Benefits Provided. Those eligible for benefits shall, upon retirement of the professor, continue to receive and have access to any group hospital and medical benefits as provided to active full-time professors by the third party health and welfare administrator, except for the inclusion of the comprehensive changes in health insurance carriers and benefit plans that might result from future negotiations or agreements between parties and except as noted in 8.E.3. below.
Benefits Provided a. STD is a supplemental wage replacement benefit provided to the employee in the event of total and continuous disability up to approximately sixty-six and two-thirds (66-2/3) of their normal gross earnings when integrated with state and/or federal wage replacement programs.
b. STD benefits may include salary continuance for employees who are temporarily and partially disabled. The benefit is integrated with any state and/or federal wage replacement programs and any pay received from light duty work.
c. Employees can elect (on the Request for Leave of Absence form) whether to use accrued PTO to cover any applicable elimination period and to integrate PTO with other wage replacement benefits if the leave is covered under FMLA/CFRA, PDL, or Military Leave. If the employee does not affirmatively decline using PTO, the Medical Center shall integrate accrued PTO with all applicable forms of wage replacement. If the leave is not covered by FMLA/CFRA, PDL, or Military Leave, the Medial Center requires the use of accrued PTO.
d. PTO may also be used to supplement state and/or federal wage replacement programs and STD to provide income up to approximately one hundred percent (100%) of gross pay based upon FTE status. Payroll will automatically integrate PTO with the above benefits if the employee does not specifically designate on the Leave of Absence Request Form to not integrate PTO.
Benefits Provided. The District shall provide all eligible unit members and their dependents with medical, dental, and vision. The District shall also provide life insurance and long-term disability plans to all eligible unit members. SEIU and the District agree to meet regarding cost containment of benefits. In addition, the District shall provide a pre-tax salary deduction program (IRS-125 Plan) subject to IRS approval for the purpose of: Part One, paying for dependent care; Part Two, health plan premiums and Part Three, other approved health-related expenses. Subject to IRS approval, the maximum amount that an employee may have deducted for Part One is $5,000 in the plan year, and Part Three shall be limited to $3,000 for the plan year though the amounts shown are subject to change pursuant to the Health Care Reform Act of 2009. The District shall provide all unit members with a minimum thirty (30) day notice of the annual application deadline for these pre-tax salary deduction programs. This notice shall be provided via U.S. mail. Medical Coverage: The District and SEIU Local 1021 agree to health and benefit plans effective October 1, 2012 that will be revised as follows:
Benefits Provided. Those eligible for benefits shall, upon retirement of the unit member, continue to receive group hospital and medical benefits as provided, except for the inclusion of the comprehensive changes in health insurance carriers and benefit plans that might result from future negotiations or agreements between parties and except as noted in 8.E.3. below.
Benefits Provided. The District shall maintain the benefits program (in terms of service levels) in place as of January 1, 2001, and shall continue to pay the full cost of benefits for each probationary and permanent classified employee whose regular assignment is at least twenty (20) hours per week and their spouse, domestic partner (as defined in Appendix D – Spouses and Domestic Partnership), and other eligible dependents. These benefit programs include medical, dental, vision, long-term care, life insurance and long-term disability. Any increases in costs to maintain the current level of service shall be borne by the District for the duration of the Agreement. The parties agree to work collaboratively to control future health care costs and consider plan changes that are necessary to control health care costs.
13.1.1 Employees who currently have duplicate coverage from another non-District employer and have currently chosen to opt-out of District health coverage in exchange for a stipend of $2,400 annually may continue to opt-out and receive this stipend (grandfathered). This opt-out provision is no longer provided to other employees of the District. This opt-out provision is also not provided to those employees who are currently grandfathered, but who later opt-in and accept the District’s health coverage after May 30, 2017. All active employees otherwise not grandfathered by this article are required to participate in the medical plan.
Benefits Provided. The Company shall provide the following payments and benefits to the Employee upon termination of employment in accordance with Section 3(a):
(i) A cash payment in a lump sum (less any withholding taxes) equal to 24 months of base salary (as in effect immediately prior to the termination); and
(ii) A cash payment in a lump sum (less any withholding taxes) equal to the Employee’s annual target incentive bonus (as in effect immediately prior to the termination) which is currently 200% of 12 months of base salary; and
(iii) If the Employee, and any spouse and/or dependents of the Employee (“Family Members”) has coverage on the date of the Employee’s employment termination under a group health plan sponsored by the Company, the Company will reimburse the Employee the total applicable premium cost for continued group health plan coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for a period of twelve (12) months following the Employee’s employment termination, provided that the Employee validly elects and is eligible to continue coverage under COBRA for the Employee and his Family Members. However, if the Company determines in its sole discretion that it cannot provide the COBRA reimbursement benefits without potentially violating applicable laws (including, without limitation, Section 2716 of the Public Health Service Act and the Employee Retirement Income Security Act of 1974, as amended), the Company will in lieu thereof provide to the Employee a monthly payment in an amount equal to the monthly COBRA premium (on an after-tax basis) that the Employee would be required to pay to continue the group health coverage in effect on the date of the Employee’s termination of employment (which amount will be based on the premium for the first month of COBRA Xxxxxx xxxxxxxxx agmt May 26, 2023 coverage) for such twelve-month period, which payments will be made regardless of whether the Employee elects COBRA continuation coverage; and
(iv) Notwithstanding anything to the contrary in any plan, agreement, or arrangement governing an Equity Award, (a) for each Equity Award subject only to time-based vesting, the vesting will be accelerated as if Employee had remained employed through the date 18 months following the termination of employment date, (b) for each Equity Award subject to performance-based vesting to the extent performance measurement has been completed and shares based on that performance will vest thereafter solely...
Benefits Provided. The Board shall provide all unit members and their dependents with a health insurance plan. Benefits and coverage will be determined by the Insurance Committee and will include:
7.3.1.1 Major medical benefits at no less than $2,000,000.00 or as determined by the Insurance Committee.
7.3.1.2 Prescription coverage as determined by the Insurance Committee.
7.3.1.3 Maternity coverage as determined by the Insurance Committee.
7.3.1.4 Psychiatric care as determined by the Insurance Committee.
7.3.1.5 Chiropractic services as determined by the Insurance Committee.
Benefits Provided. The CCMC Plan provides for retirement and death benefits. Retirement benefits are determined based upon varying formulas dependent on years of service. All employees of the employer were eligible to participate in the CCMC Plan as of the first day of the month coincident with or next following the date on which they completed one year of vesting service. All other employees became participants as of the first day of the month coincident with or next following the completion of one year of service during which they accumulated at least 1,000 hours of service. No new participants entered after September 30, 1995, unless they had previously been participants before September 30, 1995. The accrued benefit is calculated using the formula for the normal retirement benefit, based upon the average monthly compensation and years of benefit service as of the date of the calculation. The accrued benefit is payable at the normal retirement date in the normal form of payment. Accrued benefits were frozen as of September 30, 1995. The normal retirement benefit is calculated by taking 2% of the average monthly compensation multiplied by years of benefit service up to a maximum of 20 years. Benefit terms also provide for annual cost-of-living adjustments to retired participants based upon the Secretary of the Treasury for cost-of-living increases.
Benefits Provided. The RHI Plan provides for a $2,500 per-retiree benefit to be paid on an annual basis. The RHI Plan also sets forth an increase of 2% per year after retirement. To be eligible for benefits, an employee must meet one of four eligibility requirements. The first is to retire after attaining age 65 with 20 years of continuous full-time (or equivalent) service and retire after January 1, 2009. The second is to be age 63 or older on May 1, 1993 and retire after attaining age 65 with 20 years of full-time (or equivalent) service. The third is to become disabled with 20 years continuous full-time (or equivalent) service, before attaining age 65. Last, an employee would need to have 30 or more years of full-time (or equivalent) service on September 30, 2009. Part-time services count as ½ of full-time service. Temporary or PRN service is not eligible. The Systems funding policy is to fund on a pay-as-you-go basis so there are no contributions.
Benefits Provided. If you are automatically entitled to the Benefits in accordance with, and pursuant to, paragraphs 1, 2, 3 hereinabove, FNTN or the surviving entity resulting from the change of control of FNTN upon the Effective Date agrees to pay to you, and extend the following Benefits as the case may be:
(a) A Lump Sum amount equal to your annual employment compensation pro-rated for the period remaining of your current employment agreement, providing that the employment agreement had not been previously terminated for cause by the FNTN prior to the Effective Date; plus
(b) A lump sum of two (2) times or your annual compensation averaged over the most recent two (2) year calendar years ending coincident with or immediately before the Effective Date
(c) Any Options granted to you as compensation under the terms of paragraph 3 (c) of your current employment agreement shall be automatically amended to provide the following amendments of the option terms and conditions:
(i) the options granted will expire upon the one thousand eight hundred and twenty fifth (1,825) day following the grant date: and
(ii) the options may be encumbered, sold, transferred or other wise be disposed of without any restrictions whatsoever and shall not be considered being issued to you as solely for your personal exercise.