See All of This Company's Exhibits
Program Date: | January 1, 2012 | ||
Contract Holder: | PNM RESOURCES, INC. | ||
Group Contract Number: | G-51330-NM | ||
Covered Classes: | All full-time active Employees classified by the Contract Holder as Officers. | ||
Minimum Hours Requirement: | Employees must be working at least 32 hours per week. | ||
Employment Waiting Period: | You may need to work for your Employer for a continuous period before you become eligible for the plan. The period must be agreed upon by your Employer and Prudential. Your Employer will let you know about this waiting period. | ||
Elimination Period: | 90 days. Benefits begin the day after the Elimination Period is completed. | ||
Monthly Benefit: | 66.7% of your monthly earnings, but not more than the Maximum Monthly Benefit. Your benefit may be reduced by deductible sources of income and disability earnings. Some disabilities may not be covered or may be limited under this coverage. | ||
Maximum Monthly Benefit: | $15,000.00. | ||
Your Age on Date Disability Begins | Your Maximum Benefit Duration | ||
Under age 61 | To your normal retirement age*, but not less than 60 months | ||
Age 61 | To your normal retirement age*, but not less than 48 months | ||
Age 62 | To your normal retirement age*, but not less than 42 months | ||
Age 63 | To your normal retirement age*, but not less than 36 months | ||
Age 64 | To your normal retirement age*, but not less than 30 months |
Age 65 | 24 months | ||
Age 66 | 21 months | ||
Age 67 | 18 months | ||
Age 68 | 15 months | ||
Age 69 and over | 12 months | ||
*Your normal retirement age is your retirement age under the Social Security Act where retirement age depends on your year of birth. No contributions are required for your coverage while you are receiving payments under this plan. | |||
Cost of Coverage: | The long term disability plan is provided to you on a non-contributory basis. The entire cost of your coverage under the plan is being paid by your Employer. |