CAFETERIA BENEFIT PLAN. A. Employees in the Bargaining Unit shall be provided with a Cafeteria Plan which will be administered by the City pursuant to Section 125 of the Internal Revenue Code. B. Employees have the choice of applying Cafeteria Plan dollars to purchase health, vision, and dental benefits provided through City plans. The amount each employee receives will vary depending on the coverage for which the employee qualifies, and the number of dependents covered. The employee may also choose to opt out of the Cafeteria Plan as outlined in Section D. C. The City’s contribution to the Cafeteria Plan for each employee of the Bargaining Unit, from June 1, 2021, to May 31, 2022, shall remain one thousand three hundred dollars ($1,300). As of June 1, 2022, the City’s contribution to the Cafeteria Plan for each employee of the Bargaining Unit will be one thousand five hundred and fifty dollars ($1,550) per month to go towards the employee’s contributions for Health, Vision, and Dental insurance premiums. D. Employees may opt to receive up to one hundred percent (100%) of the City’s contribution which is not utilized to purchase any of the benefits through the City. An employee must provide the City with written notice/waiver of paid health insurance payments for which the employee is eligible. Then the employee shall receive any unused amount of the City’s contribution to the Cafeteria Plan as taxable cash or have said amount placed into a deferred compensation plan. Effective July 1, 2018 if newly hired employees do not utilize the Cafeteria allowance for medical insurance, there shall be no cash back to the employee. These newly hired employees shall also be limited to a $100 twice a month (24 times per year) opt-out allowance for not using the City medical insurance. Employees not exhausting the allowance for medical insurance premiums will not receive a cashback difference.
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Samples: Memorandum of Understanding
CAFETERIA BENEFIT PLAN. A. Employees in the Bargaining Unit shall be provided with a Cafeteria Plan which will be administered by the City pursuant to Section 125 of the Internal Revenue Code.
B. Employees have the choice of applying Cafeteria Plan dollars to purchase healthmedical, vision, and dental benefits insurance (collectively “health insurance”) provided through City plans. The amount each employee receives will vary depending on the coverage for which the employee qualifies, and the number of dependents covered. The employee may also choose to opt out of the Cafeteria Plan as outlined in Section D.D. The City will contribute the minimum contribution required pursuant to Government Code §22892(b) (“minimum contribution”) per month per employee for health insurance. Increases to cafeteria dollars will become effective the month following the ratification of the MOU.
C. The City’s contribution to the Cafeteria Plan for each employee of the Bargaining Unit, from June 1, 2021, to May 31, 2022, shall remain one thousand three hundred dollars ($1,300). As of June 1, 2022, the City’s contribution to the Cafeteria Plan for each employee of the Bargaining Unit will be one thousand five eight hundred and fifty dollars ($1,5501,800) per month to go towards the employee’s contributions for HealthMedical, Vision, and Dental insurance premiums.
D. Employees Those employees hired before July 1, 2018, may opt to receive up to one hundred percent (100%) of the City’s contribution which is not utilized to purchase any of the benefits through the City. An employee must provide the City with written notice/waiver of paid health insurance payments for which the employee is eligible. Then the employee shall receive any unused amount of the City’s contribution to the Cafeteria Plan as taxable cash or have said amount placed into a deferred compensation plan. Effective For those employees hired on or after July 1, 2018 if newly hired employees 2018, who do not utilize the Cafeteria allowance for medical insurance, there shall be no cash back to the employee. These newly hired employees shall also be limited to a $100 twice a month (24 times per year) opt-out allowance for not using the City medical insurance. Employees not exhausting the allowance for medical insurance premiums will not receive a cashback difference.
Appears in 1 contract
Samples: Memorandum of Understanding
CAFETERIA BENEFIT PLAN. A. Employees in the Bargaining Unit shall be provided with a Cafeteria Plan which will be administered by the City pursuant to Section 125 of the Internal Revenue Code.
B. The Cafeteria Plan is designed to give employees the flexibility to choose various benefits. The cafeteria plan gives employees a set dollar amount in which the employee may access any amount up to the maximum City contribution which is outlined in Section C. Employees have the choice of applying Cafeteria Plan dollars to purchase health, vision, and dental benefits provided through City plans. The amount each employee receives will vary depending on the coverage for which the employee qualifies, and the number of dependents covered. The employee may also choose to opt the opt-out provision of the Cafeteria Plan cafeteria plan as outlined in Section D.
C. The City’s contribution to the Cafeteria Plan for each employee of the Bargaining Unit, from June July 1, 2021, to May 31, 2022, shall remain one thousand three four hundred dollars ($1,3001,400). As of June 1, 2022, 2022 the City’s contribution to the Cafeteria Plan for each employee of the Bargaining Unit will be one thousand five hundred and fifty dollars ($1,550) per month to go towards the employee’s contributions for Healthhealth, Visionvision, and Dental dental insurance premiums.
D. Employees may opt Opt-out provision - will enable an employee to receive up to one hundred percent (100%) $1250 of the City’s contribution which is not utilized to purchase any the cafeteria plan. All new hires on or after November 15, 2018 electing to opt out of the benefits through city’s cafeteria plan for health, vision and dental insurance premiums shall be limited to a $100 per pay period (24 times per 12-month period) “opt out” allowance for not using City medical insurance. Employees not exhausting the Cityallowance for medical insurance premiums ($1,550) will not receive a cash back difference. An employee must provide the City with written notice/waiver of paid group health insurance payments premiums for which the employee is eligible. Then Then, the employee shall receive any unused amount be provided up to 100% of the City’s City contribution to the Cafeteria Plan as which may be taxable cash compensation or have said amount be placed into a deferred compensation plan. Effective July 1, 2018 if newly hired employees do not utilize the Cafeteria allowance for medical insurance, there shall be no cash back Documentation is required to the employee. These newly hired employees shall also be limited to a $100 twice a month (24 times per year) opt-out allowance for not using the City medical insurance. Employees not exhausting the allowance for medical verify that insurance premiums will not receive a cashback differenceis established.
Appears in 1 contract
Samples: Memorandum of Understanding
CAFETERIA BENEFIT PLAN. A. Employees in the Bargaining Unit shall be provided with a Cafeteria Plan which will be administered by the City pursuant to Section 125 of the Internal Revenue Code.
B. Employees have the choice of applying Cafeteria Plan dollars to purchase health, vision, and dental benefits provided through City plans. The amount each employee receives will vary depending on the coverage for which the employee qualifies, and the number of dependents covered. The employee may also choose to opt out of the Cafeteria Plan as outlined in Section D.
C. The City’s contribution to the Cafeteria Plan for each employee of the Bargaining Unit, from June 1, 2021, to May 31, 2022, shall remain Unit will be one thousand three hundred dollars ($1,300). As of June 1, 2022, the City’s contribution to the Cafeteria Plan for each employee of the Bargaining Unit will be one thousand five hundred and fifty dollars ($1,550) per month to go towards the employee’s contributions for Health, Vision, and Dental insurance premiums.
D. Employees may opt to receive up to one hundred percent (100%) of the City’s contribution which is not utilized to purchase any of the benefits through the City. An employee must provide the City with written notice/waiver of paid health insurance payments for which the employee is eligible. Then the employee shall receive any unused amount of the City’s contribution to the Cafeteria Plan as taxable cash or have said amount placed into a deferred compensation plan. Effective July 1, 2018 if newly hired employees do not utilize the Cafeteria allowance for medical insurance, there shall be no cash back to the employee. These newly hired employees shall also be limited to a $100 twice a month (24 times per year) opt-out allowance for not using the City medical insurance. Employees not exhausting the allowance for medical insurance premiums ($1,300) will not receive a cashback cash back difference.
Appears in 1 contract
Samples: Memorandum of Understanding