Page 27 - GLG 2021 Annual Benefits
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Long Term Disability (LTD)
Long-term disability beneits are provided to you if you cannot work as a result of illness or injury. In order to
qualify for these beneits, you must be unable to perform each of the main duties of your job due to illness
or injury.
Who provides your LTD beneits? Can your LTD beneit payment be reduced?
Your LTD beneit is insured by Unum. Yes. Depending on your circumstances, your beneits
may be reduced by:
How much of your income can LTD > Any disability beneits or retirement beneits you
beneits replace? may receive under your employer’s retirement plan
Through the GLG-paid LTD beneit, if you qualify for or a government retirement plan;
LTD beneits, you will receive up to 60% of your pay, > Beneits payable to you by Social Security; and
to a maximum of $5,000 per month. You may also
purchase voluntary LTD coverage that may cover > Earnings you may receive from any form of
you for up to 60% of your salary, up to an additional employment.
$10,000 per month, depending on your annual salary.
The maximum beneit payable under both the GLG- LTD Buy-Up
paid and voluntary LTD plans is 60% of your pay, to a LTD Plan Features LTD Core Option
maximum of $15,000 per month—excluding overtime, Maximum Monthly Beneit 1
bonuses and other incentive-based compensation. Less than $200,000 $5,000 $10,000
More than $200,000
$15,000
Find the LTD schedule on the following page.
Elimination Period 90 days
Who pays for your LTD beneits? If your disability occurs before age
60, beneits will be payable until
GLG pays for your company-paid LTD beneits. You age 65. If your disability occurs at
must pay for any voluntary LTD beneits you elect. Beneit Duration Period or after age 60, beneits would be
paid according to a beneit duration
The premium amount paid is included in the schedule.
employee’s taxable income and reported on the W-2. Deinition of Disability Own occupation to age 65
Since premium is paid with post-tax dollars, this Mental/Nervous Maximum
arrangement is intended to yield a nontaxable beneit. Beneit Period 2 years
When does your beneit payment begin? Survivor Beneit 3 months
Whether you are ill or have an accident, beneits Rate Per $100 of Beneit N/A $0.230
Less than $200,000
become payable after 90 days following the More than $200,000 N/A $0.280
occurrence of your disability. 1. Beneit payment limit for combined employee-paid and voluntary LTD
How long may LTD beneits be paid? beneits is 60% of your pay, up to $15,000 per month.
Note: This summary of STD and LTD beneits provides only highlights of
If you qualify for coverage, you will be eligible to these beneits. Please refer to the oficial plan documents or Summary Plan
receive beneits as long as you are disabled, but no Description, or contact GLG Human Resources at HRSupport@glg.it for
speciic terms and conditions, including limitations and exclusions.
later than age 65 or Social Security Normal Retirement
Age (whichever is later).
Are beneits automatically paid?
No. You must apply to Unum and qualify for beneits
under the LTD program. No Evidence of Insurability
(EOI) is required if you enroll in the LTD buy-up during
the annual enrollment. There is a 3/12 pre-existing
condition limitation that will apply.
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Long-term disability beneits are provided to you if you cannot work as a result of illness or injury. In order to
qualify for these beneits, you must be unable to perform each of the main duties of your job due to illness
or injury.
Who provides your LTD beneits? Can your LTD beneit payment be reduced?
Your LTD beneit is insured by Unum. Yes. Depending on your circumstances, your beneits
may be reduced by:
How much of your income can LTD > Any disability beneits or retirement beneits you
beneits replace? may receive under your employer’s retirement plan
Through the GLG-paid LTD beneit, if you qualify for or a government retirement plan;
LTD beneits, you will receive up to 60% of your pay, > Beneits payable to you by Social Security; and
to a maximum of $5,000 per month. You may also
purchase voluntary LTD coverage that may cover > Earnings you may receive from any form of
you for up to 60% of your salary, up to an additional employment.
$10,000 per month, depending on your annual salary.
The maximum beneit payable under both the GLG- LTD Buy-Up
paid and voluntary LTD plans is 60% of your pay, to a LTD Plan Features LTD Core Option
maximum of $15,000 per month—excluding overtime, Maximum Monthly Beneit 1
bonuses and other incentive-based compensation. Less than $200,000 $5,000 $10,000
More than $200,000
$15,000
Find the LTD schedule on the following page.
Elimination Period 90 days
Who pays for your LTD beneits? If your disability occurs before age
60, beneits will be payable until
GLG pays for your company-paid LTD beneits. You age 65. If your disability occurs at
must pay for any voluntary LTD beneits you elect. Beneit Duration Period or after age 60, beneits would be
paid according to a beneit duration
The premium amount paid is included in the schedule.
employee’s taxable income and reported on the W-2. Deinition of Disability Own occupation to age 65
Since premium is paid with post-tax dollars, this Mental/Nervous Maximum
arrangement is intended to yield a nontaxable beneit. Beneit Period 2 years
When does your beneit payment begin? Survivor Beneit 3 months
Whether you are ill or have an accident, beneits Rate Per $100 of Beneit N/A $0.230
Less than $200,000
become payable after 90 days following the More than $200,000 N/A $0.280
occurrence of your disability. 1. Beneit payment limit for combined employee-paid and voluntary LTD
How long may LTD beneits be paid? beneits is 60% of your pay, up to $15,000 per month.
Note: This summary of STD and LTD beneits provides only highlights of
If you qualify for coverage, you will be eligible to these beneits. Please refer to the oficial plan documents or Summary Plan
receive beneits as long as you are disabled, but no Description, or contact GLG Human Resources at HRSupport@glg.it for
speciic terms and conditions, including limitations and exclusions.
later than age 65 or Social Security Normal Retirement
Age (whichever is later).
Are beneits automatically paid?
No. You must apply to Unum and qualify for beneits
under the LTD program. No Evidence of Insurability
(EOI) is required if you enroll in the LTD buy-up during
the annual enrollment. There is a 3/12 pre-existing
condition limitation that will apply.
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