Fringe Benefit Plan. The district fringe benefit plan is a Section 125 Cafeteria (Salary Reduction) Plan. Each full time teacher may select from the options provided by the district. The Board of Education reserves the right to select the insurance carriers and benefits of this program. The Board of Education will pay up to $320.00 per month toward the cost of health insurance for each employee enrolled in the district health plan. The monthly payment shall be applied to the purchase of the group health insurance plan and may not be taken as cash or any other benefit. Upon termination or non-renewal of the teacher’s contract of employment, for any reason, all Board payments of fringe benefits shall terminate on the date employment with the district ceases. The insurance carrier will bear the responsibility of explaining the various options and cost factors for each option to the employees covered by this agreement.
Fringe Benefit Plan. 1. A flexible fringe benefit program shall be established to comply with Section 125 of the Internal Revenue Code.
Fringe Benefit Plan. The Board shall provide for fringe benefits through a flexible benefit plan under and in compliance with the provisions of Section 125 of the Internal Revenue Code, related statutory provisions, and applicable regulations. Any administrative costs for individual offerings within the Section 125 plan will be the responsibility of the employee choosing that option.
Fringe Benefit Plan. During the Term, the Executive shall be entitled to participate in all plans and receive all rights and benefits for which he shall be eligible under any pension, deferred compensation, health, hospitalization, disability or group life insurance or other so-called "fringe" benefit plan which the Company provides for its executives generally. After the Term and until the Executive reaches age 65, the Executive shall be entitled to participate, at his expense, in all plans and receive all rights and benefits for which he shall be eligible under any pension, deferred compensation, health, hospitalization, disability or group life insurance or other so-called "fringe" benefit plan which the Company provides for its executives generally.
Fringe Benefit Plan. The district fringe benefit plan is a Section 125 Cafeteria (Salary Reduction) Plan. Each full time teacher may select from the options provided by the district. The Board of Education reserves the right to select the insurance carriers and benefits of this program. The Board of Education will pay $448 per month or the price of the lowest single premium (whichever is lower) toward the cost of health insurance for each employee enrolled in the district health plan. The monthly payment shall be applied to the purchase of the group health insurance plan and may not be taken as cash or any other benefit. Upon termination or non- renewal of the teacher’s contract of employment, for any reason, all Board payments of fringe benefits shall terminate on the date employment with the district ceases. The insurance carrier will bear the responsibility of explaining the various options and cost factors for each option to the employees covered by this agreement. Starting in October 2020, the Board offers a 403(b) contribution match of $25 per month. The Board of Education reserves the right to select the insurance carriers and benefits of this program.
Fringe Benefit Plan. The College shall provide for fringe benefits through a flexible benefit plan under and in compliance with the provisions of Section 125 of the Internal Revenue Code, related statutory provisions, and applicable regulations. Any administrative cost for individual offerings within the Section 125 plan will be the responsibility of the employee choosing that option. For each faculty member electing to participate in the group health insurance plan, the College shall also provide a contribution equal to the cost of a single option coverage, OR a contribution of the amount of a single option coverage toward a family option coverage, OR a contribution of twice the amount of a single option coverage when two faculty members covered by one health insurance contract are eligible for a contribution. Faculty members employed less than the required time as stipulated by the insurance provider are not eligible for coverage or membership in the group plan. The College will not pay the single option per month to the salary or other benefit in lieu of health insurance coverage.
Fringe Benefit Plan. 40.1 The Board will provide and operate a “Cafeteria” plan in concordance with provisions of Oklahoma State Law.
Fringe Benefit Plan. All SEIU staff shall participate in the district’s health insurance program. The month following the completion of the 2018-2019 negotiations, staff employed prior to September 17, 2007 will have the difference in cost between their current district-paid health insurance plan and what the district pays for other classified staff, added to their hourly wage. If the employee DOES NOT participate in the Wellness Incentive Program and qualify for the incentive, non-participation and/or non- qualification will result in a payroll reduction to collect the discounted difference. All new employees AFTER September 17, 2007 will be furnished with SINGLE coverage ONLY. (Approved 9/17/07). A health insurance advisory committee will be created to include three (3) SEIU members, three (3) HNEA members, and three (3) district representatives.
Fringe Benefit Plan. The district fringe benefit plan is a Section 125 Cafeteria (Salary Reduction) Plan. Each full time teacher may select from the options provided by the district. The Board of Education reserves the right to select the insurance carriers and benefits of this program. The Board of Education will pay $610.00 per month or the price of the lowest single premium (whichever is lower) toward the cost of health insurance for each employee enrolled in the district health plan. The monthly payment shall be applied to the purchase of the group health insurance plan and may not be taken as cash or any other benefit. Upon termination or non-renewal of the teacher’s contract of employment, for any reason, all Board payments of fringe benefits shall terminate on the date employment with the district ceases. The insurance carrier will bear the responsibility of explaining the various options and cost factors for each option to the employees covered by this agreement. Starting in October 2020, the Board offers a 403(b) contribution match of $25.00 per month for each full-time teacher. The Board of Education reserves the right to select the insurance carriers and benefits of this program. Teacher Retirement Written Notification will be given to the Superintendent on or before January 5th of the current contract year for teachers to be eligible for district retirement benefits. The Board will consider giving retirement benefits to late notification employees on an individual basis. Teachers retiring from service to the district will be awarded pay for unused sick (universal) leave as per Article VII and a retirement supplement based on the following schedule: ● 10-14 years of service = 30 days of daily salary ● 15-19 years of service = 40 days of daily salary ● 20 or more years of service = 50 days of daily salary To be eligible to receive this retirement benefit, teachers must be eligible for KPERS full retirement or permanent disability benefits and, in addition, actually be receiving disability or retirement benefits according to KPERS. For purposes of this provision, “daily salary” means the salary computer according to the salary schedule in effect for the year of retirement divided by the number of contact days of the employee.
Fringe Benefit Plan. This shall mean a pension, retirement, profit-sharing, stock purchase, stock option, vacation, deferred compensation, bonus or other incentive plan, or other employee benefit program, arrangement, agreement, or understanding, or medical, vision, dental, or other health plan, or life insurance or disability plan, or any other employee benefit plans, including, without limitation, any "employee benefit plan" as defined in Section 3 (3) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), whether formal or informal, written or oral, to which the Seller contributes, or is a party, or is bound, or under which it may have liability, and under which employees or former employees of the Seller (or their beneficiaries) are eligible to participate or derive a benefit.
