Insurance Option. Employees who are entitled to full Board paid insurance benefits and choose not to enroll in the Board's health benefits package shall receive an "opt out" payment of $1,200.00 for hospitalization, medical, surgical and major medical, and an "opt out" payment of $350 for dental coverage for each year not enrolled. Said amounts are to be paid in two (2) installments, the first at the end of January, and the second at the end of July. Such payments are not a part of salary for the purpose of retirement. The opt out payment amount will be processed through an appropriate IRS Plan.
Appears in 5 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
