Cafeteria Plan Allotment Sample Clauses

Cafeteria Plan Allotment. 1. The Flex Benefit amount for Employee Only, those with coverage outside of the City, and those employees covered by another City employee is fixed at the amount provided in the calendar year 2015 ($13,024). The flex amount for Employee + 1 and Employee + Family will be adjusted under the current 50/50 cost sharing formula, utilizing the average cost increase of the full-family, non- indemnity, health plan premiums. Eligible part-time employees will receive an allotment in the proportion that such part-time employment bears to full-time employment. 2. [ACA Reopener] The City provides medical benefits (via a cafeteria plan as set forth in Article 2.19) to ASSOCIATION represented employees. These benefits are subject to the Federal Affordable Care Act (“ACA”). The City, upon notice to ASSOCIATION, may reopen this MOU when the City has been informed of or is aware of non-compliance with the ACA, including a “Cadillac” tax. The City shall provide notice to ASSOCIATION of the nature of the act or omission that forms the basis of ACA non-compliance. The City and ASSOCIATION shall thereafter promptly meet and confer to the extent required by the MMBA.
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Cafeteria Plan Allotment. The Flex Benefit amount for Employee Only, those that opt out of City coverage, and those employees covered by another Chula Vista City employee shall be fixed at $13, 024. The flex amount for Employee + 1 and Employee + Family will be adjusted under the current 50/50 cost sharing formula, utilizing the average cost increase of the full-family, non-indemnity, health plan premiums. Eligible part-time benefited employees will receive an allotment in the proportion that such part-time employment bears to full-time employment. [ACA Reopener] The City provides medical benefits (via a cafeteria plan as set forth in Article 2.11) to WCE represented employees. These benefits are subject to the Federal Affordable Care Act (“ACA”). The City, upon notice to WCE, may reopen this MOU when the City has been informed of or is aware of non-compliance with the ACA, including a “Cadillac” tax. The City shall provide notice to WCE of the nature of the act or omission that forms the basis of ACA non-compliance. The City and WCE shall thereafter promptly meet and confer to the extent required by the MMBA. The City provides a Cafeteria Plan Allotment amount (“Allotment”) to WCE represented employees to purchase benefits qualified under Section 125 of the IRC as set forth in Article 2.11 of the MOU. The Allotment for 2017 is $14,136, but may increase on a yearly basis. The City shall provide a comparable or replacement benefit to any benefit lost as a result of compliance with the ACA, including a “Cadillac Tax.” The aforementioned comparable or replacement benefit shall be up to, but not exceed the Allotment amount, as provided for in Article 2.19(I)(B) above (currently $14,136 for 2017), less any remaining or non-impacted Allotment amounts. The aforementioned Allotment amount shall also not be increased to account for taxation benefits. The City shall also, to the extent necessary, earmark and set aside the impacted Allotment amounts (provided for in Article 2.11(I)(B) above [Cafeteria Plan]) so that they may be used to provide the aforementioned comparable or replacement benefit. The City shall endeavor to ensure that any plan design changes will have the least impact on employees as possible and still comply with the ACA. This re-opener shall be used only to ensure ACA compliance, including a “Cadillac” tax.
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Cafeteria Plan Allotment. The CITY will provide to each full-time represented employee a Cafeteria Plan allotment to purchase benefits qualified under Section 125 of the Internal Revenue Code. The Cafeteria Plan allotment may only be used to purchase City provided medical, dental, and vision coverages. Employees will not be able to purchase flexible spending accounts utilizing the Cafeteria Plan allotment. Effective January 1, 2020, the CITY will provide a Cafeteria Plan allotment of $1,800 a month for a city provided medical, dental, and vision plans for all employees and their eligible dependents on a pre-tax basis to meet IRS regulations. Effective January 1, 2021, the CITY will provide a Cafeteria Plan allotment of $1,850 a month for a city provided medical, dental, and vision plans for all employees and their eligible dependents on a pre-tax basis to meet IRS regulations. The employee will pay for any premiums in excess of the Cafeteria Plan allotment through payroll deductions. The CITY and the ASSOCIATION agree to a re-opener to meet and confer over potential impacts of future medical premium costs. Health benefits are effective the first of the month following hire date. The Cafeteria Plan allotment terminates the last day of the month upon separation. Dental election is optional for EMPLOYEE and their eligible dependents. Vision election is optional for EMPLOYEE and their eligible dependents. Those EMPLOYEES who elect not to be covered under the CITY’s medical health insurance plan must demonstrate proof of alternative medical insurance (i.e. spouse or independent insurance coverage). Employees shall not be permitted to cash out any amount as a taxable cash benefit.
Sample 1
Cafeteria Plan Allotment. The CITY will provide to each full-time represented employee a Cafeteria Plan allotment to purchase benefits qualified under Section 125 of the Internal Revenue Code. Effective July 1, 2017 through December 31, 2017, the City will continue to provide the following cafeteria plan allotment: Employee Only enrolled in City medical plan- $900 per month Employee +1 enrolled in City medical plan- $1,100 per month Employee + Family enrolled in City medical plan- $1,420 per month Effective January 1, 2018, the CITY will provide a Cafeteria Plan allotment of $1,650 a month for a city provided medical, dental, and vision plans for all employees and their eligible dependents on a pre-tax basis to meet IRS regulations. Effective January 1, 2019, the CITY will provide a Cafeteria Plan allotment of $1,700 a month for a city provided medical, dental, and vision plans for all employees and their eligible dependents on a pre-tax basis to meet IRS regulations. The Cafeteria Plan allotment may only be used to purchase City provided medical, dental, and vision coverages. Employees will not be able to purchase flexible spending accounts utilizing the Cafeteria Plan allotment, except in 2019. Effective January 1, 2019, employees hired prior to July 1, 2015 may contribute up to $41.66 per month from the remaining Cafeteria Plan Allotment to a Health Care FSA. A City medical plan must be elected in order to participate in the Health Care FSA in 2019 using remaining Cafeteria Plan Allotment. Utilizing the remaining of the Cafeteria Plan Allotment, up to $41.66 per month, will terminate December 31, 2019. The employee will pay for any premiums in excess of the Cafeteria Plan allotment through payroll deductions. The CITY and the ASSOCIATION agree to a re-opener to meet and confer over potential impacts of future medical premium costs. Health benefits are effective the first of the month following hire date. The Cafeteria Plan allotment terminates the last day of the month upon separation. Dental election is optional for EMPLOYEE and their eligible dependents. Vision election is optional for EMPLOYEE and their eligible dependents. Those EMPLOYEES who elect not to be covered under the CITY’s medical health insurance plan must demonstrate proof of alternative medical insurance (i.e. spouse or independent insurance coverage). Effective January 1, 2018, employee who elect to be covered under the City’s medical, dental, and vision insurance plans or who elect not to be covered under the ...
Sample 1
Cafeteria Plan Allotment. 1. The Flex Benefit amount for Employee Only, those with coverage outside of the City, and those employees covered by another City employee is fixed at $13,024. The flex amount for Employee + 1 and Employee + Family will be adjusted under the current 50/50 cost sharing formula, utilizing the average cost increase of the full-family, non-indemnity, health plan premiums, which is currently set at $15,564 for calendar year 2023. Eligible part-time employees will receive an allotment in the proportion that such part-time employment bears to full-time employment.
Sample 1

Related to Cafeteria Plan Allotment

  • 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 Transferring Employee no later than the claim submission deadline with respect to such calendar year, whether such claims are incurred prior to, on or after the Distribution Date, which claims shall be paid pursuant to and under the terms of the HHH Cafeteria Plan.

  • 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.

  • Elective Deferrals Any Employer contributions made to the Plan at the election of the Participant, in lieu of cash compensation, and shall include contributions made pursuant to a salary reduction agreement or other deferral mechanism. With respect to any taxable year, a Participant's Elective Deferral is the sum of all employer contributions made on behalf of such Participant pursuant to an election to defer under any qualified cash or deferred arrangement as described in section 401(k) of the Code, any salary reduction simplified employee pension described in section 408(k)(6), any SIMPLE IRA Plan described in §408(p), , any plan as described under section 501(c)(18), and any employer contributions made on the behalf of a Participant for the purchase of an annuity contract under section 403(b) pursuant to a salary reduction agreement. Elective Deferrals shall not include any deferrals properly distributed as excess annual addition. For years beginning after 2005, the term “elective Deferrals” includes Pre-tax Elective Deferrals and Xxxx Elective Deferrals. Pre-tax Elective Deferrals are a participant’s Elective Deferrals that are not includible in the participant’s gross income at the time deferred. The Employer may, if notification is made within a reasonable time and in a manner described in IRS Revenue Ruling 2000-8, 2000-7 IRB617, allow for negative elections. If such administrative provision applies and the Employee does not affirmatively elect to not participate and the Employee does not affirmatively elect a different amount (including no amount), a default amount shall be deducted from the Employee’s Compensation. Such default amount shall be part of the initial notification received by the Employer. If negative elections apply under the Plan, the Employer shall indicate whether the default shall be a pre-tax Elective Deferral or a Xxxx Elective Deferral in the Adoption Agreement.

  • Participation in Benefit Plans The Executive shall be eligible to participate in the employee benefit plans and programs maintained by the Company from time to time for its executives, or for its employees generally, including without limitation any life, medical, dental, accidental and disability insurance and profit sharing, pension, retirement, savings, stock option, incentive stock and deferred compensation plans, in accordance with the terms and conditions as in effect from time to time.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time-to-time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time-to-time by the Company for the benefit of its senior executives, other than any annual cash incentive plan.

  • Nonqualified Deferred Compensation (a) It is intended that any payment or benefit which is provided pursuant to or in connection with this Agreement which is considered to be deferred compensation subject to Section 409A of the Code shall be paid and provided in a manner, and at such time and form, as complies with the applicable requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided therein for non-compliance. (b) Neither Company nor Executive shall take any action to accelerate or delay the payment of any monies and/or provision of any benefits in any manner which would not be in compliance with Section 409A of the Code (including any transition or grandfather rules thereunder). (c) Because Executive is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, any payments to be made or benefits to be delivered in connection with Executive’s “Separation from Service” (as determined for purposes of Section 409A of the Code) that constitute deferred compensation subject to Section 409A of the Code shall not be made until the earlier of (i) Executive’s death or (ii) six months after Executive’s Separation from Service (the “409A Deferral Period”) as required by Section 409A of the Code. Payments otherwise due to be made in installments or periodically during the 409A Deferral Period (“Delayed Payments”) shall be accumulated and paid in a lump sum as soon as the 409A Deferral Period ends, and the balance of the payment shall be made as otherwise scheduled. Any such benefits subject to the rule may be provided under the 409A Deferral Period at Executive’s expense, with Executive having a right to reimbursement from Company once the 409A Deferral Period ends, and the balance of the benefits shall be provided as otherwise scheduled. Any Delayed Payments shall bear interest at the United States 5-year Treasury Rate plus 2%, which accumulated interest shall be paid to Executive as soon as the 409A Deferral Period ends. (d) For purposes of this Agreement, all rights to payments and benefits hereunder shall be treated as rights to receive a series of separate payments and benefits to the fullest extent allowed by Section 409A of the Code. (e) Notwithstanding any other provision of this Agreement, neither Company nor its subsidiaries or affiliates shall be liable to Executive if any payment or benefit which is to be provided pursuant to this Agreement and which is considered deferred compensation subject to Section 409A of the Code otherwise fails to comply with, or be exempt from, the requirements of Section 409A of the Code.

  • Employer Contributions 16.01 Employer contributions shown in the tables in the attached appendices shall be made on all hours of work performed which are included in computing the eight (8) hours per day and forty (40) hours per week after which overtime is payable and shall be recorded on a standard remittance report provided by the Union and remitted on or before the fifteenth (15th) day of the month following the month for which contributions are due and payable, to the Trust Funds. Hours of work performed are interpreted to mean daily travel time, daily working time, reporting time, and, if the employee is required to perform a welding test, testing time. Contributions for overtime hours will be calculated as straight time hours. The Employer shall provide each employee covered by this Agreement with a statement with each weekly paycheque stating the total number of hours reported for contributions to the Pension and Health & Welfare Funds on behalf of that employee for the period covered by the paycheque. 16.02 All such funds due and payable to the above funds shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds are not wages or benefits due to an employee and industry promotion funds are deemed to be dues for services rendered by the Association. 16.03 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Fund, including provisions for an audit, security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds as liquidated damages, and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 16.04 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 16.05 The Employer shall not be required to make additional contributions or payments to any Industry Funds established by the Union or its Local Unions nor to any such funds established by Provincial or Territorial Government orders, regulations, or decrees for the purpose of providing similar benefits, it being understood and agreed that the contributions for herein, or any portions thereof shall be deemed to be in lieu of and/or shall be applied as payments to such funds. This provision shall not be applicable to any national funds or plans having general application and established by an Act of the Government of Canada. 16.06 In the Province of Ontario, the Trustees/Administrator of the employee benefit funds referred to in this Agreement shall promptly notify the Local Union of the failure by any Employer to pay any employee benefit contributions required to be made under this Agreement and which are owed under the said funds in order that the Program Administrator of the Ontario Employee Wage Protection Program may deem that there has been an assignment of compensation under the said Program in compliance with the Regulations to the Ontario Employment Standards Amendment Act, 1991, in relation to the Ontario Employee Wage Protection Program. 16.07 The parties hereto agree that contribution rates for the trust funds listed herein do not include any Provincial or Federal taxes.

  • Qualified Plans With respect to each Employee Benefit Plan intended to qualify under Code Section 401(a) or 403(a) (i) the Internal Revenue Service has issued a favorable determination letter, true and correct copies of which have been furnished to Medical Manager, that such plans are qualified and exempt from federal income taxes; (ii) no such determination letter has been revoked nor has revocation been threatened, nor has any amendment or other action or omission occurred with respect to any such plan since the date of its most recent determination letter or application therefor in any respect which would adversely affect its qualification or materially increase its costs; (iii) no such plan has been amended in a manner that would require security to be provided in accordance with Section 401(a)(29) of the Code; (iv) no reportable event (within the meaning of Section 4043 of ERISA) has occurred, other than one for which the 30-day notice requirement has been waived; (v) as of the Effective Date, the present value of all liabilities that would be "benefit liabilities" under Section 4001(a)(16) of ERISA if benefits described in Code Section 411(d)(6)(B) were included will not exceed the then current fair market value of the assets of such plan (determined using the actuarial assumptions used for the most recent actuarial valuation for such plan); (vi) all contributions to, and payments from and with respect to such plans, which may have been required to be made in accordance with such plans and, when applicable, Section 302 of ERISA or Section 412 of the Code, have been timely made; and (vii) all such contributions to the plans, and all payments under the plans (except those to be made from a trust qualified under Section 401(a) of the Code) and all payments with respect to the plans (including, without limitation, PBGC (as defined below) and insurance premiums) for any period ending before the Closing Date that are not yet, but will be, required to be made are properly accrued and reflected on the Current Balance Sheet.

  • Sick Leave Benefit Plan The Sick Leave Benefit Plan will provide sick leave days and short term disability days for reasons of personal illness, personal injury, including personal medical appointments and personal dental appointments.

  • Nonqualified Distributions If you do not meet the requirements for a qualified distribution, any earnings you withdraw from your Xxxx XXX will be included in your gross income and, if you are under age 59½, may be subject to an early distribution penalty tax. However, when you take a distribution, the amounts you contributed annually to any Xxxx XXX and any military death gratuity or Servicemembers’ Group Life Insurance (SGLI) payments that you rolled over to a Xxxx XXX, will be deemed to be removed first, followed by conversion and employer-sponsored retirement plan rollover contributions made to any Xxxx XXX on a first-in, first-out basis. Therefore, your nonqualified distributions will not be taxable to you until your withdrawals exceed the amount of your annual contributions, military death gratuity or SGLI payments and your conversions and employer-sponsored retirement plan rollovers.

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