Alternate Benefit Sample Clauses

Alternate Benefit. Eligible employees who provide proof of health insurance coverage from a source other than the City may receive an alternate benefit of $350.00 per month. This benefit shall be provided as outlined in City Council Resolution No. 2007-178, adopted October 23, 2007.
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Alternate Benefit. A. An alternative benefit in the form of a cash payment is available to those full-time employees in regular or probationary status who: (1) elect to opt out of receiving City contributions under Section 6.01, Medical Insurance, and 6.02, Flexible Benefits Allowance, and (2) provide proof of medical insurance coverage. Any cash payment provided under this Section shall be reported to the Internal Revenue Service (IRS) and the California Franchise Tax Board as compensation subject to income tax withholding. Each employee shall be solely and personally responsible for any tax liability that may arise out of receipt of the alternative benefits provided under this Section. The amount of alternative benefit provided to an employee is based on the level of insurance coverage that the employee could have received if the employee had enrolled in a City-sponsored health insurance plan, as follows: Employee only $210.00 per month Employee plus one (1) dependent $380.00 per month Employee and two plus (2+) dependents $500.00 per month For the purpose of this Section, the term "dependent'' shall mean a dependent eligible for coverage under a PERS medical insurance plan if such coverage had otherwise been elected by the employee. B. A full-time employee who does not receive a City contribution under Section 6.01, Medical Insurance, and 6.02, Flexible Benefits Allowance, and who is enrolled in a City-sponsored health insurance plan as the dependent of another City employee may be eligible to receive an alternative benefit as provided in this Subsection. If the cost to the City of providing an employee with benefits as the dependent of another is less than the cost of enrolling the employee separately in a City-sponsored health insurance plan, then the individual enrolled as a dependent may receive an alternative benefit. The amount of any alternative benefit shall be equal to the amount of savings to the City for enrollment of the employee as a dependent, up to a maximum alternative benefit of $150 per month. The following examples illustrate how alternative benefits will be provided to employees who are enrolled as a dependent in a City-sponsored health insurance plan. For purpose of these examples, assume the following amounts as the City’s total costs towards providing benefits under Section 6.01, Medical Insurance, and 6.02, Flexible Benefits Allowance: Employee only - total cost of $500 per month Employee and one (1) dependent – total cost of $1,000 per month Emplo...
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Alternate Benefit. An employee eligible for PEMHCA who opts to waive participation because the employee has health plan coverage as a result of being an eligible dependent can waive his/her participation in the City’s medical plan and elect the City’s alternate benefit. To participate in this program, the employee shall sign a waiver, provided by the City, of health plan coverage and shall provide proof of health plan coverage for him/herself which shall be confirmed annually before January 1 of each year. Proof of other coverage must show that the employee and all individuals in the employee’s expected tax return have (or will have) minimum essential coverage. Employees who elect the “alternate benefit” shall receive “elective paid leave” as follows: • Each month, the employee will be credited with the number of hours of elective paid leave equivalent to the single rate for the Kaiser Region 1 PEMHCA plan rounded to the nearest dollar; ▪ For example: If the Kaiser Region 1 PEMHCA single party rate is $750 and the employee’s hourly rate is $25/hour, the employee will be credited with 30 hours per month of elective paid leave. • Elective paid leave may be used as normal discretionary leave – however, all other discretionary leave (i.e., vacation and compensatory time off) must be used first; • All accrued but unused elective paid leave will be paid out in the calendar year in which it is earned ▪ Each quarter, the City will cash out all accrued but unused elective paid leave at the rate at which it was earned (in the example above, payout would be at $25/hour), as follows: o January, February, and March leave balances will be cashed out the last pay day in March. o April, Xxx, and Xxxx leave balances will be cashed out the last pay day in June. o July, August, and September leave balances will be cashed out the last pay day in September. • Any accrued but unused elective paid leave remaining at the end of the calendar year will be paid out at the rate it was earned in the last pay period of the calendar year.
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Alternate Benefit the least expensive treatment, as determined by HDS, when a medical condition has multiple treatments that could be used to treat the condition.
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Alternate Benefit. ‌ 1. The employee must provide proof of and attest to having minimum essential coverage as defined by the Internal Revenue Service (IRS) through another group health plan (or other plan deemed acceptable by the IRS) for the employee and for all individuals for whom the employee reasonably expects to claim a personal exemption deduction for the taxable plan year to which the opt out payment applies; 2. The employee must provide the City with proof of and attestation to coverage every plan year. Such proof and attestation must be provided at the time the employee first wishes to opt out of City-provided medical insurance, and during Open Enrollment each year thereafter, so long as the employee wishes to continue to opt out of City provided medical coverage. This alternate benefit shall be provided as a contribution to the employee’s deferred compensation account or for the purchase of supplemental life insurance and/or any other eligible benefit program approved and authorized by the City. The alternate benefit program meets all requirements for exclusion from “regular rate” calculations.
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Alternate Benefit. An employee who is eligible for PERS Health and who also has health plan coverage as a result of being an eligible dependent can waive his/her participation in the City’s medical plan and elect the City’s alternate benefit. Such benefit shall consist of a contribution to the employee’s deferred compensation account equivalent to the employee-only Kaiser PERS rate. To participate in this program, the employee shall sign a waiver opting out of PERS Health and shall provide proof of alternate health plan coverage and confirm such proof no later than January 1 of each year.
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Alternate Benefit. With respect to any state in which Supplementation is not permitted, the parties shall endeavor to negotiate an agreement establishing a plan for Alternate Benefits not inconsistent with the purposes of the Plan. Any agreement so reached shall not apply to an Employee who is ineligible to receive a State System Benefit only for one or more of the reasons stated in Section 1(b) of Article I of the Plan. Such Employee, if otherwise eligible, may apply for and receive a Regular Benefit or Transition Support Program Benefit under the Plan. Automatic Short Week Benefits will be payable to eligible Employees in such state.
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Related to Alternate Benefit

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Public Benefit It is Reaction Retail’s understanding that the commitments it has agreed to herein, and actions to be taken by Reaction Retail under this Settlement Agreement, would confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of Reaction Retail that to the extent any other private party initiates an action alleging a violation of Proposition 65 with respect to Reaction Retail’s failure to provide a warning concerning exposure to DEHP prior to use of the Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Products addressed in this Settlement Agreement, provided that Reaction Retail is in material compliance with this Settlement Agreement.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • One Benefit Only Despite anything to the contrary in this Agreement, the Executive and Beneficiary are entitled to one benefit only under this Agreement, which shall be determined by the first event to occur that is dealt with by this Agreement. Except as provided in section 2.5 or Article 3, subsequent occurrence of events dealt with by this Agreement shall not entitle the Executive or Beneficiary to other or additional benefits under this Agreement.

  • Compensation/Benefit Programs During the Term of Employment, the Executive shall be entitled to participate in all medical, dental, hospitalization, accidental death and dismemberment, disability, travel and life insurance plans, and any and all other plans as are presently and hereinafter offered by the Company to its executive personnel, including savings, pension, profit-sharing and deferred compensation plans, subject to the general eligibility and participation provisions set forth in such plans.

  • Economic Benefit The Bank shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. § 1.61-22(d)(3)(ii) or any subsequent authority.

  • Elective Deferrals (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.

  • Exclusive Benefit The foregoing conditions are for the exclusive benefit of the Vendor and any such condition may be waived in whole or in part by the Vendor delivering to the Purchaser a written waiver to that effect signed by the Vendor.

  • How We Calculate Benefits Under These Rules When this plan is secondary, it may reduce its benefits so that the total benefits paid or provided by all plans are not more than the total allowable expenses. In determining the amount to be paid for any claim, the secondary plan will calculate the benefits it would have paid in the absence of other healthcare coverage and apply that calculated amount to any allowable expense under its plan that is unpaid by the primary plan. The secondary plan may then reduce its payment by the amount so that, when combined with the amount paid by the primary plan, the total benefits paid or provided by all plans for the claim do not exceed the total allowable expense for that claim. In addition, the secondary plan shall credit to its plan deductible any amounts it would have credited to its deductible in the absence of other healthcare coverage.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)

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