Benefits and Retirement Programs Clause Samples

Benefits and Retirement Programs. 1. The Company provides employees with health, prescription drug, dental, vision, life/accidental death and dismemberment, short term and long-term disability benefits (the “Benefits Program”) and participation in the Company’s enhanced 401k plan (the “Retirement Program”). Each benefit has a premium cost to the employee and eligible employees can choose the coverage(s) appropriate for them. Changes to specific benefits, carriers or providers or premium costs to the employees, or the elimination of same or any equivalent changes made in the Retirement Program, which the Company makes for non- union employees will apply to bargaining unit members. The Company will provide the Union with at least thirty (30) days’ notice of such changes and shall meet and discuss them with the Union upon request. Employees covered by this Agreement will be offered the benefits specified in this Article on the same terms and with the same conditions as they are offered to non-union employees generally. 2. An employee who is unable to work due to an injury at work will be paid for each day up to the first five (5) calendar days to the extent said employee is missing scheduled time. 3. Employees will be offered a bonus program if and to the extent one if offered by corporate and is conditioned on the Company’s financial performance. 4. Up to 40 hours of sick leave is available to employees annually, for allowable purposes under the law, which include: a. Care for the employee’s own physical or mental illness, injury, or other medical condition that requires home, preventative, or professional care; b. Care for the employee’s child, spouse, parent or parent of a spouse who is suffering from a physical or mental illness, injury, or other medical condition that requires home, preventive or professional care; “child” includes adult children; c. Attend routine medical appointment for employee or employee’s child, spouse, parent or spouse’s parent; d. To address the psychological, physical, or legal effects of domestic violence; or e. Travel to and from an appointment, pharmacy, or other location related to a sick leave purpose. 5. Medical documentation from a health care professional will be required within 7 days after taking sick leave in the following instances: a. Leave exceeds 3 consecutive scheduled work days; b. Occurs within 2 weeks prior to an employee’s final scheduled day of work before termination of employment; or c. Occurs after 4 unforeseeable and undocumented absence...
View Source
Benefits and Retirement Programs. 1. The Company provides employees with health, prescription drug, dental, vision, life/accidental death and dismemberment, short term and long‑term disability benefits (the “Benefits Program”) and participation in the Company’s enhanced 401k plan (the “Retirement Program”). Each benefit has a premium cost to the employee and eligible employees can choose the coverage(s) appropriate for them. Changes to specific benefits, carriers or providers or premium costs to the employees, or the elimination of same or any equivalent changes made in the Retirement Program, which the Company makes for non-union employees will apply to bargaining unit members. The Company will provide the Union with at least thirty (30) days’ notice of such changes and shall meet and discuss them with the Union upon request. Employees covered by this Agreement will be offered the benefits specified in this Article on the same terms and with the same conditions as they are offered to non-union employees generally. 2. Up to forty (40) hours of sick leave is available to employees annually, subject to the attendance policy in Article 9, Section 8. The forty (40) hours is intended to cover the waiting period prior to short-term disability. In the event of a short-term disability claim, available hours may be applied to the waiting period at the discretion of the employee. No employee may take less than 4 hours of sick leave when calling out before the start of his or her shift. An employee who has reported for his or her shift and becomes ill during that shift may use sick leave for the remaining balance of that shift, to the extent that the employee has not exhausted his or her 40 hours of sick leave. In order to receive sick pay for an absence that occurs the day before, the day of or the day after a holiday, the employee must submit documentation from a health care professional. a. The forty (40) hours of sick leave will be prorated for new hires. New hires shall be credited with four hours on the first of each month following their date of hire, during their first calendar year, not to exceed forty (40) hours. b. The Company will buy back any earned unused sick leave remaining as of December 31, to be paid out by the following January 31 at the employee’s regular straight time rate.
View Source
Benefits and Retirement Programs 
View SourceView Similar (2)

Related to Benefits and Retirement Programs

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and ▇▇▇▇ individual retirement accounts (“▇▇▇ Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Severance and Retirement Options (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars. (ii) Where an employee resigns later than 30 days after receiving notice pursuant to article 14.02(a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ($1,250) dollars. (b) Prior to issuing notice of layoff pursuant to article 14.02(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 14.02(a)(ii). Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks’ pay for each year of service with the Hospital to a maximum of fifty-two (52) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to $1,000.00 for every year less than age 65, to a maximum of $5,000.00.