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). 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: 1. Proof that the employee and all individuals for whom the employee intends to claim a personal exemption deduction (“tax family” is defined as individuals the employee expects to claim for personal tax exemption deductions), have or will have minimum essential coverage through another source (other than coverage in the individual market, whether or not obtained through Covered California) for the plan year to which the opt out arrangement applies (“opt out period”); and
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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: 1. Proof that the employee and all individuals for whom the employee intends to claim a personal exemption deduction (“tax family” is defined as individuals the employee expects to claim for personal tax exemption deductions), have or will have minimum essential coverage through another source (other than coverage in the individual market, whether or not obtained through Covered California) for the plan year to which the opt out arrangement applies (“opt out period”); and
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 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. 1. Employees hired or promoted into this bargaining unit on or before June 4, 2018: These individuals are eligible to receive up to $960 per month as cash unless enrollment in one of the cafeteria plans results in the use of some of the allowance to cover premiums. 2. Employees hired or promoted into this bargaining unit on or after June 5, 2018: These individuals are eligible to receive up to $750 per month if their original hire date with the City is on or before September 8, 2010 and up to $400 per month for employees with an original hire date on or after September 9, 2010. Employees who opt out of the CalPERS medical plan and receive cash must provide the following: 1. Proof that the employee and all individuals for whom the employee intends to claim a personal exemption deduction (“tax family” is defined as individuals the employee expects to claim for personal tax exemption deductions), have or will have minimum essential coverage through another source (other than coverage in the individual market, whether or not obtained through Covered California) for the plan year to which the opt out arrangement applies (“opt out period”); and
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Related to FLEXIBLE BENEFIT CONTRIBUTION

  • Flexible Benefit Plan The District will maintain, at no cost to the employee, a flexible spending benefit plan pursuant to Section 125 of the Internal Revenue Code, with operating procedures determined by the District in accordance with IRS regulations. This plan may be used for favorable income tax treatment of the employee’s health and dental premium contributions, deductibles, co-insurance amounts, other unreimbursed medical expenses, and dependent care assistance.

  • 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 Insurance Program

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. 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.

  • 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 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.

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the member who is covered under a high deductible health plan. The member must be covered under the HSA plan for the months in which contributions are made. HIGH DEDUCTIBLE HEALTH PLAN (HDHP) is a health plan that satisfies certain requirements with respect to deductibles and out-of-pocket expenses. The plan cannot provide payment for any covered healthcare service until the plan year deductible is satisfied, with the exception of preventive care services. • that provides medical and surgical care for patients who have acute illnesses or injuries; and • is either listed as a hospital by the American Hospital Association (AHA) or accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO).

  • Health Care Savings Plan As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator. Subd. 1. All ASF Members who receive severance pay as defined in Section A of this article must participate in the health care savings plan. Subd. 2. All severance pay as defined in Section B of this article shall be transferred to the severed employee's health care savings plan account. At the time of separation, if an ASF Member has an approved exception to participation in the health care savings plan account from the plan administrator, then the ASF Member shall receive this payment in one lump sum payment of cash.

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