TIME ONLY. A-3.01 The Company will provide a Long Term Disability Plan to full-time employees to provide a monthly income benefit equal to sixty-six and two-thirds (66 2/3%) percent of the employee's base earnings as at the date of disability, subject to a maximum monthly income benefit of two thousand ($2,000) dollars less income payable to the employee from any other source on account of the same disability. The benefit is payable to those employees regarded as totally disabled according to the long term disability insurance contract, and covers total disabilities that commence after the above effective date. The 66 2/3% and $2,000 will apply only to new claims after October 1, 2008. The monthly income benefit is payable after the first one hundred and eighty (180) days of disability and ceases on the earliest of death, attainment of age sixty-five (65), or when the employee is no longer totally disabled according to the insurance contract. The premium cost of the Plan will be paid by the Company.
Appears in 2 contracts
Sources: Collective Agreement, Collective Agreement