Benefit Commencement Sample Clauses
The Benefit Commencement clause defines the specific point in time when a beneficiary becomes entitled to start receiving benefits under an agreement or plan. Typically, this clause outlines the conditions or events that trigger the start of payments, such as reaching a certain age, retirement, or the occurrence of a qualifying event. Its core practical function is to provide clarity and certainty regarding when benefits are to be paid, thereby preventing disputes and ensuring all parties understand their rights and obligations.
Benefit Commencement. 1st day of disability for accident 8th consecutive day of disability for sickness If you must be hospitalized because of an accident or sickness, benefit payments will begin as of the date you’re confined in a legally licensed hospital as an in-patient for at least 24 hours. 33 weeks You must be unable to perform the essential duties of your own occupation. Availability of your own occupation is not relevant when assessing disability from your own occupation. According to information provided by your Group Plan Administrator and our current records, your S.T.D. benefit payments are taxable income to you and we will provide you with a T4A for the current tax year. Any dispute regarding the taxation of your benefits shall be governed by applicable legislation and decisions of tax authorities. Please contact your Group Plan Administrator or your tax advisor if you have any questions or concerns. Drug Plan: 80% Major Services: 80% Hospital Services: 80% Vision Care Services: 80% Pay-Direct Drug Plan #84G
Benefit Commencement. First (1st) day after seventeen (17) week Weekly Indemnity period. Benefits are payable from the first (1st) day of disability and continue for a maximum of five (5) years, inclusive of Weekly Indemnity. The amount of the monthly benefit payable to an employee will be reduced by any benefit the employee is eligible to receive through the Canada/Quebec Pension Plan (excluding Dependent Benefits and/or Worker's Compensation Benefits). The qualifications for limited eligibility will be the same as those for Weekly Indemnity.
Benefit Commencement. Benefit commencement shall remain as it was during the 2023- 2025 agreement through December 31, 2025. Effective January 1, 2026, newly eligible employees that elect coverage specified in Article 15(D) under the Minneapolis Retail Meat Cutters and Food Handlers (MRMC) Health and Welfare Plan (the “HGW Plan”) shall have coverage commence the first day of the calendar month following the calendar month the Fund receives contributions on the employee’s behalf.
Benefit Commencement. Newly eligible employees that elect coverage specified in Article 15(D) under the Minneapolis Retail Meat Cutters and Food Handlers (MRMC) Health and Welfare Plan (the “H&W Plan”) shall have coverage commence the first day of the calendar month following the calendar month the Fund receives contributions on the employee’s behalf.
Benefit Commencement. Accident - First (1st) day of disability. Sickness - First (1st) day of disability if hospitalized, or receiving out-patient care. For weekend workers the first day of disability if hospitalized, or receiving out-patient care, or the third shift of disability if not hospitalized or receiving out-patient care. - Eligibility for Weekly Indemnity on grounds of sickness will be the fourth (4th) day of disability. Maximum benefit period seventeen (17) weeks.
Benefit Commencement. Date shall mean the first business day of the calendar month following the earliest of (i) Executive’s Separation from Service or (iii) Executive’s death.
Benefit Commencement. Anything herein to the contrary notwithstanding, a Participant's benefit payments shall commence not later than the April 1 following the calendar year in which the Participant attains age 70-1/2 years, regardless of his employment status. If the Participant fails to file an application with the Trustees, his benefits will commence in accordance with procedures adopted by the Trustees. Notwithstanding any other provision of the Plan to the contrary, the Plan will apply the regulations concerning the minimum distribution requirements of Code Section 401(a)(9) that were proposed in 1987 with respect to distributions made for Plan Years beginning before January 1, 2003, and will apply the final regulations under Code Section 401(a)(9) with respect to distributions made for Plan Years beginning on or after January 1, 2003. All distributions under the Plan will meet the requirements of Treas. Reg. 1.401(a)(9)-2 through 1.401(a)(9)-9, including the incidental benefit requirements of Section 401(a)(9)(G) of the Code.
Benefit Commencement. The Benefit payable under this SERP Agreement shall commence following (i) retirement of the Participant on or after December 31, 2005, (ii) termination of the Participant's employment with the Company pursuant to Section 7.4.1 of the Employment Agreement dated as of June 14, 1999 between the Participant and the Company (the "Employment Agreement"), (iii) payment by the Company to the Participant of damages for a material breach by the Company of the Change-in-Control Agreement referenced in Section 9.1 of the Employment Agreement (the "Change-in-Control Agreement"), (iv) termination of the Participant's employment pursuant to Section 7.2 of the Employment Agreement or (v) the Participant's death after attaining age 55 but before benefits commence hereunder. In no event will benefits commence prior to the first day of the month following the end of the Continuation Period (as defined in the Employment Agreement) if any. The Benefit payable under this SERP Agreement shall be payable to the Participant and, if applicable, to his spouse or beneficiary after his death.
Benefit Commencement day of disability. amount Nil Major service including travel assist (subject to change) Reimbursement Percentage One hundred percent (100%) Private Reimbursement Percentage One hundred percent Deductible amount Nil Reimbursement percentage One hundred (100%) Annual maximum One thousand dollars
Benefit Commencement. Accident: 1st day