Benefit Trust Fund Option Sample Clauses

Benefit Trust Fund Option. On condition that the Cheektowaga Central Teacher’s Association (“CCTA”) continues to administer the Cheektowaga Central Teachers Association Benefit Trust Fund (hereinafter, “Benefit Trust Fund”), which was created in 1994 for the purpose of providing dental and other non-health related benefits to members of that Association, and upon the further condition that the CCTA continues to accept and include ASU members as Fund beneficiaries, each full-time ASU member shall have the option of enrolling or continuing their participation in the Benefit Trust Fund. For each eligible ASU member who opts to participate in the Benefit Trust Fund, the Board shall pay the following monthly contributions while this Agreement is in effect and for so long as the ASU member remains a Full-Time Employee: 2013-2014 $47 $26 2014-2015 $47 $26 2015-2116 $47 $26 ASU members agree and understand that the foregoing contributions by the Board are not sufficient to cover the total cost of their participation in the Benefit Trust Fund, and each participating ASU member is required to pay the difference through appropriate payroll deductions. By enrolling or continuing their participation in the Fund, each eligible ASU member authorizes the Board to make necessary deductions from his or her payroll checks. The Board’s only responsibility with respect to the Benefit Trust Fund shall be to issue payment of the contractually required employer contribution, according to the above schedule, and to process appropriate payroll deductions for each eligible ASU member who participates in the Benefit Trust Fund. The ASU and its members will hold the Board harmless from any and all claims resulting from the management and/or solvency of the Benefit Trust Fund or the monies paid to such Fund. Consequently, the parties agree and understand that the Board has no duty to compensate any person who may suffer or claim to suffer financial loss and/or a loss or reduction of benefits arising from any changes affecting the Benefit Trust Fund.
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Related to Benefit Trust Fund Option

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • 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.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • 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.

  • SIMPLE Individual Retirement Custodial Account (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement:

  • Retirement Credit Retirement credit for such periods of leave without pay shall be governed by the rules and regulations of the Division of Retirement and the provisions of Chapter 121, Florida Statutes.

  • Xxxx Individual Retirement Custodial Account The following constitutes an agreement establishing a Xxxx XXX (under Section 408A of the Internal Revenue Code) between the depositor and the Custodian.

  • Matching Funds The Recipient shall, at a minimum, contribute not less than twenty-five percent (25%) of the total Cost of Project as set forth in Appendix D of this Agreement. The Matching Funds shall be for the sole and express purpose of paying or reimbursing the costs certified to the OPWC under this Agreement. In the event that the total actual Project costs exceed the estimated Cost of Project identified in Appendix D, the OPWC shall not be required to increase the maximum amount of the grant provided herein and the Recipient shall increase its Matching Funds to meet such actual Cost of Project.

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