Common use of Insurance Fringe Benefit Allocation for Full-time Teachers Clause in Contracts

Insurance Fringe Benefit Allocation for Full-time Teachers. Subd. 1 Each full-time teacher scheduled to hold a position for a period in excess of one hundred (100) working days in a school year will be allocated $985 per month effective July 1, 2023 and $1,065 per month effective July 1, 2024, for use in purchasing fringe benefits under this Article. Effective July 1, 2023, teachers electing Family VEBA coverage will receive an additional 25% of the fringe allocation per month for use in purchasing fringe benefits under this article. Effective July 1, 2024, teachers electing Family VEBA coverage will receive an additional 25% of the fringe allocation per month for use in purchasing fringe benefits under this article. Said allocation will be made on a prorated basis each pay period. Insurance coverage will extend through August 31 for all health insurance participants whose employment will end at the conclusion of the current school year. Subd. 2 Each teacher shall be charged as having purchased individual coverage under the Group Health and Hospitalization Insurance Plan specified in Section C, Subd. 1, the life insurance specified in Section C, Subd. 2a, the income protection insurance specified in Section C, Subd. 3, and the dental insurance specified in Section C, Subd., 4 below, whether or not the teacher authorized purchase of any of these insurance coverages. For purposes of computing the amount to be charged to each teacher's account for the purchase of insurance coverages, the rate in effect for a particular month shall be the rate billed by the carrier for that month. If a teacher elects to purchase insurance fringe benefits under Section C below which results in monthly premium charges greater than the amount allocated to the teacher's account pursuant to Subd. 1 above, any cost in excess of the teacher's monthly allocation shall be borne by the teacher and paid by payroll deduction. The monthly deduction shall be annualized and divided evenly over the number of pay periods elected by the teacher. A teacher will receive as additional compensation any money allocated to the teacher for that month which was not charged against the teacher's account for purposes of fringe benefit purchases in accordance with Subd. 1 above. The monthly unused fringe benefit allocation shall be annualized and divided evenly over the number of pay periods elected by the teacher.

Insurance Fringe Benefit Allocation for Full-time Teachers. Subd. 1 Each full-time teacher scheduled to hold a position for a period in excess of one hundred (100) working days in a school year will be allocated $985 840 per month effective July 1, 2023 2019 and $1,065 880 per month effective July 1, 20242020, for use in purchasing fringe benefits under this Article. Effective July 1, 20232020, teachers electing Family VEBA coverage will receive an additional 25% of the fringe allocation per month for use in purchasing fringe benefits under this article. Effective July 1, 2024, teachers electing Family VEBA coverage will receive an additional 2510% of the fringe allocation per month for use in purchasing fringe benefits under this article. Said allocation will be made on a prorated basis each pay period. Insurance coverage will extend If a full-time teacher hired after September 15 accepts a full-time contract for the following school year before June 1, he or she shall receive monthly allocation through August 31 for all health insurance participants whose employment will end at the conclusion of the current school yearAugust. Subd. 2 Each teacher shall be charged as having purchased individual coverage under the Group Health and Hospitalization Insurance Plan specified in Section C, Subd. 1, the life insurance specified in Section C, Subd. 2a, the income protection insurance specified in Section C, Subd. 3, and the dental insurance specified in Section C, Subd., 4 below, whether or not the teacher authorized purchase of any of these insurance coverages. For purposes of computing the amount to be charged to each teacher's account for the purchase of insurance coverages, the rate in effect for a particular month shall be the rate billed by the carrier for that month. If a teacher elects to purchase insurance fringe benefits under Section C below which results in monthly premium charges greater than the amount allocated to the teacher's account pursuant to Subd. 1 above, any cost in excess of the teacher's monthly allocation shall be borne by the teacher and paid by payroll deduction. The monthly deduction shall be annualized and divided evenly over the number of pay periods elected by the teacher. A teacher will receive as additional compensation salary, any money allocated to the teacher for that month which was not charged against the teacher's account for purposes of fringe benefit purchases in accordance with Subd. 1 above. The monthly unused fringe benefit allocation shall be annualized and divided evenly over the number of pay periods elected by the teacher.

Insurance Fringe Benefit Allocation for Full-time Teachers. Subd. 1 Each full-time teacher scheduled to hold a position for a period in excess of one hundred (100) working days in a school year will be allocated $985 880 per month effective July 1, 2023 2021 and $1,065 925 per month effective July 1, 20242022, for use in purchasing fringe benefits under this Article. Effective July 1, 20232021, teachers electing Family VEBA coverage will receive an additional 2510% of the fringe allocation per month for use in purchasing fringe benefits under this article. Effective July 1, 20242022, teachers electing Family VEBA coverage will receive an additional 2520% of the fringe allocation per month for use in purchasing fringe benefits under this article. Said allocation will be made on a prorated basis each pay period. Insurance coverage will extend through August 31 for all health insurance participants whose employment will end at the conclusion of the current school year. Subd. 2 Each teacher shall be charged as having purchased individual coverage under the Group Health and Hospitalization Insurance Plan specified in Section C, Subd. 1, the life insurance specified in Section C, Subd. 2a, the income protection insurance specified in Section C, Subd. 3, and the dental insurance specified in Section C, Subd., 4 below, whether or not the teacher authorized purchase of any of these insurance coverages. For purposes of computing the amount to be charged to each teacher's account for the purchase of insurance coverages, the rate in effect for a particular month shall be the rate billed by the carrier for that month. If a teacher elects to purchase insurance fringe benefits under Section C below which results in monthly premium charges greater than the amount allocated to the teacher's account pursuant to Subd. 1 above, any cost in excess of the teacher's monthly allocation shall be borne by the teacher and paid by payroll deduction. The monthly deduction shall be annualized and divided evenly over the number of pay periods elected by the teacher. A teacher will receive as additional compensation salary, any money allocated to the teacher for that month which was not charged against the teacher's account for purposes of fringe benefit purchases in accordance with Subd. 1 above. The monthly unused fringe benefit allocation shall be annualized and divided evenly over the number of pay periods elected by the teacher.