Alternate Benefit Sample Clauses

Alternate Benefit. Eligible employees who provide proof of health insurance coverage from a source other than the City shall 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. Public Safety Officer Trainees shall be excluded from receiving an Alternate Benefit. City and XXXXXX agree to meet and xxxxxx regarding a revised Alternate Benefit program.
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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. ‌ 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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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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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.

  • Fringe Benefit The benefits provided by this Agreement are granted by the Employer as a fringe benefit to the Executive and are not a part of any salary reduction plan or any arrangement deferring a bonus or a salary increase. The Executive has no option to take any current payments or bonus in lieu of the benefits provided by this Agreement.

  • Public Benefit It is XR's understanding that the commitments it has agreed to herein, and actions to be taken by XR under this Settlement Agreement 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 XR that to the extent any other private party serves a notice and/or initiates an action alleging a violation of Proposition 65 with respect to XR's alleged failure to provide a warning concerning actual or alleged exposure to DEHP prior to use of the Covered 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 Covered Products addressed in this Settlement Agreement, provided that XR is in material compliance with this Settlement Agreement.

  • Death During Distribution of a Benefit If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived.

  • Retirement Benefit (i) In consideration of the Executive's past services to the Company, the Executive shall be entitled to a retirement benefit, payable monthly for his life, in an amount equal to 50 percent of his highest monthly Base Salary during the Employment Term. Such payments shall commence on the first day of the month coincident with or next following the later of the Executive's attainment of age 58 or the end of the Employment Term (the "Commencement Date"); provided, however, that if the Employment Term terminates prior to his attainment of age 58, the Executive may elect by written notice to the Company to have such payments commence on the first day of any month after such termination of employment (the "Early Commencement Date") in a monthly amount equal to the monthly amount that the Executive would have received at the Commencement Date, reduced by one-third of one percent (.33%) per month for each month by which the Early Commencement Date precedes the Commencement Date. The amount of each payment hereunder shall be increased on each January 1 following the Early Commencement Date or Commencement Date, as applicable, by an amount determined by multiplying the amount of each monthly payment made in the preceding year by the percentage increase, if any, in the cost of living from the preceding January 1, as reflected by the Consumer Price Index. The Executive's election to have his retirement benefit payments commence on the Early Commencement Date shall not affect the Company's obligation to pay consulting fees to the Executive in accordance with Section 4 hereof. The retirement benefit shall be an unconditional, but unsecured, general credit obligation of the Company to the Executive, and nothing contained in this Agreement, and no action taken pursuant to it, shall create or be construed to create a trust of any kind between the Company and the Executive. The Executive shall have no right, title or interest whatever in or to any investments which the Company may make (including, but not limited to, an insurance policy on the life of the Executive) to aid it in meeting its obligations hereunder. (ii) From time to time, the Company shall make such contributions to the trust established under the Trust Agreement dated as of December 18, 1986 (the "1986 Trust") between the Company, as grantor, and Wixxxxx X. Xxxxxxxx, as successor trustee, to provide a sufficient reserve for the discharge of its obligation to pay the retirement benefit to the Executive as provided in clause (i) of this Section 3(c) and clauses (ii) and (iii) of Section 5(a) hereof.

  • 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.

  • Regular Benefits The Executive shall also be entitled to participate in any and all employee benefit plans, medical insurance plans, life insurance plans, disability income plans, retirement plans, bonus incentive plans and other benefit plans from time to time in effect for senior executives of the Employer. Such participation shall be subject to (i) the terms of the applicable plan documents, (ii) generally applicable policies of the Employer and (iii) the discretion of the Board of Directors of the Employer or any administrative or other committee provided for in or contemplated by such plan.

  • 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.

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

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