The insurance benefit is sixty percent (60%) of the first $5,000 of base monthly salary. In no event will the total monthly income benefit from all sources exceed $5,000. Any retirement income, social security income of the employee and the employee's spouse and dependents, or income from Worker's Compensation is deducted from security income, or income from Worker's Compensation is deducted from the long term disability income with a minimum payment of fifty dollars ($50.00) per month guaranteed by the Long Term Disability Insurance in addition to other payments. Benefits are paid as provided in the insurance policy. The insurance company will provide the monthly benefit in accordance with the terms and conditions of the University's master policy, after an elimination period of six (6) months (approximately equivalent to the one hundred thirty-two (132) sick leave days which may accrue to the employee under the provisions of the University's sick leave plan).
During the period of disability, the insurance company will contribute to a retirement annuity for the disabled employee, as stated in the master policy.
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