BENEFITS CAP. In the event that the benefits under this Agreement, when aggregated with any other payments or benefits received by the Employee, or to be received by the Employee, would (i) constitute "parachute payments" within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the "Code"), and (ii) but for this provision, would be subject to the excise tax imposed by Section 4999 of the Code or any similar or successor provision, then the Employee's benefits shall be reduced to such lesser amount or degree as would result in no portion of such benefits being subject to the excise tax under Section 4999 of the Code.
BENEFITS CAP. The District shall make an annual contribution paid on a tenthly basis toward the payment of eligible unit members’ health and welfare benefit premiums (excluding vision, dental, disability income protection, and life) as stated below: For 2019
a. Single up to $7,870.00 b. 2 Party up to $15,530.00 c. Family up to $17,634.80 Members who choose a medical plan more expensive than the employer contribution are responsible for the out-of-pocket difference. For each year that follows, the District’s annual contribution for single and 2- party benefits shall increase to meet that year’s cost for medical benefits, not to exceed the maximum contribution cap of $17,634.80. The employee shall authorize payroll deductions in the necessary amounts to cover excess cost beyond the District’s contribution.
BENEFITS CAP. In the event that the benefits under this Agreement, when aggregated with any other payments or benefits received by the Employee, or to be received by the Employee, would (i) constitute "parachute payments" within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the "Code"), and (ii) but for this provision, would be subject to the excise tax imposed by Section 4999 of the Code or any similar or successor provision (the "Excise Tax"), then the Employee's benefits shall be either delivered in full or delivered to such lesser amount or degree as would result in no portion of such benefits being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the Excise Tax, results in the receipt by the Employee on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be subject to the Excise Tax.
BENEFITS CAP. Effective January 1, 2015, the District shall make an annual contribution paid on a tenthly basis toward the payment of eligible unit members’ health and welfare benefit premiums (excluding vision, dental, disability income protection, and life) as stated below: For 2015, UHC HMO Network 1
a. Single up to $6,898,90 b. 2 Party up to $13,635.20 c. Family up to $17,134.80 Members who choose a plan more expensive than the UHC HMO Network 1 are responsible for the out-of-pocket difference. For each year that follows, the District’s annual contribution for single and 2- party benefits shall increase to meet that year’s cost for UHC HMO Network 1, not to exceed the maximum contribution cap of $17,134.80. The employee shall authorize payroll deductions in the necessary amounts to cover excess cost beyond the District’s contribution.
BENEFITS CAP. The District shall make an annual contribution paid on a tenthly basis toward the payment of eligible unit members’ health and welfare benefit premiums (excluding vision, dental, disability income protection, and life) as stated below: Members who choose a medical plan more expensive than the employer contribution are responsible for the out-of-pocket difference. The District’s annual contribution for single, 2-party, and family benefits shall not exceed the maximum contribution cap of $17,634.80. Unit members will not be credited for any difference between the cost of their plan and the amount of the District’s contribution. The employee shall authorize payroll deductions in the necessary amounts to cover excess cost beyond the District’s contribution.
