125 FLEXIBLE BENEFIT PLAN CONTRIBUTION Sample Clauses

125 FLEXIBLE BENEFIT PLAN CONTRIBUTION. The City shall make a monthly contribution to each eligible member of the unit to be used toward the § 125 Flexible Benefit Plan. These funds shall only be used for qualified benefits as provided for in 26 USC § 125. All excess benefit dollars shall be added to each employee’s taxable earnings. Discussion of new flexible benefits to be covered like Long Term Care and other possible options.
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125 FLEXIBLE BENEFIT PLAN CONTRIBUTION. 1. The City shall make a monthly contribution to each eligible member of the unit to be used toward the §125 Flexible Benefit Plan. These funds shall only be used for eligible plans as provided in 26 USCS §125. All excess benefit dollars shall be added to each employee’s taxable earnings. 2. All employees must enroll in one of the PERS health program plans, unless they: a. Submit to the City both proof of health coverage, and, b. Sign a health insurance waiver. c. Employees who fail to complete both requirements shall not be allowed to utilize their §125 Flexible Benefit Plan contributions for any other eligible plans. Employees who meet both requirements shall be allowed to utilize their §125 Flexible Benefit Plan contributions for any of the eligible plans as provided in 26 USCS § 125. 3. The definition of eligible employee for this article shall be as follows: a. Employees who regularly work 30 to 40 hours a week are defined as full-time employees. b. Employees who regularly work 20 to less than 30 hours a week are defined as part-time employees.
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125 FLEXIBLE BENEFIT PLAN CONTRIBUTION. 1. The City shall make a monthly contribution to each eligible member of the unit to be used toward the §125 Flexible Benefit Plan. These funds shall only be used for eligible plans as provided in 26 USCS §125. An administrative fee will be charged to employees who elect the out-of-pocket medical expense reimbursement. All excess benefit dollars shall be added to each employee’s taxable earnings. 2. All employees must enroll in one of the PERS health p rogram plans, unless they: A. Submit to the City both proof of health coverage, and, B. Sign a health insurance waiver. C. Employees who fail to complete both requirements shall not be allowed to utilize their §125 Flexible Benefit Plan contributions for any other eligible plans. Employees who meet both requirements shall be allowed to utilize their §125 Flexible Benefit Plan contributions for any of the eligible plans as provided in 26 USCS § 125. 3. The definition of eligible employee for this article shall be as follows: A. Employees who regularly work 30 to 40 hours a week are defined as full-time employees. B. Employees who regularly work 20 to less than 30 hours a week are defined as part-time employees.
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125 FLEXIBLE BENEFIT PLAN CONTRIBUTION 
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Related to 125 FLEXIBLE BENEFIT PLAN CONTRIBUTION

  • Cafeteria Plan As of the Distribution Date, Seaport Entertainment or any of its Subsidiaries shall establish or provide a cafeteria plan qualifying under Section 125 of the Code (the “Seaport Entertainment Cafeteria Plan”) allowing for the payment of welfare plan premiums on a pre-tax basis by Transferring Employees. As of January 1 of the calendar year following the calendar year in which the Distribution Date occurs, Seaport Entertainment or any of its Subsidiaries shall amend the Seaport Entertainment Cafeteria Plan to also provide for health care and dependent care flexible spending reimbursement accounts thereunder in which Transferring Employees who meet the eligibility criteria thereof may be immediately eligible to participate. From the Distribution Date until the end of the calendar year in which the Distribution Date occurs, each Transferring Employee who participated in health care or dependent care flexible spending reimbursement accounts under HHH’s cafeteria plan (the “HHH Cafeteria Plan”) immediately prior to the Effective Time will be permitted to continue participation in such flexible spending reimbursement accounts, and applicable elections and payroll deductions that were in effect immediately before the Effective Time will continue, during the Transferring Employee’s continued employment with the Seaport Entertainment Group on and after the Effective Time, with the amount of such payroll deductions transferred to HHH pursuant to the HHH Cafeteria Plan. As soon as practicable following the claim submission deadline under the HHH Cafeteria Plan for claims incurred in the calendar year in which the Distribution Date occurred, the HHH Group shall determine the aggregate accumulated contributions to the flexible spending reimbursement accounts under the HHH Cafeteria Plan made during such year by the Transferring Employees less the aggregate reimbursement payouts made for such year from such accounts to such Transferring Employees (the “Net FSA Balance”). If the Net FSA Balance is positive, the HHH Group shall pay to the Seaport Entertainment Group an amount in cash equal to the Net FSA Balance. From the Distribution Date until the end of the calendar year in which the Distribution Date occurs, HHH shall be solely responsible for all claims for reimbursement from the flexible spending reimbursement accounts incurred by the Transferring Employees during the calendar year that includes the Distribution Date and submitted to the HHH Cafeteria Plan by the Transferring Employee no later than the claim submission deadline with respect to such calendar year, whether such claims are incurred prior to, on or after the Distribution Date, which claims shall be paid pursuant to and under the terms of the HHH Cafeteria Plan.

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

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