Flexible Benefits Allowance Sample Clauses

Flexible Benefits Allowance. The City shall provide a contribution to the City’s flexible benefits plan (125 plan) for each full-time employee in regular or probationary status who is enrolled in one of the CalPERS medical insurance plans offered by the City. Employees can use this contribution to offset the cost of benefits purchased through the plan. The value of any flexible benefit allowance provided by the City under this Section shall be determined as follows: A. Effective the pay period that includes July 1, 2015, the allowance provided to an eligible employee shall be equal to one hundred percent (100%) of the premium cost for health insurance coverage based on the employee’s plan selection and participation level (e.g., Employee only coverage, Employee +1 coverage, or Employee +2 coverage), less the amount of any contribution provided under Section 7.01, Medical Insurance, above. The City’s maximum contribution under this section shall not exceed the cost of one hundred percent (100%) of the Bay Area Kaiser benefit plan as determined by the employee’s participation level, less the City’s contribution towards medical benefits under PEMHCA, except that in no event shall the sum of the City’s contribution pursuant to the provisions of this Section and Section 7.01, Medical Insurance of this Memorandum of Understanding exceed one hundred percent (100%) of the premium cost for the CalPERS medical insurance plan in which the employee is enrolled. B. The City shall continue to provide a Flexible Benefit Allowance as provided in this Section unless amended or repealed by the City Council. C. Contributions to an employee’s Flexible Benefits Account shall be used only for payment of those benefits that are available through the City’s Flexible Benefit Plan. The City will not treat any contributions made to the Flexible Benefits Plan as compensation subject to income tax withholding unless the Internal Revenue Service and/or the Franchise Tax Board indicates that such contributions are taxable income subject to withholding. Each employee shall be solely and personally responsible for any Federal, State, or local tax liability of the employee that may arise out of the implementation of this section or any penalty that may be imposed therefore. D. Each employee shall file an election in writing during the month of open enrollment for medical insurance each year designating how the contributions in the employee’s Flexible Benefit Account are to be spent during the ensuing year. Thereafter,...
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Flexible Benefits Allowance. The City shall provide a contribution to the City’s flexible benefits plan (125 plan) for each full-time employee in regular or probationary status who is enrolled in one of the PERS medical insurance plans offered by the City. Employees can use this contribution to offset the cost of benefits purchased through the plan. The value of any flexible benefit allowance provided by the City under this Section shall be determined as follows: A. Effective the pay period including July 1, 2017, the allowance provided to an eligible employee shall be equal to ninety percent (90%) of the premium cost for health insurance coverage based on the employee’s plan selection and participation level eligibility (e.g., Employee only coverage, Employee + 1 coverage, or Employee + 2 coverage), less the amount of any contribution provided under Section 7.01, Medical Insurance, above. The City’s maximum contribution under this Section shall not exceed the cost of ninety percent (90%) of the premium for the second most expensive benefit plan as determined by the employee’s participation level, less the City’s contribution toward medical benefits under PEMHCA. In no event shall the sum of the City’s contributions pursuant to the provisions of this Section and Section 7.01, Medical Insurance of this Memorandum of Understanding exceed ninety percent (90%) of the premium cost for the PERS medical insurance plan in which the employee is enrolled. B. Effective the pay period including January 1, 2020, the allowance provided to an eligible employee shall be equal to ninety percent (90%) of the premium cost for health insurance coverage based on the employee’s plan selection and participation level eligibility (e.g., Employee only coverage, Employee + 1 coverage, or Employee + 2 coverage), less the amount of any contribution provided under Section 7.01, Medical Insurance, above. The City’s maximum contribution under this Section shall not exceed the cost of ninety percent (90%) of the premium for the fourth most expensive benefit plan as determined by the employee’s participation level, less the City’s contribution toward medical benefits under PEMHCA. In no event shall the sum of the City’s contributions pursuant to the provisions of this Section and Section 7.01, Medical Insurance, of this Memorandum of Understanding exceed ninety percent (90%) of the premium cost for the PERS medical insurance plan in which the employee is enrolled, and in no event will an employee contribute less than...
Flexible Benefits Allowance. The City shall provide a contribution to the City’s flexible benefits plan (125 plan) for each full-time employee in regular or probationary status who is enrolled in one of the PERS medical insurance plans offered by the City. Employees can use this contribution to offset the cost of benefits purchased through the plan. The value of any flexible benefit allowance provided by the City under this Section shall be determined as follows: A. Effective the pay period including January 1, 2020, the allowance provided to an eligible employee shall be equal to ninety percent (90%) of the premium cost for health insurance coverage based on the employee’s plan selection and participation level eligibility (e.g., Employee only coverage, Employee + 1 coverage, or Employee + 2 coverage), less the amount of any contribution provided under Section 7.01, Medical Insurance, above. The City’s maximum contribution under this Section shall not exceed the cost of ninety percent (90%) of the premium for the fourth most expensive benefit plan as determined by the employee’s participation level, less the City’s contribution toward medical benefits under PEMHCA. In no event shall the sum of the City’s contributions pursuant to the provisions of this Section and Section 7.01, Medical Insurance, of this Memorandum of Understanding exceed ninety percent (90%) of the premium cost for the PERS medical insurance plan in which the employee is enrolled, and in no event will an employee contribute less than ten percent (10%) towards the premium cost of the CalPERS medical insurance plan in which the employee is enrolled. B. The City shall continue to provide Flexible Benefit Allowances as provided in this Section unless amended or repealed by the City Council. C. Contributions to an employee's Flexible Benefits Account shall be used only for payment of those benefits that are available through the City’s Flexible Benefit Plan. The City will not treat any contributions made to the Flexible Benefits Plan as compensation subject to income tax withholding unless the Internal Revenue Service and/or the Franchise Tax Board indicates that such contributions are taxable income subject to withholding. Each employee shall be solely and personally responsible for any Federal, State, or local tax liability of the employee that may arise out of the implementation of this Section or any penalty that may be imposed therefore. D. Each employee shall file an election in writing during the month of open enr...
Flexible Benefits Allowance. The City shall provide a contribution to the City’s flexible benefits plan (125 Plan) for each full-time employee in regular or probationary status who is enrolled in one of the PERS medical insurance plans offered by the City. Employees can use this contribution to offset the cost of benefits purchased through the plan. The value of any flexible benefit allowance provided by the City under this Section shall be determined as follows: A. Eligible employees shall receive an allowance equal to ninety percent (90%) of the premium cost for health insurance coverage based on the employee’s plan selection and participation level eligibility (e.g., Employee only coverage, Employee + 1 coverage, or Employee + 2 coverage), less the amount of any contribution provided under Section 6.01 above. The City’s maximum contribution under this Section shall not exceed the cost of ninety percent (90%) of the premium for the second most expensive benefit plan (currently Blue Shield) as determined by the employee’s participation level, less the City’s contribution towards medical benefits under PEMHCA, except that, in no event shall the sum of the City's contributions pursuant to the provisions of Sections 6.01 and 6.02 of this Memorandum of Understanding exceed ninety percent (90%) of the premium cost for the PERS medical insurance plan in which the employee is enrolled.

Related to Flexible Benefits Allowance

  • Flexible Spending Account The parties agree that the State shall have the right to use State Employee Health Plan funds to cover the administrative costs of operating the medical and dependent care flexible spending account programs.

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