FLEXIBLE BENEFIT CONTRIBUTION Sample Clauses

FLEXIBLE BENEFIT CONTRIBUTION. Pursuant to the Section 125 flexible benefit plan adopted by the City, unit members receive a monthly allowance (in addition to the CalPERS statutory minimum) to pay for eligible qualified benefits as identified in the plan Document (for example, premiums for medical, dental, vision, and supplemental life insurance). MEMORANDUM OF UNDERSTANDING BETWEEN THE CITY OF COVINA AND AFSCME LOCAL 3325 Effective July 1, 2021 Effective the first paycheck date starting on or after July 1, 2021, employees receive a monthly allowance of $1,210. Effective the first paycheck date starting on or after July 1, 2022, employees receive a monthly allowance of $1,310. Effective the first paycheck date starting on or after July 1, 2023, employees receive a monthly allowance of $1,410. If at any time during the term of this Agreement, other City employees receive a higher monthly allowance, AFSCME members shall automatically be increased to match the higher amount. Employees may receive unused portions of the allowance as cash. The maximum amount of cash received is limited to the following: • $750 per month for employees hired into a regular fulltime position before July 1, 2013 • $300 per month for employees hired into a regular fulltime position on or after July 1, 2013; and • $150 per month for employees hired into a regular fulltime position on or after June 18, 2019. Cash payments are treated as taxable income. Employees who opt out of the CalPERS medical plan and receive cash must provide the following:
Sample 1Sample 2
AutoNDA by SimpleDocs
FLEXIBLE BENEFIT CONTRIBUTION. Pursuant to the Section 125 flexible benefit plan adopted by the City, unit members receive a monthly allowance (in addition to the CalPERS statutory minimum) to pay for eligible qualified benefits as identified in the Plan Document (for example premiums for medical, dental, vision, and supplemental life insurance). • Effective the first paycheck date starting on or after July 1, 2021, employees receive a monthly allowance of $1,210. • Effective the first paycheck date starting on or after July 1, 2022, employees receive a monthly allowance of $1,310. • Effective the first paycheck date starting on or after July 1, 2023, employees receive a monthly allowance of $1,410. Employees who elect benefits with premium costs that are less than the allowance or who opt out of medical coverage may receive unused portions of the allowance as cash. Cash payments are treated as taxable income.
Sample 1
FLEXIBLE BENEFIT CONTRIBUTION. Pursuant to the Section 125 flexible benefit plan adopted by the City, unit members receive a monthly allowance (in addition to the CalPERS statutory minimum) to pay for eligible qualified benefits as identified in the Plan Document (for example: premiums for medical, dental, vision, and supplemental life insurance). • Effective the first paycheck date starting on or after July 1, 2021, employees receive a monthly allowance of $1,210. • Effective the first paycheck date starting on or after July 1, 2022, employees receive a monthly allowance of $1,310. • Effective the first paycheck date starting on or after July 1, 2023, employees receive a monthly allowance of $1,410. Employees may receive unused portions of the allowance as cash. The maximum amount of cash received is limited to the following: • $750 per month for employees hired into a regular fulltime position with the City before July 1, 2013; and • $300 per month for employees hired into a regular fulltime position with the City on or after July 1, 2013. Cash payments are treated as taxable income. The City will administer this provision so that any benefits which are purchased by each employee will be deducted from his/her monthly allowance on a pre-tax basis. Any remaining funds are paid out up to the maximums described above. Employees who opt out of the CalPERS medical plan and receive cash must provide the following:
Sample 1

Related to FLEXIBLE BENEFIT CONTRIBUTION

  • Flexible Benefit Plan The Board shall provide the following flexible benefit plan to employees who are paid more than twenty (20) hours per week. All employee benefits plans provided by the Board under this Article shall have plan years based on the calendar year. No Coverage - Employees who produce proof of other medical insurance coverage may elect no coverage. Those electing no coverage as of June 30, 2001, will receive a cash "buy-out" equal to 40% of the annual premium for the “Point-of-Service Plan Individual Coverage” up to $1,220.44 per year. Any employee receiving a cash “buy-out” who elects coverage on or after July 1, 2001will no longer be eligible to receive the cash “buy-out” at a later date. DENTAL Traditional - See Traditional Dental Chart below. No Coverage - Employees may elect no coverage. Those electing no coverage as of June 30, 2001, will receive a cash "buy-out" equal to 40% of the annual premium for "Traditional Individual Coverage” up to $89.70 per year. Any employee receiving a cash “buy-out” who elects coverage on or after July 1, 2001, will no longer be eligible to receive the cash “buy-out” at a later date. TRADITIONAL DENTAL NO DEDUCTIBLE 100%** Emergency treatment Oral examinations X-Rays Teeth cleaning Fluoride treatments for children to age 19 Space maintainers Preventative Services PER PERSON PER CALENDAR YEAR DEDUCTIBLE* 80%** Laboratory tests Fillings Amalgam Silicate Acrylic Root canal Repair and maintenance of bridgework and dentures Periodontal services Extractions and other oral surgery Anesthesia Basic Services PER PERSON PER CALENDAR YEAR DEDUCTIBLE* 50%** Gold and porcelain fillings and crowns Installation of bridgework and crowns Orthodontia (subject to separate $2,500 lifetime maximum per person) – Effective January 1, 2017 Major Services $1,500 Per Person - Calendar Year Maximum** $2,000 Per Person – Calendar Year Maximum** (Effective January 1, 2017) * $50 per person; $150 - Family maximum - when three (3) Family Members have each met the $50 Deductible - See the Schedule of Insurance. **Paid by Traditional Dental.

  • Flexible Benefits Plan A flexible benefits plan, which is in accordance with Section 125 of the Internal Revenue Code, was implemented for eligible employees covered by this Agreement on October 1, 1990.

  • FLEXIBLE BENEFITS PROGRAM 24-1 All employees covered by this agreement are eligible to participate in CMU Choices, the University's Flexible Benefit Program.

  • Flexible Benefits Insurance Program

  • Retirement Contribution The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications. Corrections Firearms Instructor Oil & Hazardous Material Responder I Oil & Hazardous Material Responder II

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Cafeteria Plan As of the Benefit Commencement Date, New Parkway or any of its Subsidiaries shall establish a cafeteria plan qualifying under Section 125 of the Code (the “New Parkway Cafeteria Plan”) and 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. As soon as practicable following the Benefit Commencement Date, the Cousins Group shall determine the aggregate accumulated contributions to the flexible spending reimbursement accounts under Cousin’s cafeteria plan or Legacy Parkway’s cafeteria plan, as applicable, in which such Transferring Employees participated (the “Cousins Cafeteria Plans”) made during the year in which the Distribution Date occurs by the Transferring Employees less the aggregate reimbursement payouts made for such year up to the day immediately prior to the Benefit Commencement Date from such accounts to such Transferring Employees (the “Net FSA Balance”). If the Net FSA Balance is (a) positive, the Cousins Group shall pay to the New Parkway Group an amount in cash equal to the Net FSA Balance or (b) negative, the New Parkway Group shall pay to the Cousins Group, the absolute value of the Net FSA Balance attributable to Transferring Parkway Employees. New Parkway or its applicable Subsidiary shall cause the balance (whether positive or negative) of each Transferring Employee’s accounts under the Cousins Cafeteria Plans as of the Benefit Commencement Date to be credited to the Transferring Employee’s corresponding accounts under the New Parkway Cafeteria Plan in which such Transferring Employee participates following the Benefit Commencement Date. On and after the Benefit Commencement Date, New Parkway shall assume and be solely responsible for all claims for reimbursement by the Transferring Employees with respect to the plan year that includes the Distribution Date, whether incurred prior to, on or after the Distribution Date, that have not been paid in full as of the Benefit Commencement Date, which claims shall be paid pursuant to and under the terms of the New Parkway Cafeteria Plan. New Parkway agrees to cause the New Parkway Cafeteria Plan to honor, through the end of the calendar year in which the Distribution Date occurs, the elections made by each Transferring Employee under the Cousins Cafeteria Plans in respect of the flexible spending reimbursement accounts that are in effect immediately prior to the Benefit Commencement Date.

  • Deferred Compensation Program ‌ Unit members shall continue to be eligible to join the County’s Deferred Compensation Plan. Said employees will be bound by the same Plan, rules and participation agreements as are generally applicable to other County employees. DSA acknowledges that County retains the right to alter, amend, or repeal the current plan, rules, and participation agreements, at any time. The County shall not charge an administrative fee to participating employees.

  • BENEFIT FUND The Trustees are authorized and directed to establish a study committee to review the legality, feasibility and desirability of setting up and maintaining an employee funded Section 125 Flexible Spending Account (FSA). If an FSA is determined to be legal, feasible and desirable in this context, the Trustees are further authorized and directed to establish such an arrangement and offer it to employees covered by this Agreement; provided that the FSA shall not be offered to employees of any Employer who is unwilling or unable to permit employee participation in the FSA.

  • Same Sex Benefit Coverage An employee who co-habits with a person of the same sex, and who promotes such person as a "spouse" (partner), and who has done so for a period of not less than twelve (12) months, will be eligible to have the person covered as a spouse for purposes of Medical, Extended Health, and Dental benefits.

Time is Money Join Law Insider Premium to draft better contracts faster.