Cafeteria Plan Benefits Sample Clauses

Cafeteria Plan Benefits. Any language contained in this MOU which is also contained in the cafeteria plan documents is done so for the convenience of the parties. However, the parties agree that all of the provisions of the cafeteria plan documents (whether included in this MOU or not) are applicable and binding on the parties to this MOU. Medical, dental and optical benefits are provided through the provision of a cafeteria plan adopted in accordance with the provisions of IRS Code § 125.
Sample 1Sample 2
AutoNDA by SimpleDocs
Cafeteria Plan Benefits. New hires are eligible for Cafeteria Plan benefits and health insurance beginning on the first day of the month following their start date. The following insurance benefits are provided through a cafeteria plan adopted in accordance with the provisions of Internal Revenue Code § 125: medical insurance, dental insurance, and optical insurance. For employees who are absent as a result of being injured on duty, the City shall pay its contribution for employees and dependents, if any, for health and welfare benefits during the continuous period of an employee's absence up to a maximum accumulated time of one year. 1. City Contribution to the Cafeteria Plan The City will contribute to the cafeteria plan on behalf of each employee an amount (which includes the PERS statutory minimum) determined annually by the method established herein. The total City contribution amount for each year will be determined by adding to the prior year’s contribution amount an amount equal to 80% of the net increase, if any, in the total cost of the monthly premiums for the following plans: (a) the employee plus family category of the PORAC medical insurance plan available through PERS, (b) the employee plus family category of the “Safety Standard” Guardian dental plan and (c) the employee plus family category of the “Safety Standard” optical VSP. The cafeteria plan contribution is used to purchase the optional benefits of medical insurance, dental insurance and optical insurance. Should the total premium cost of these three benefits decrease from one year to the next, the City will reduce its contribution for the three benefits by 80% of the net decrease and the employees will reduce their contribution for the three benefits by 20% of the net decrease. Assuming the cost of the three benefits increase, whatever amount employees pay (if any) will be carried over to the following year. Once the 80% amount is determined each year, that will determine the maximum amount the City will pay for the cafeteria plan for that year. In order to illustrate how this is calculated, the following explains the calculation of the 2019 contribution based upon the actual premiums: The City’s Cafeteria Plan contribution for 2018 was $2,081.26. In 2018, the employee contribution was $132.58 for a total cost of the benefits of $2,213.84. For 2019, the cost of the three benefits increased by a total of $109.91 to $2,323.75. The City paid 80% of the net increase. Thus, for 2019, the City’s Cafeteria Plan con...
Sample 1Sample 2
Cafeteria Plan Benefits. Regular employees eligible to receive benefits may elect to purchase health, dental, vision and life insurance coverage in accordance with this Memorandum for the employee and, where applicable, his/her dependents from a cafeteria plan account established for each regular employee. For the purposes of this Memorandum, a "regular employee" is any employee occupying a budgeted position, whether or not such employee is scheduled to work eighty (80) hours in a pay period.
Sample 1
Cafeteria Plan Benefits. In lieu of participating in any Company-sponsored welfare plans, Executive shall receive $20,000 per year in cafeteria plan benefits which Executive will utilize in his sole discretion for health, life, disability, and dental insurance or expenses, educational
Sample 1
Cafeteria Plan Benefits. Medical, Dental, and Vision Contributions
Sample 1
Cafeteria Plan Benefits. The City contracts with the Public Employees’ Retirement System for medical insurance coverage of employees in the unit. New hires are covered under the program on the first day of the month following a 30-day waiting period that begins on the hire date. The City will contribute the PERS statutory minimum on behalf of each participant in the program. In addition, the City will provide employees with flexible benefits through a cafeteria plan as provided below. New hires are eligible for Cafeteria Plan benefits and health insurance beginning on the first day of the month following their start date. The following insurance benefits are provided through a cafeteria plan adopted in accordance with the provisions of Internal Revenue Code § 125: medical insurance, dental insurance, and optical insurance. For employees who are absent as a result of being injured on duty, the City shall pay its contribution for employees and dependents, if any, for health and welfare benefits during the continuous period of an employee's absence up to a maximum accumulated time of one year. Any language contained in this MOU which is also contained in the cafeteria plan documents is done so for the convenience of the parties. However, the parties agree that all of the provisions of the cafeteria plan documents (whether included in this MOU or not) are applicable and binding on the parties to this MOU.
Sample 1
Cafeteria Plan Benefits. Executive shall be entitled to the usual and customary benefits and perquisites which the Company generally provides to its other executives under its applicable plans and policies (including, without limitation, group health, group dental and group life coverage). Executive shall pay any contributions which are generally required of executives to receive any such benefits.
Sample 1
AutoNDA by SimpleDocs
Cafeteria Plan Benefits. The employer will continue to make medical insurance options available for employees and dependents on the same basis and to the same extent that it makes such benefits available to all other non- bargaining unit employees. In accordance with current practice, the employer will pay the premium for employee-only coverage and the employee will bear the cost of any dependent coverage.
Sample 1
Cafeteria Plan Benefits employees shall receive continued and unchanged City contribution to the cafeteria benefit plan, as if the employee was working full time, which can be used for medical, dental and vision insurance benefits. Employees will be responsible for the same employee contributions.
Sample 1

Related to Cafeteria Plan Benefits

  • 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.

  • Plan Benefits Each year, prior to the annual enrollment period, EMPLOYEES will receive Enrollment information that will outline the benefits offered next calendar year. Information relative to specific health insurance benefits and limitations will be updated regularly and contained in the SPD. In the event there is a conflict between the provisions of the collective bargaining agreement and the SPD, the District's SPD shall control.

  • Dental Benefits The County offers dental and orthodontic benefits to full and part-time regular employees and their eligible dependent(s). Benefit provisions, co­ payments and deductibles are outlined in the Evidence of Coverage. The employee contribution is $13 per pay period ($28.26 per month). The County shall contribute to part-time eligible employees on a pro-rated basis, in accordance with Section 10.2.6.

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows: (a) The Manager shall (i) receive an annual cash base salary, payable not less frequently than semi-monthly, which is not less than the annualized cash base salary payable to Manager as of the Effective Date; (ii) be entitled to at least as favorable annual incentive award opportunity under the Company's annual incentive compensation plan as he did in the calendar year immediately prior to the year in which the Change of Control Event occurs; and (iii) be eligible to participate in all of the Company's long-term incentive compensation plans and programs on terms that are at least as favorable to the Manager as provided to the Manager in the four calendar years prior to the Effective Date. (b) The Manager shall be entitled to receive fringe benefits, employee benefits, and perquisites (including, but not limited to, vacation, medical, disability, dental, and life insurance benefits) which are at least as favorable to those made generally available as of the Effective Date to all of the Company's salaried managers as a group. In addition, the Manager shall be eligible to participate in the Company's Supplemental Retirement Income Program ("SRIP"). (c) Notwithstanding any other provision of this Agreement (whether in this Section 4, in Section 6, or elsewhere), (i) the Board of Directors may authorize an increase in the amount, duration, and nature of and/or the acceleration of any compensation or benefits payable under this Agreement, as well as waive or reduce the requirements for entitlement thereto and (ii) the Company may deduct from amounts otherwise payable to the Manager such amounts as it reasonably believes it is required to withhold for the payment of federal, state, and local taxes.

  • Vacation Benefits During the Term, the Executive shall be eligible for 20 vacation days annually, which shall be accrued and used in accordance with the applicable policies of the Company. During the Term, the Executive shall be eligible to participate in such medical, dental and life insurance, retirement and other plans as the Company may have or establish from time to time on terms and conditions applicable to other senior executives of the Company generally. The foregoing, however, shall not be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established.

  • Separation Benefits If this Agreement is terminated either by the Company without Cause in accordance with Section 6(c) (including the Company’s non-renewal of this Agreement) or by Employee resigning his employment for Good Reason in accordance with Section 6(d), the Company shall have no further obligation to Employee under this Agreement, except the Company shall provide the Accrued Obligations to Employee in accordance with Section 7(a) plus the following payments and benefits (collectively, the “Separation Benefits”) to Employee: (i) an amount equal to one times the sum of the Base Salary in effect immediately before the Termination Date plus the Annual Bonus received by Employee for the fiscal year preceding the Termination Date (or if Employee was employed for less than one full fiscal year prior to the Termination Date, the Annual Bonus for purposes of this Section 7 shall be the Annual Bonus payable during the current fiscal year at the target amount provided above) (together, the “Separation Pay”); and (ii) during the six-month period commencing on the Termination Date that Employee is eligible to elect and elects to continue coverage for himself and his eligible dependents under the Company’s group heath insurance plan pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), or similar state law, the Company shall reimburse Employee on a monthly basis for the difference between the amount Employee pays to effect and continue such coverage under COBRA and the employee contribution amount that active employees of the Company pay for the same or similar coverage; provided, however, that Employee shall notify the Company in writing within five days after he becomes eligible after the Termination Date for group health insurance coverage, if any, through subsequent employment or otherwise and the Company shall have no further reimbursement obligation after Employee becomes eligible for group health insurance coverage due to subsequent employment or otherwise. The Separation Pay shall be paid to Employee in a lump sum within 60 days of the Termination Date; provided, however, that no Separation Pay shall be paid to Employee unless the Company receives, on or within 55 days after the Termination Date, an executed and fully effective copy of the Release (as defined below). Any COBRA reimbursements due under this Section shall be made by the last day of the month following the month in which the applicable premiums were paid by Employee. For the avoidance of doubt, Employee shall not be entitled to the Separation Benefits if this Agreement is terminated (i) due to Employee’s death; (ii) by the Company due to Employee’s Inability to Perform; (iii) by the Company for Cause; (iv) by Employee without Good Reason; or (v) by non-renewal by Employee in accordance with Sections 4(b) and 6(f).

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!