Common use of Alternative Benefit Plan Clause in Contracts

Alternative Benefit Plan. Any employee who does not chose to receive medical coverage from the District and provides proof of coverage elsewhere, shall be eligible to receive $150.00 per month for ten (10) months annually. The amount shall be placed in a District approved Tax Sheltered Annuity plan. Part time employees shall be eligible to elect this Alternative Benefit prorated on the same basis as his/her salary pro-ration.