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Long Service Benefits definition

Long Service Benefits means the benefits which would fall to be paid to or in respect of a member if the member remained in service until and retired on attaining normal pension age.

Examples of Long Service Benefits in a sentence

  • The association employs a number of staff who are covered by the Long Service Benefits Portability Act 2018.

  • While this Bill was unfortunately not made an Act of Parliament, it has provided an important foundation for discussions surrounding the Long Service Benefits Portability Act 2018 (the Act).

  • Employees are entitled to Long Service Leave in accordance with the Long Service Leave Act (2018) and where appropriate the Portable Long Service Benefits Scheme (2019).

  • To that end we seek that regulatory clarification is provided for the other two sectors to ensure that the scopes as set out in Schedule 2 and 3 of the Long Service Benefits Portability Act 2018 do not inadvertently cover employers and employees that are not in the sector.

  • Long Service Benefits Portability Act 2018, and by Order of the Governor in Council and commences on 1 July 2019.

  • In addition to traditional long service, Victoria offers portable long service benefits for eligible workers in the community services sector.The Portable Long Service Benefits Scheme allows eligible workers to build up long service entitlements based on time spent in their industry, rather than with a single employer.

  • Effect of previous payments 12.-Where this Part imposes any liability to make a redundancy payment in respect of a period of employment, that liability shall be taken to have been discharged to the extent, if any, that payment has been made in respect of that period in purported compliance with Part II of the Labour (Redundancy Payments and Long Service Benefits) Rules 1978 or the Labour (Redundancy Payments and Long Service Benefits) Rules 1979.

  • An employee is entitled to long service leave in accordance with the provisions of Long Service Benefits Portability Act 2018 (Vic), as varied, amended, or replaced.

  • ARTICLE Employee Representatives ARTICLE Leave With or Without Pay for Union Business ARTICLE No Discrimination Harassment ARTICLE Statutory and Floating Holidays ARTICLE Vacation Leave ARTICLE Sick Leave ARTICLE Maternity and Parental Leave ARTICLE Leave for Educational Purposes ARTICLE Other Leave With or Without Pay ARTICLE Compassionate Care Leave ARTICLE Self-Funded Leave ARTICLE Long Service Benefits ARTICLE Hours of Work ARTICLE Overtime ARTICLE Shift Premiums ARTICLE Reporting.

  • A summary of the significant accounting policies used by Petro-Canada can be found in Note 1 to the 2004 Consolidated Financial Statements.

Related to Long Service Benefits

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Disability Support Pension means the Commonwealth pension scheme to provide income security for persons with a disability as provided under the Social Security Act 1991, as amended from time to time, or any successor to that scheme.

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Severance Benefits means the payment of severance compensation as provided in Section 3.3 herein.

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Employment benefits means all benefits provided or made

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Resource Adequacy Benefits means the rights and privileges attached to the Facility that satisfy any entity’s resource adequacy obligations, as those obligations are set forth in any Resource Adequacy Rulings and shall include any local, zonal or otherwise locational attributes associated with the Facility.

  • Pharmacy benefits manager means a person that performs pharmacy benefits management.

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Employer for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, but subject to any deferral election then in effect, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained at the target level (reduced, but not below zero, by amounts paid under all such contingent bonus or incentive compensation awards upon the Change in Control of the Company to the extent such amounts relate to the same period of time); and (v) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary) may be entitled on the Termination Date as compensatory fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits; provided that payments pursuant to clause (iv)(B) shall be paid on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs, unless the Executive’s Separation from Service is due to death, in which event such payment shall be made within 90 days of the date of Executive’s death.

  • Bereavement Pay Benefits means the benefits as set out in Article II hereof.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Pharmacy benefits management means the administration or management of prescription drug

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Relevant Benefits means any pension, annuity, lump sum, gratuity or other like benefit given or to be given on retirement or death, or in anticipation of retirement.

  • Termination Benefit means the benefit set forth in Article 7.

  • Extended benefits means benefits, including benefits payable to federal civilian employees and to ex-servicemen under 5 U.S.C. Chapter 85, payable to an individual under the provisions of this section for weeks of unemployment in his eligibility period.

  • Supported employment services means provision of job training and supervision available to assist an individual who needs intensive ongoing support to choose, get, and keep a job in a community business setting. Supported employment is a service planned in partnership with public vocational assistance agencies and school districts and through Social Security Work Incentives when available.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Covered benefits or “benefits” means those health care services to which a covered person is entitled under the terms of a health benefit plan.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Accrued Professional Compensation means, at any given moment, all accrued, contingent and/or unpaid fees and expenses (including, without limitation, success fees) for legal, financial advisory, accounting and other services and reimbursement of expenses that are awardable and allowable under section 328, 330(a) or 331 of the Bankruptcy Code and were rendered before the Effective Date by any Retained Professional in the Chapter 11 Cases, or that are awardable and allowable under section 503 of the Bankruptcy Code, that have not been denied by a Final Order, all to the extent that any such fees and expenses have not been previously paid (regardless of whether a fee application has been filed for any such amount). To the extent that the Bankruptcy Court or any higher court denies or reduces by a Final Order any amount of a Retained Professional’s fees or expenses, then those reduced or denied amounts shall no longer constitute Accrued Professional Compensation.