In Lieu of Benefits. If the Unit Member is not required to have medical and dental coverage costing $160.00, then the difference between that amount and the cost of the required coverage may be used to purchase other approved insurance programs through the IRS Section 125 Plan, or be paid to the Unit Member in cash. Such cash shall 16 Article 16- Section 2 Medical Insurance Language Amended 11/05. Section 3 New Language Regarding Retirement Benefits Added in Amended 02/04; Article 16, Section 1, 2, 3, 4 Added/Amended 01/05; and Section
Appears in 3 contracts
In Lieu of Benefits. If the Unit Member is not required to have medical and dental coverage costing $160.00, then the difference between that amount and the cost of the required coverage may be used to purchase other approved insurance programs through the IRS Section 125 Plan, or be paid to the Unit Member in cash. Such cash shall be treated as earned income and, therefore, taxed. However, each Unit Member 16 Article 16- Section 2 Medical Insurance Language Amended 11/05. Section 3 New Language Regarding Retirement Benefits Added in Amended 02/04; Article 16, Section 1, 2, 3, 4 Added/Amended 01/05; and Section
Appears in 2 contracts
