What are the various benefit entitlements?

Mary

Mary is 30 years old with 6 years of service. She is single with no dependants. She has been on Disability Insurance for two years. At the time of her disability, Mary was earning $30,000 per year.

Maintenance of employment status (leave without pay)

Medical Retirement

Release for Incapacity/ Resignation

Mary will continue accumulating years of service while she remains on leave without pay. If she is able to remain in this status until she is age 65 and she buys back the years of service, she will receive 70% of her salary for her best consecutive five years as a pension.

Mary must pay an annual premium of $108.00 which will continue her supplementary death benefits.

Mary’s Dental Care Plan coverage will be continued at no cost.

Mary’s Health Care Plan coverage (Level I, basic) will be continued at no cost.

Mary will receive 12% of the annual salary for her best consecutive five years.

To continue her supplementary death benefits, Mary would have to pay an annual premium of $108.00.

Mary’s Dental Care Plan Coverage will be discontinued. However she can participate in the Pensioners Dental Services Plan at a premium rate of $16 per month.

Mary’s Health Care Plan Coverage can be maintained at a monthly rate of $21.78 for Level I (basic).

No pension is payable. Mary will receive 12% of the annual salary for her best consecutive five years, at the earliest at age 50 (it would then be a reduced pension).

To continue her supplementary death benefits, Mary will have to pay an annual premium of $342.60.

Mary’s Dental Care Plan coverage will be discontinued.

Mary’s Health Care Plan coverage will be discontinued.

Harminder

Harminder is 53 years of age and has 15 years of service. He is receiving Disability Insurance and has been on leave without pay for 3 years. He is married and has 3 children who still attend school. At the time of disability, Harminder was earning $45,000 per year.

Maintenance of employment status (leave without pay)

Medical Retirement

Release for Incapacity/ Resignation

Harminder will continue accumulating years of service while he remains on leave without pay. If he is able to remain in this status until he is age 65 and he buys back the years of service, he will receive 54% of his salary for his best consecutive five years as a pension.

Harminder must pay an annual premium of  162.00, which will continue his supplementary death benefits.

Harminder’s Dental Care Plan coverage will be continued at no cost.

Harminder’s Health Care Plan coverage, for himself and his family, can be continued at no cost.

Harminder will receive a pension of 30% of the annual salary for his best consecutive five years.

To continue his supplementary death benefits, Harminder will have to pay an annual premium of $162.00

Harminder’s Dental Care Plan coverage will be discontinued. However, he can participate in the Pensioners Dental Services Plan at a premium rate of $47.96 per month.

Harminder may continue coverage under the Health Care Plan. The monthly premium for basic family coverage will be $42.76.

Harminder can choose to receive an immediate pension. His pension would be 30% of the annual salary for his five best consecutive years. As he is retiring early, however, this pension will be reduced by 35% (age 60 – 53 = 7 X 5%). If he elects this option, his health care, supplementary death benefits and severance pay will be the same as under the Medical Retirement column.

Harminder can also choose to defer receipt of his pension until age 60 and receive a full pension of 30% of the salary of his five best consecutive years, his benefits will be:

Harminder’s Dental Care Plan coverage will be discontinued.

Harminder’s Health Care Plan coverage will be discontinued.