HRA Post Retirement Contribution Sample Clauses

HRA Post Retirement Contribution. A teacher may elect at any time a one-time contribution to a Health Reimbursement Account (HRA) in the amount of Fifty One Thousand, Five Dollars ($51,005). This lump sum amount will be adjusted annually by dividing the total lump sum by five (5) and multiplying by the percentage increase included in Section 2 Medical – Hospitalization Insurance or five percent (5%), whichever is greater. The election is irrevocable and the contribution will be paid within thirty (30) days after the effective date of retirement. A teacher who makes this election is also eligible for a School District sick leave buy back of a maximum of ten (10) days per year effective the school year in which the irrevocable election is made and annually thereafter provided the following requirements are satisfied: The teacher must be fifty (50) years old and must have completed fifteen (15) consecutive years of regular school year service in the School District on or before June 30th in school year for which the buyback is sought.
Sample 1
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HRA Post Retirement Contribution. A teacher may elect at any time a one-time contribution to a Health Reimbursement Account (HRA) in the amount of Forty-One Thousand Dollars ($41,000). The election is irrevocable and the contribution will be paid within thirty (30) days after the effective date of retirement. A teacher who makes this election is also eligible for a School District sick leave buy back of a maximum of ten (10) days per year effective the school year in which the irrevocable election is made and annually thereafter provided the following requirements are satisfied:
Sample 1

Related to HRA Post Retirement Contribution

  • 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.

  • Non-Retirement Savings Accounts An account maintained in the Cayman Islands (other than an insurance or Annuity Contract) that satisfies the following requirements under the laws of the Cayman Islands.

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Pre-Retirement Leave An employee scheduled to retire and to receive a superannuation allowance under the applicable Superannuation Act(s), or who has reached the mandatory retiring age, shall be entitled to:

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

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