Contributions to the Active Employees’ Plan Sample Clauses

Contributions to the Active Employees’ Plan. The School District will make an annual contribution to individual accounts under the health reimbursement arrangement. The School District shall make contributions to individual health reimbursement accounts on a prorated basis consistent with payroll cycles. The first contribution will start the month after the date of hire and will be prorated based upon the employee’s Full Time Equivalency and the number of months remaining in the plan year. A deposit will be approximately 1/18th of the District’s annual contribution for a full-time employee who is employed a full year. Deposits for a full school year will begin with a mid-September deposit and end with a late May deposit. The District will offer a High Deductible Health Plan (HDHP) that can function as a VEBA plan or Health Savings Account. An employee cannot receive or use money from both types of accounts in the same calendar year. Employee’s indicating they intend to switch to the HDHP as a Health Savings Account will be contacted to confirm their transition from/to an H.S.A. VEBA account monies cannot be used in one calendar year if you are enrolled in an H.S.A. in in the same calendar year. All contributions on behalf of a VEBA Plan participant shall cease on the date the participant is no longer covered under the high deductible health plan in Section 2 above.
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Contributions to the Active Employees’ Plan. Employer will make an annual contribution to individual accounts under the health reimbursement arrangement for qualifying bargaining unit members in accordance with the following schedule: $1,248 for each qualified employee who elects single coverage under the group health plan described in Subdivision 2; and $2,496 for each qualified employee who elects family coverage under the group health plan described in Subdivision 2. The contribution will be made in thirds, with the first contribution on January 1st, the second contribution on May 1st, and the third contribution on September 1st. The employer will contribute $416.00 to the individual account each period for those employees who elect single coverage, and $832.00 to the individual account each period for those employees who elect family coverage under the group health plan described in Subdivision 2. Dollars in individual accounts shall not be eligible to use until they have been accrued. If a qualified bargaining unit member enters the VEBA Plan as a participant on a date after the first day of the VEBA Plan year, the Employer shall prorate the amount of the Employer Contribution to reflect the late entry. This prorated share of employer contribution shall be based on the number of months remaining in the plan year. Any employee entering the VEBA plan on a date other than the first day of that month, shall receive the entire employee contribution amount for the month in which they enter (i.e. an employee entering the VEBA plan anytime during the month of April would receive 9/12 of the total year employee contribution toward the individual’s VEBA account). All employer contributions on behalf of a VEBA Plan participant shall cease on the date the participant is no longer covered under the high deductible health plan in Subdivision 2 below, or on a date that the individual no longer in employed by the City of Chaska.
Sample 1
Contributions to the Active Employees’ Plan. The School District will make an annual contribution to individual accounts under the health reimbursement arrangement in accordance with the following schedule: total annual contribution of $6982 in 2011-2013. The School District shall make contributions to individual health reimbursement accounts on a semi-annual basis – October 1 and December 1. Each contribution shall be 50% of the total health savings amount as described above. If a qualified bargaining unit member enters the VEBA Plan as a participant on a date after the first day of the VEBA Plan year, the School District will prorate the amount of the District contribution to reflex the late entry.
Sample 1
Contributions to the Active Employees’ Plan a. The School District will make an annual contribution, not to exceed HSA IRS limits, to accounts under the health reimbursement arrangement for qualifying bargaining-unit members equal to the deductible in the highest premium VEBA insurance policy or the difference between the costs of the highest premium plan plus the VEBA contribution, less the cost of the premiums for the plan selected, not to exceed the maximum single and or family district contribution levels outlined in Article 33, Section 1. b. The contribution will be made on or about the first day of the VEBA/HRA/HSA Plan year. Any employee who leaves prior to the end of the school year will reimburse the School District on a prorated basis for any unused portion of the District’s contribution to the HRA/HSA Trust for that plan year. This amount will be deducted from the employee’s paycheck with the employee’s permission. In the event that the employee does not give permission, the amount will be repaid to the School District through a payment plan mutually agreed to by the employee and the School District . c. If a qualified bargaining-unit member enters the HRA/HSA Plan as a participant on a date after the first day of the HRA/HSA Plan year, the School District shall prorate the amount of the School District’s contribution to reflect the late entry. If the participant incurs one or more claims for an eligible health expense that exceeds the participant’s account balance in the HRA/HSA Plan, the School District shall, at the participant’s request, increase its contribution for that year to the extent necessary to reimburse the participant for the claim, but not exceeding the contribution made to similarly situated participants who entered the HRA/HSA Plan on the first day of the HRA/HSA Plan year. The participant shall be entitled to the same rights of similarly situated employees to accelerate future School District contributions that are prorated over the HRA/HSA Plan year. d. All contributions on behalf of an HRA/HSA Plan participant shall cease on the date the participant is no longer covered under the high deductible health plan in Subdivision 5 below.
Sample 1
Contributions to the Active Employees’ Plan. The School District will make an annual contribution to individual accounts under the health reimbursement arrangement in accordance with the following schedule:
Sample 1
Contributions to the Active Employees’ Plan. Employer will make monthly contributions on the 20th of each month over the VEBA Plan year (not to exceed an annual amount) to individual accounts under the health reimbursement arrangement for qualifying bargaining unit members. If a participant in the VEBA Plan is entitled to receive an annual contribution that is prorated on a monthly basis over the VEBA Plan year, and the participant incurs one or more claims for an eligible health expense that exceeds the participant’s account balance in the VEBA Plan, the Employer shall, at the participant’s request, accelerate its prorated contribution for that year to the extent necessary to reimburse the participant for the claim. The total contribution for such a participant shall in no event exceed the contribution to which he or she was originally entitled to for that year. If a qualified bargaining unit member or retiree enters the VEBA Plan as a participant on a date after the first day of the VEBA Plan year, the Employer shall prorate the amount of the Employer Contribution to reflect the late entry.
Sample 1
Contributions to the Active Employees’ Plan. The School District will make an annual contribution to individual accounts under the health reimbursement arrangement in accordance with the following schedule: During the 2022-2023 school year the district shall contribute an amount not to exceed $7,630.00 towards a combination of annual health insurance premium and VEBA account. During the 2023-20241 school year the district shall contribute an amount not to exceed $8,080.00 towards a combination of annual health insurance premium and VEBA account. $1,850 will be deposited into their VEBA account first with the remaining amount going towards the cost of the health insurance premium. The School District shall make contributions to individual health reimbursement accounts on a prorated basis consistent with the payroll cycles. The first contribution will start the month after the date of hire and will be prorated based upon the employee’s Full Time Equivalency and the number of deposits remaining in the plan year. A deposit will be approximately 1/24th of the District’s annual contribution for a full-time employee who is employed a full year. Deposits for a full year will begin with a mid-July deposit and end with a late June deposit. The District will offer a High Deductible Health Plan (HDHP) that can function as a VEBA plan or Health Savings Account. An employee cannot receive or use money from both types of accounts in the same calendar year. Employee’s indicating they intend to switch to the HDHP as a Health Savings Account will be contacted to confirm their transition from/to an H.S.A. VEBA account monies cannot be used in one calendar year if you are enrolled in an H.S.A. in the same calendar year. All contributions on behalf of a VEBA Plan participant shall cease on the date the participant is no longer covered under the high deductible health plan in Section II above.
Sample 1
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Contributions to the Active Employees’ Plan. The School District will make an annual contribution to individual accounts under the health reimbursement arrangement in accordance with the following schedule: total annual contribution of $8,052 in 2022-2023 and $8,502 in 2023-24.
Sample 1

Related to Contributions to the Active Employees’ Plan

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Active Employees Active Employees who have not terminated service during the Plan Year and who meet the following requirements (select all that apply; leave blank if no exclusions): a. [ ] The Employee must be at least age (e.g., 55) b. [ ] The value of the sick and/or vacation leave must be at least $ (e.g., $2,000) c. [ ] A contribution will only be made if the total hours is over (e.g., 10) hours d. [ ] A contribution will not be made for hours in excess of (e.g., 40) hours

  • 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.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

  • Company Contributions The Company shall continue to make a Company Contribution for Plan Years 2017, 2018 and 2019, on the same terms and conditions set forth in the Participant Agreement, with the performance metrics and targets in connection with such Company Contributions for such Plan Years to be established in the sole discretion of the Committee, following consultation with the Chief Executive Officer of the Company.

  • Elective Deferrals (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

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