Benefit Option Sample Clauses

Benefit Option. Licensed professionals who are granted an unpaid leave of absence may request continued insurance coverage. Such coverage shall be subject to the provisions of the Consolidated Omnibus Budget Reconciliation Act (COBRA). Licensed professionals who qualify for COBRA continuation insurance coverage shall be responsible for the full cost of such coverage, as determined by the insurance provider. As an exception, for licensed professionals, who have worked for the district less than 180 calendar days and who are on unpaid parental leave of twelve (12) weeks or less duration in any twelve (12) month period, the district will pay the insurance premium for medical coverage from the date the leave commenced.
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Benefit Option. Pursuant to Article 6.23, Faculty have the option to resign or retire. Such a choice may be more beneficial to the Faculty in the form of terminal leave payout and shall be made within twenty-five (25) months from the date of layoff. Faculty who select this option are not subject to recall.
Sample 1

Related to Benefit Option

  • Benefit Options Employees must elect a plan administrator and primary care clinic. Those elections will determine the Benefit Level through Advantage. Enrolled dependents must elect a primary care clinic that is available through the plan administrator chosen by the employee.

  • Retirement Options The Xxxxxxx Community College Board of Trustees may at its discretion grant one of the following retirement incentive plans to eligible faculty. The unit member must elect and may participate in only one of the three following retirement plans:

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Employment Option If the State determines that it would be in the State’s best interest to hire an employee of the Contractor, the Contractor will release the selected employee from any non-competition agreements that may be in effect. This release will be at no cost to the State or the employee.

  • Severance and Retirement Options (a) (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars.

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