Common use of Fringe Benefit Plan Clause in Contracts

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 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 $448 610 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.