Cash benefit option. Employees who fail to elect the retiree health benefit will be cashed out, if eligible. If employee elects the cash option, the employee will receive the benefit if the employee separates in good standing as a result of resignation, layoff, retirement or death.
Cash benefit option. If you choose to receive a check (as opposed to a credit on your future bills), your cash benefit payment will be the following for each gas and/or electric account for which you submit a valid Claim Form: A cash payment of the greater of $10.00 or 65% of the “Calculated Amount” up to $500.00 based upon a formula that compares the variable rate that you were charged by Viridian per kilowatt hour (for electricity) or therm (for gas) based on Viridian’s records, against a weighted average of the relevant utility’s Price to Compare during that same period of time, adjusting for, among other things, the cost for green energy and Viridian’s costs and margin (the “cash option”).
Cash benefit option. In lieu of aforementioned hospitalization insurance, Administrators may substitute a $250 monthly cash benefit. Members who elect the cash in lieu benefit will be paid in 18 equal installments beginning in October and ending in June.
Cash benefit option. In lieu of aforementioned hospitalization insurance, Administrators may substitute a $250 monthly cash benefit.
