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Cafeteria Plan Sample Clauses

Cafeteria Plan. As of the Distribution Date, Seaport Entertainment or any of its Subsidiaries shall establish or provide a cafeteria plan qualifying under Section 125 of the Code (the “Seaport Entertainment Cafeteria Plan”) allowing for the payment of welfare plan premiums on a pre-tax basis by Transferring Employees. As of January 1 of the calendar year following the calendar year in which the Distribution Date occurs, Seaport Entertainment or any of its Subsidiaries shall amend the Seaport Entertainment Cafeteria Plan to also provide for health care and dependent care flexible spending reimbursement accounts thereunder in which Transferring Employees who meet the eligibility criteria thereof may be immediately eligible to participate. From the Distribution Date until the end of the calendar year in which the Distribution Date occurs, each Transferring Employee who participated in health care or dependent care flexible spending reimbursement accounts under HHH’s cafeteria plan (the “HHH Cafeteria Plan”) immediately prior to the Effective Time will be permitted to continue participation in such flexible spending reimbursement accounts, and applicable elections and payroll deductions that were in effect immediately before the Effective Time will continue, during the Transferring Employee’s continued employment with the Seaport Entertainment Group on and after the Effective Time, with the amount of such payroll deductions transferred to HHH pursuant to the HHH Cafeteria Plan. As soon as practicable following the claim submission deadline under the HHH Cafeteria Plan for claims incurred in the calendar year in which the Distribution Date occurred, the HHH Group shall determine the aggregate accumulated contributions to the flexible spending reimbursement accounts under the HHH Cafeteria Plan made during such year by the Transferring Employees less the aggregate reimbursement payouts made for such year from such accounts to such Transferring Employees (the “Net FSA Balance”). If the Net FSA Balance is positive, the HHH Group shall pay to the Seaport Entertainment Group an amount in cash equal to the Net FSA Balance. From the Distribution Date until the end of the calendar year in which the Distribution Date occurs, HHH shall be solely responsible for all claims for reimbursement from the flexible spending reimbursement accounts incurred by the Transferring Employees during the calendar year that includes the Distribution Date and submitted to the HHH Cafeteria Plan by the Tra...
Cafeteria Plan. During the term of the MOU, the Town agrees to maintain a Cafeteria Plan, pursuant to Section 125 of the Internal Revenue Code, for the purpose of providing eligible active employees with access to various health and welfare benefits. Benefits available through the Cafeteria Plan include medical insurance, dental insurance, vision insurance and life insurance benefits.
Cafeteria PlanThe City shall implement a full flex cafeteria plan in accordance with IRS Code Section 125 for all active employees. Unit employees participating in the City’s full flex cafeteria plan shall receive a monthly flex dollar allowance to purchase benefits offered under the full flex cafeteria plan. The following health care benefits shall be offered through the cafeteria plan: medical, dental, vision and life. The monthly dollar allowance for 2021, which is inclusive of the statutory PEMHCA minimum, shall be: Employee only: $ 818.00 Employee + 1: $ 1,440.00 Family: $ 1,801.00 The monthly flex dollar allowance may be used in accordance with the terms of the cafeteria plan to purchase benefits offered under the cafeteria plan and other supplementary products. After the mandatory medical insurance plan has been made the employee has the option to waive the other benefits and have the excess flex dollars converted to taxable income or purchase other supplementary products. In the event that premiums and/or costs for the selected benefits exceed the monthly flex dollar allowance, the balance will be paid by the employee through automatic pre-tax payroll deduction, as permitted under IRS Code Section 125. The City will contribute up to an additional 4% towards the increased cost of medical premiums in a calendar year. The average increase in PERS monthly health care premiums for active employees shall be calculated by subtracting the average cost of Los Angeles area Basic premiums for all available City-offered CalPERS health-care plans for the current year from the average cost of Los Angeles area Basic premiums for all available City- offered CalPERS health-care plans for the upcoming year. If this percentage is less than 4%, then the City allowances shall be increased only by that percentage. If this percentage equals or exceeds 4%, the City allowances shall be increased by 4%. If there is a year where the average premium increase is 0%, or there is an overall decrease, the City contribution shall not be adjusted. In addition, the City shall continue to provide flex dollars to cover 100% of HMO dental, vision and life insurance premiums.
Cafeteria PlanEmployees who are full-time bargaining unit members including those on Board approved paid leave, but excluding those on sick leave or disability leave shall have access to the “Cafeteria Plan” established by the Board. Part-time unit members and members on unpaid Board approved leave are not eligible to participate in the program. The following criteria shall apply to the granting of cafeteria insurance benefits: 1. The Board will provide twenty-five dollars ($25) per month not to exceed three hundred dollars ($300) per employee per school year. Employees hired after the commencement of the school year shall receive twenty five dollars ($25) per month for each full month of employment. 2. The specific benefit components of the cafeteria plan shall be contained in a booklet, which shall be distributed electronically to all eligible unit members or maintained on the Benefits Department website.
Cafeteria Plan. The insurance benefit program both with respect to coverage and employer contribution applicable to covered employees and retired employees shall be as set forth on “Appendix B” attached hereto and made a part of this Agreement.
Cafeteria PlanThe provisions of the Cafeteria Plan are described below.
Cafeteria Plan. The City will provide to each represented employee a Cafeteria Plan allotment to purchase benefits under Section 125 of the Internal Revenue Code. ASSOCIATION acknowledges that Section 125 of the IRC requires that the Cafeteria Plan be adopted by the City Council prior to the end of the calendar year. Accordingly, the City and ASSOCIATION agree: 1) That the parties will meet at the earliest possible time to discuss Cafeteria plan changes; 2) That the parties may prepare a timeline/schedule to ensure timely and expeditious discussions; 3) That the parties shall engage in good faith discussions; 4) That if the discussions have reached impasse and there is sufficient time prior to the required IRC plan adoption date or if both parties otherwise agree, the parties will submit the matter for non-binding advisory mediation, with the mediator chosen in the same manner set forth in the Grievance Procedure; and 5) The City Council, to ensure timely compliance with Section 125 of the IRC, may at any time in the month December unilaterally adopt the Plan Document containing the specific provisions of the Plan (including plan changes) without mutual agreement and prior to the completion of paragraphs 1-4 of this section.
Cafeteria PlanThe Employer shall maintain an IRC (S)125 plan, or similar arrangement as from time to time permitted by the Internal Revenue Code as then in effect, for health insurance premiums and other permitted (S)125 benefits and the Employee shall be permitted to divert compensation for such premiums and other benefits.
Cafeteria PlanEmployees who are currently eligible for all fringe benefits shall have access to the "Cafeteria Plan" established by the Board. The following criteria shall apply to the granting of cafeteria insurance benefits: 1. The Board will provide twenty-five dollars and no cents ($25.00) per month not to exceed $300.00 per employee per school year. Employees hired after the commencement of the school year shall receive twenty-five dollars and no cents ($25.00) per month for each full month of employment. 2. The specific benefit components of the Cafeteria Plan shall be maintained on the Benefits Department website.
Cafeteria Plan. The district agrees to provide and administer a Cafeteria Plan as described herein: Purpose: The purpose of the Cafeteria Plan is to allow eligible employees to redirect salary to pay medical and dental insurance premiums and other medical and dental and dependent care expenses. The plan shall qualify as a "Cafeteria Plan" under Sections 125 and 129 of the Internal Revenue Code. (See actual plan for detailed information.) Description of benefits available: - Insurance premium expenses - the employee's cost for medical, dental and vision insurance coverage - Dependent care expenses - the employee's cost for necessary dependent care. When it pertains to the district day care program, the district shall exclusively set the cost of the program for as long as the program exists. - Health care expenses - the employee's cost for other out-of-pocket health care expenses