Kamloops Thompson
BENEFIT: Long Term Disability
BENEFITS PROVIDER: Desjardins
POLICY #: 647227
SD73-Management
Long Term Disability Benefit
Percentage & Maximum of Benefit:
For employees earning less than $240,000 in annual salary: 60% of the first $7,500 of gross monthly Earnings and 50% of the balance, rounded to the next $1, if not already a multiple, up to a maximum of $10,000.
For employees earning more than $240,000 in annual salary: 60% of the first $7,500 of gross monthly Earnings and 50% of the balance, rounded to the next $1, if not already a multiple, up to a maximum of $15,000.
Non-Evidence Maximum of Insurability:
For employees earning less than $240,000 in annual salary: $10,000
For employees earning more than $240,000 in annual salary: $15,000
Elimination Period:
117 calendar days or expiration of benefits under the Employer’s sick leave plan to a maximum of 120 sick leave days, whichever is later.
Maximum Benefit Period:
To age 65 or 35 years of pensionable service, whichever is earlier.
Benefit Termination
Age Limit:
The date the Participant is eligible for a full unreduced pension, or the end of the month in which the Participant reaches age 65 or 35 years of pensionable service, less the Elimination Period, or retirement, whichever is earlier.