Laserfiche WebLink
Martin County Board of County Commissioners I Employee Benefit Highlights 12021 <br /> Voluntary Long Term Disability <br /> The County offers Long Term Disability(LTD)insurance to all eligible employees Long Term Disability Rate Table <br /> through The Standard.The LTD benefit pays a percentage of monthly earnings Monthly Rates <br /> if employee becomes disabled due to an illness or non-work related injury. <br /> Age Bracket Employee Cost <br /> Voluntary Long Term Disability(LTD)Benefits (Rased On Employee Age) (Rate Per$100 of Benefit) <br /> r- <br /> • LTD provides a benefit of 60%of employee's monthly earnings up to 1 <35 $0.196 i <br /> a benefit maximum of$5,000 per month. 35-44 1 $0.402 ,. <br /> • Employee must be disabled for 90 consecutive days prior to a5 5a $0.883 <br /> becoming eligible for benefits(known as the elimination period). <br /> 55-99 $1.430 <br /> • Benefits will begin on the 91st day of disability. <br /> • Employee may continue to be eligible for partial benefits if LTD Premium Calculation <br /> employee returns to work on a part-time basis. <br /> • Benefits are payable up to age 65 if disability occurs before age The LTD premium will be based on age and salary per$100 of monthly benefit. <br /> 62.Please see The Standard's Group Certificate for schedule of age To determine the monthly premium,use thefollowing rate calculation formula: <br /> benefits if employee becomes disabled at age 62 or older. Monthly Salary(not to exceed$8,333)x Premium Rate for Age(listed above) <br /> • The employee will receive benefits for the first 24 months if unable -$100=Monthly LTD Premium <br /> to return to employee's own occupation. <br /> • After 24 months,if employee can return to any occupation in which The Standard I Customer Service:(800)247-68881 www.standard.com <br /> they are suitably trained, educated, and capable of performing, Policy Number:642407 <br /> employee must return to that occupation (if the salary of that <br /> occupation does not meet the salary of the employee's own <br /> occupation,the plan will pay the difference). • <br /> • Benefits may be reduced by other income. <br /> • <br /> 99 <br /> 17 <br /> ©2016,Gehring Group,Inc.,All Rights Reserved <br />