Common use of BENEFIT BANK Clause in Contracts

BENEFIT BANK. Employees are provided with a Benefit Bank for the purchase of medical, dental and/or vision insurance for themselves and their eligible dependents. The Benefit Bank for the term of this agreement is as follows: v December 1, 2019: $1,445 per month (increase of $50 per month) v December 1, 2020: $1,495 per month (increase of $50 per month) v December 1, 2021: $1,545 per month (increase of $50 per month) v December 1, 2022: $1,595 per month (increase of $50 per month) Unused portions of the Benefit Bank, up to a maximum of $1,195 per month, may be deposited in the employee’s deferred compensation account and/or paid out in the employee’s regular paychecks as earned. Effective July 1, 2019, in compliance with IRS Code Section 125, contributions to the employee’s deferred compensation account from unused portions of the Benefit Bank will be considered an employee contribution rather than an employer contribution. For employees hired after the date of approval of this MOU, the unused portion maximum will be limited to $600. The benefit bank allowance will be included in calculating the regular rate of pay for the purpose of determining the overtime rate of pay.

BENEFIT BANK. Employees are provided with a Benefit Bank for the purchase of medical, dental dental, and/or vision insurance for themselves and their eligible dependents. The Benefit Bank for the term of this agreement is as follows: v December 1, 2019: $1,445 per month (increase of $50 per month) v December 1, 2020: $1,495 per month (increase of $50 per month) v December 1, 2021: $1,545 per month (increase of $50 per month) v December 1, 2022: $1,595 per month (increase of $50 per month) Unused portions of the Benefit Bank, up to a maximum of $1,195 per month, may be deposited in the employee’s deferred compensation account and/or paid out in the employee’s regular paychecks as earned. Effective July 1, 2019, in compliance with IRS Code Section 125, contributions to the employee’s deferred compensation account from unused portions of the Benefit Bank will be considered an employee contribution rather than an employer contribution. For employees hired after the date of approval of this MOU, the unused portion maximum will be limited to $600. The benefit bank allowance will be included in calculating the regular rate of pay for the purpose of determining the overtime rate of pay.

BENEFIT BANK. Employees are provided with a Benefit Bank for the purchase of medical, dental and/or vision insurance for themselves and their eligible dependents. The Benefit Bank for the term of this agreement is as follows: v ❖ December 1, 2019: $1,445 per month (increase of $50 per month) v ❖ December 1, 2020: $1,495 per month (increase of $50 per month) v ❖ December 1, 2021: $1,545 per month (increase of $50 per month) v ❖ December 1, 2022: $1,595 per month (increase of $50 per month) Unused portions of the Benefit Bank, up to a maximum of $1,195 per month, may be deposited in the employee’s deferred compensation account and/or paid out in the employee’s regular paychecks as earned. Effective July 1, 2019, in compliance with IRS Code Section 125, contributions to the employee’s deferred compensation account from unused portions of the Benefit Bank will be considered an employee contribution rather than an employer contribution. For employees hired after the date of approval of this MOU, the unused portion maximum will be limited to $600. The benefit bank allowance will be included in calculating the regular rate of pay for the purpose of determining the overtime rate of pay.

BENEFIT BANK. Employees are provided with a Benefit Bank for the purchase of medical, dental dental, and/or vision insurance for themselves and their eligible dependents. The Benefit Bank for the term of this agreement is as follows: v ❖ December 1, 2019: $1,445 per month (increase of $50 per month) v ❖ December 1, 2020: $1,495 per month (increase of $50 per month) v ❖ December 1, 2021: $1,545 per month (increase of $50 per month) v ❖ December 1, 2022: $1,595 per month (increase of $50 per month) Unused portions of the Benefit Bank, up to a maximum of $1,195 per month, may be deposited in the employee’s deferred compensation account and/or paid out in the employee’s regular paychecks as earned. Effective July 1, 2019, in compliance with IRS Code Section 125, contributions to the employee’s deferred compensation account from unused portions of the Benefit Bank will be considered an employee contribution rather than an employer contribution. For employees hired after the date of approval of this MOU, the unused portion maximum will be limited to $600. The benefit bank allowance will be included in calculating the regular rate of pay for the purpose of determining the overtime rate of pay.