Common use of Benefit Reduction Clause in Contracts

Benefit Reduction. If the bank member is entitled to other income benefits, as defined below, or if such income benefits become payable to the bank member, his or her spouse, child, parent or other auxiliary for the same period of disability for which a weekly benefit is payable in accordance with the terms of this Agreement, then the amount of such weekly payments which is payable hereunder shall be reduced by the amounts of these other incomes. Other income benefits, referred to above, include: a. Any amount payable under any Worker’s Compensation Law, Occupational Disease Law, or any other legislation of similar purpose. b. The amount of any disability income benefits provided under any compulsory benefit act or law. c. Any periodic cash payable by virtue of the entitlement of the bank member, or which would have been payable if any application for the same were approved, under the Federal Social Security Act (primary and family benefits) provided that this Section 3 shall be inapplicable in any case in which due proof is submitted to the Town of Bedford that, after determination, the Bank member’s application for such Social Security cash payments has been disallowed.