Benefit Bank definition

Benefit Bank means the amount available to a Participant ------------ to be applied to purchase Benefits or loans hereunder. The Employer pays the
View Source

Examples of Benefit Bank in a sentence

  • Subsequently, where employees have sick benefits or approved allotments from the Sick Benefit Bank, there will be a deduction from those benefits or allotments of 1/4 of the time the employee is absent, or to the expiry of those benefits or allotments, whichever is sooner.

  • During the period that employees are receiving the 1/4 day sick benefits or Sick Benefit Bank allotments, they will continue to receive their regular pay.

  • The rate of accumulation will be 1- 1/4 working days per month worked in any partial calendar year of employment, less any sick benefits used and less any Sick Benefit Bank assessment.

  • All current employees will have until 6/30/11 to spend their allocated Benefit Bank dollars.

  • Employees will receive their 2011 Benefit Bank allocation ($350/single, $425/family) into the wellness account versus the Benefit Bank for 2011.

  • Employees who are retired prior to ratification of the agreement will have until 12/31/2012 to spend their allocated Benefit Bank dollars.

  • In any partial calendar year of employment, an employee may be absent from work for reasons of personal illness for up to one and one-quarter (1-1/4) days per month, less any Sick Benefit Bank assessments, without loss of pay.

  • After consultation with the Sick Benefit Bank Committee, including written documentation, the University may require a physician's certificate for periods of less than five (5) days.

  • Employees are provided with a Benefit Bank for the purchase of medical, dental and/or vision insurance for themselves and their eligible dependents.

  • Sick leave benefits and/or the Sick Benefit Bank will be credited upon payment of these monies.

Related to Benefit Bank

  • pension credit ; means the means-tested Guarantee or Savings Credit administered by the Department for Work and Pensions under the State Pension Credit Regulations 2002;

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • pension benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • BENEFIT LIMIT means the total benefit allowed under this plan for a covered healthcare service. The benefit limit may apply to the amount we pay, the duration, or the number of visits for a covered healthcare service.