This is an explanation
of benefits available to those of us facing a layoff.
Most of the benefits continuance will depend upon whether or not you have
established a continuity of service date (CSD). If you have worked for Trane for 52 weeks or more (1 year), you should have
established your CSD. If you have less than 1-year of service with Trane, your benefits will stop the day of layoff. Of course
even with less than 1 year of service with Trane, you
will still be eligible to continue your medical coverage under COBRA.
1.
If you
are laid off, and have at least 1 year of continuous service, you can continue
medical coverage for yourself and your eligible dependents for up to 12 months,
provided you maintain your continuity of service. Employee coverage continues
at no cost, however, the applicable premiums are required for continuance of
dependant coverage.
2.
If you
are laid off after having completed 3 or more years of continuous service,
medical coverage for you and your eligible dependants can be continued at no
cost for up to 12 months, provided you maintain your continuity of service.
3.
If you
have established your CSD and are laid off, coverage can be continued for up to
12 months for benefits such as Basic Life and AD&D (Accidental Death and
Dismemberment), Dental Procedures such as types 1,2,3,4,5,6 and 7, orthodontia
procedures already in progress when you received written notice of lay-off will
continue, Personal Accident Insurance, S&A (Sickness and Accident) benefits
that begin before layoff or within 31 days after layoff (you will not draw
unemployment compensation while drawing S&A) and the Individual Development
Program.
4.
The
Vision Service Plan terminates 90 days after layoff.
Income Extension Aid (IEA)
1.
If you
have 4 or more years of continuous service with Trane,
you are eligible, upon layoff, for IEA.
2.
A
one-week waiting period is required before you can draw IEA, the same as
applies for unemployment.
3.
You
must file for IEA each week of your layoff, including the waiting week, the
same as applies for unemployment. To file for IEA, you must submit the
paperwork and/or paycheck you receive each week from the unemployment office,
to payroll in Human Resources. There they will copy any and all the information
they need. A form can then be filled out for the IEA.
4.
When
combined with your unemployment benefits, your IEA will equal 60% of your
regular gross wages. For example: If you qualify for unemployment benefits and
draw 50% of your regular gross wages, you will be eligible for 10% IEA making
the total benefits received, when combined, equaling 60% of your regular gross
wages.
5.
The
total amount of IEA that can be drawn by you will be calculated on the basis of
1 weeks pay for each full year of continuous service you have with the company
plus ¼ weeks pay for each additional 3 months of continuous service at the time
of layoff. This total can be drawn from, provided you remain on layoff status,
until it is exhausted.
If you have any questions, you may e-mail Local
716 or you may contact Human Resources at Trane.