 1
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Withdrawal Bonus. The maximum monthly payment under the provisions of this section shall be two hundred fifty-five ($255) two hundred and eighty-five ($285.00) dollars. No withdrawal bonus will be paid to any spouse/dependent of a district employee who is covered by the School District’s plan.
Sample 1
Withdrawal Bonus a) Except as hereafter set forth, each employee who chooses not to elect health and hospital coverage with the School District shall receive a monthly payment. If the employee chooses to re-enter the plan, the first re-entry shall be at no cost to the employee. The maximum monthly payment under the provisions of this section shall be two hundred fifty-five dollars ($255). If any employee is covered under any School District health and hospital coverage plan, that member shall not be entitled to receipt of a withdrawal bonus.
Sample 1

Related to Withdrawal Bonus

  • Withdrawal from the Plan (a) An employee may withdraw from the Plan any time prior to taking the leave of absence. Upon withdrawal, all the deferred salary plus accumulated interest shall be paid to the employee within sixty (60) days of notification of withdrawal from the Plan.

  • Basic Benefit Effective January 1, 2008, the basic life insurance benefit will be increased from $15,000 to $18,000 for employees. This shall be the default level of life insurance coverage, which shall be provided at no cost to the employee.

  • 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.

  • 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.

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