MERP Sample Clauses

MERP. Medical Expense Reimbursement Plan will be offered to employees and their eligible dependents who waive the Prime Healthcare medical plan and enroll in a non-Prime Healthcare group medical plan. See attached description Appendix D
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MERP. The City shall allow bargaining unit members to participate in the Washington State Council of Firefighters M.E.R.P. (Medical Expense Reimbursement Program). By acting as a payroll agent, the City shall withdraw the contribution amount (on a pre-tax basis) from each bargaining unit member’s salary, and forward the monies to the WSCFF Employee Benefit Trust. The Union will provide the assistance of the Treasurer from IAFF Local 1604, if needed and requested by the City to assist with setup and troubleshooting. The only obligation of the City shall be to perform payroll deduction during the term of the contract. The City shall have no legal obligation(s) to MERP. The contribution rate shall be deducted from the employee’s paycheck on a pre-tax basis at a monthly rate established by the Union for this bargaining unit. The Union shall have the option to adjust the contribution annually. These contributions shall be included as salary for the purpose of calculating retirement benefits, to the extent authorized by the Department of Retirement Systems (DRS). M.E.R.P. contributions will be withdrawn in the paycheck opposite of which Union dues are withdrawn. The City will cooperate with the WSCFF Employee Benefit Trust, and the Treasurer from IAFF Local 1604 in allowing a payroll audit to ascertain if the proper amount of contributions have been made if necessary. If a member has been enrolled in MERP and promotes out of the Bargaining Unit, that member will be allowed to continue participation in the MERP program.
Sample 1
MERP. The City and Union agree to implement the MERP as follows: a) MANDATORY PARTICIPATION All current and future employees, including those enrolled in the City RHS plan, must fully and irrevocably participate in the MERP, including all monthly contributions and any conversions of leave conducted under this agreement. b) MONTHLY CONTRIBUTIONS In lieu of educational incentives, the City shall make $75 monthly contributions for eligible employees on a pre-tax basis to the Washington State Council of Firefighters (WSCFF) Employee Benefit Trust for the purposes of the MERP. Effective the first pay period following ratification the City shall increase the monthly contribution to $100. Effective January 1, 2017 the City shall increase the monthly contribution to $125. Contributions will begin in the month that the employee is in paid status for the first full pay period of that month. The City will neither withhold retroactively nor prospectively. The contribution rate to the Trust shall be $75 per month that an employee is in paid status for the full first pay period of the month. Effective the first pay period following ratification the City shall increase the monthly contribution to $100. Effective January 1, 2017 the City shall increase the monthly contribution to $125. The Union shall have the option to request an adjustment to the contribution rate with 30 days advance written notice to the City and in accordance with the beginning of a pay period. Any additional contributions shall be on a pre-tax basis from (and thereby reduce) the salary of each employee. Any adjustments to the contribution rate shall be in accordance with IRS rules and regulations to ensure favorable tax treatment. c) CONVERSION OF RETIREE SICK LEAVE CASH OUT FOR SERVICE CREDIT IN THE MERP Upon retirement, the City shall make contributions to the WSCFF Employee Benefit Trust in an amount equal to a maximum of 1,000 hours of combined, accumulated contract sick leave and WA State Paid Sick leave at the rate of 30% for LEOFF II members, provided that the maximum contribution shall be 300 hours of sick leave. The dollar amount of the contribution shall be calculated at the hourly equivalent rate of the employee’s base pay. All qualifying employees must participate in the conversion and contribute the full 30% up to the 300-hour maximum into the plan thereby eliminating the cash out option. In the event the sick leave contributions are no longer applied to the MERP, they will be cashed out per ...
Sample 1
MERP. During the term of Executive's employment hereunder, Executive shall be reimbursed by the Company for all out of pocket medical and dental expenses incurred by Executive or his eligible dependents and not otherwise paid or provided for under any medical or dental plan maintained for the benefit of Executive.
Sample 1
MERP. 1. The Employer shall make monthly deductions on a pre-tax basis from the base salary of each Employee for the WSCFF Employee Benefit Trust Medical Expense Reimbursement Plan (MERP) at the rate of $150.00 per month. 2. This Trust remains separate and apart from any District retiree health insurance funding program. 3. The Employer shall be obligated for payment of the contribution amount to the WSCFF Employee Benefit Trust MERP by the 10th of every month for that month’s contribution. 4. The Employer will cooperate with the Trust in allowing a payroll audit to ascertain if the proper amount of contributions has been made. 5. Due to the payroll process, the deductions will begin one month prior to the effective starting date of the MERP.
Sample 1

Related to MERP

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.

  • SERP Executive is a participant in the BB&T Corporation Non-Qualified Defined Benefit Plan (the “SERP”). The SERP was formerly known as the Branch Banking and Trust Company Supplemental Executive Retirement Plan. The SERP is a non-qualified, unfunded supplemental retirement plan which provides benefits to or on behalf of selected key management employees. The benefits provided under the SERP supplement the retirement and survivor benefits payable from the Pension Plan. Except in the event the employment of Executive is terminated by the Employer or BB&T for Just Cause and except in the event Executive terminates Executive’s employment for any reason other than Good Reason and such termination does not occur within twelve (12) months after a Change of Control (or, if later, within ninety (90) days after a MOE Revocation), the following special provisions shall apply for purposes of this Agreement: (i) The provisions of the SERP shall be and hereby are incorporated in this Agreement. The SERP, as applied to Executive, may not be terminated, modified or amended without the express written consent of Executive. Thus, any amendment or modification to the SERP or the termination of the SERP shall be ineffective as to Executive unless Executive consents in writing to such termination, modification or amendment. The Supplemental Pension Benefit (as defined in the SERP) of Executive shall not be adversely affected because of any modification, amendment or termination of the SERP. In the event of any conflict between the terms of this Section 1.7.7(i) and the SERP, the provisions of this Section 1.7.7 (i) shall prevail. Executive hereby agrees and consents to Employer’s amendment of the SERP to comply with Section 409A.

  • Health Care Savings Plan As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator. Subd. 1. All ASF Members who receive severance pay as defined in Section A of this article must participate in the health care savings plan. Subd. 2. All severance pay as defined in Section B of this article shall be transferred to the severed employee's health care savings plan account. At the time of separation, if an ASF Member has an approved exception to participation in the health care savings plan account from the plan administrator, then the ASF Member shall receive this payment in one lump sum payment of cash.

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Insurance Plan 19.01 The Employer agrees to contribute the indicated percentage of the premium cost of the following group plans for full-time employees (and their families where applicable) who have completed their probationary period.

  • Salaried Employees Employees in this unit who qualify for exemption from the FLSA overtime provisions based upon duties and who are receiving the Project Manager bonus, as provided for in this MOU, shall be treated as salaried employees, in accordance with the provisions of the FLSA as identified in LAAC section 4.113(b). Salaried employees may be assigned 5/40, 4/10 9/80 or other schedules at the discretion of Management. Notwithstanding any LAAC and MOU provisions, or other City department rules and regulations to the contrary, these employees shall not be required to record specific hours of work for compensation purposes, although hours may be recorded for other purposes. These employees will be paid the predetermined salary for each biweekly pay period, as indicated in the appropriate salary appendices, and shall not receive overtime compensation. Salaried employees shall not be subject to deductions from salary or any leave banks for absences from work of less than a full workday. This provision applies to occasional partial day absences from work which are authorized by the appropriate supervisor designated by management. This provision does not apply to long-term or recurring partial day absences (e.g., intermittent leave/reduced work schedule for purposes of Family/Medical Leave). Salaried employees shall not be subject to disciplinary suspension for a period of less than a workweek (seven days; half of the biweekly pay) unless based on violations of a safety rule of major significance. This requirement shall be superseded by the revised Department of Labor FLSA regulations pertaining to disciplinary suspensions of FLSA-exempt employees on the operative date of the FLSA regulations. The appointing authority of each City department may grant time off for hours worked due to unusual situations.

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • 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.

  • Group Life Insurance Plan Eligibility

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