Minimum Employer Contribution. Qualifying ESI must include employer contributions of at least 30 percent of the total premium or cost under the employer plan.
Minimum Employer Contribution. If this Plan is a Top Heavy Plan in any Plan Year, the contribution for each Non-Key Employee shall be at least equal to a minimum contribution. The Employer shall provide the top heavy minimum contribution under this Plan. If the contribution rate for the Key Employee with the highest contribution rate is greater than or equal to 3%, the minimum contribution shall be 3% of Compensation for each Non-Key Employee. If the contribution rate for the Key Employee with the highest contribution rate is less than 3%, the minimum contribution for each Non-Key Employee shall equal the highest contribution rate for a Key Employee. The contribution rate is the sum of Employer contributions (not including Employer contributions to Social Security) and forfeitures allocated to the Key Employee's Account for the Plan Year divided by the Key Employee's Compensation for the Plan Year. To determine the contribution rate, the Committee shall treat all qualified top heavy defined contribution plans maintained by the Employer as a single plan. For Plan Years beginning after December 31, 1988, the Committee shall not treat Elective Deferrals made to any plan pursuant to a Cash or Deferred Arrangement as Employer contributions for any Non-Key Employee; however, the Committee shall treat Elective Deferrals made to any plan pursuant to a Cash or Deferred Arrangement as Employer contributions for all Key Employees. Notwithstanding the preceding provisions of this Section, if a Defined Benefit Plan maintained by the Employer which benefits a Key Employee depends on this Plan to satisfy the nondiscrimination rules of Code 401(a)(4) or the coverage rules of Code 410 (or another plan benefiting the Key Employee so depends on such Defined Benefit Plan), the minimum contribution for a Non-Key Employee shall be 3% of the Non-Key Employee's Compensation regardless of the highest contribution rate for any Key Employee. If the contribution rate for the Plan Year with respect to a Non-Key Employee is less than the minimum contribution, the Employer shall increase its contribution for such Non-Key Employee to the extent necessary so that the contribution rate for the Plan Year shall equal the minimum contribution. If more than one entity maintains this Plan, each entity shall make the additional contribution attributable to the Compensation it pays the Non-Key Employee, unless the members enter into a separate written agreement allocating the responsibility for the additional contribution in a...
Minimum Employer Contribution. All eligible retirees shall be entitled to the required minimum employer contribution upon retirement, pursuant to CalPERS PEMHCA resolution.
Minimum Employer Contribution. The City shall pay Eighty Dollars and Eighty cents ($80.80) per month on behalf of each active and retired employee who subscribes for coverage. In the event PERS requires a minimum employer payment in excess of Eighty Dollars and Eighty cents ($80.80) per month, the City shall pay such amount for the term of this MOU and the City shall subsume this contribution to the Flexible Benefits Plan pursuant to Section H. below by an amount equal to the PERS requirement. [See Work Sheet in Appendix B]
Minimum Employer Contribution. The City shall pay Eighty Dollars and Eighty cents ($80.80) per month on behalf of each active and retired employee who subscribes for coverage. In the event PERS requires a minimum employer payment in excess of Eighty Dollars and Eighty cents ($80.80) per month, the City shall pay such amount for the term of this MOU and the City shall subsume this contribution to the Flexible Benefits Plan pursuant to Article VIII Section H. above by an amount equal to the PERS requirement. [See Work Sheet in Appendix B] Not withstanding any of the above, an employee in the bargaining unit and employed by the City as of September 1, 2007 and who retirees from the City of Antioch in accordance with all the other qualifications set forth in this Appendix A as to eligibility, enrollment and coverage will receive up to either the one party or two party Kaiser PERS Bay Area rate, as the case may be, toward his or her retiree medical coverage based on the following vesting schedule. Such employee is not eligible for Plan B above. Fifty percent of the (50%) benefit level for the employee who retires with a minimum of ten (10) years but less than eleven (11) years of service. Fifty-five percent of the (55%) benefit level for the employee who retires with a minimum of eleven (11) years but less than twelve (12) years of service. Sixty percent of the (60%) benefit level for the employee who retires with a minimum of twelve (12) years but less than thirteen (13) years of service. Sixty-five percent of the (65%) benefit level for the employee who retires with a minimum of thirteen (13) years but less than fourteen (14) years of service. Seventy percent of the (70%) benefit level for the employee who retires with a minimum of fourteen (14) years but less than fifteen (15) years of service. Seventy-five percent of the (75%) benefit level for the employee who retires with a minimum of fifteen (15) years but less than sixteen (16) years of service. Eighty percent of the (80%) benefit level for the employee who retires with a minimum of sixteen (16) years but less than seventeen (17) years of service. Eighty-five percent of the (85%) benefit level for the employee who retires with a minimum of seventeen (17) years but less than eighteen (18) years of service. Ninety percent of the (90%) benefit level for the employee who retires with a minimum of eighteen (18) years but less than nineteen (19) years of service. Ninety-five percent of the (95%) benefit level for the employee who retires w...
Minimum Employer Contribution. The City shall pay Eighty Dollars and Eighty cents ($80.80) per month on behalf of each active and retired employee who subscribes for coverage. In the event PERS requires a minimum employer payment in excess of Eighty Dollars and Eighty cents ($80.80) per month, the City shall pay such amount for the term of this MOU and the City shall subsume this contribution to the Flexible Benefits Plan pursuant to Article VIII Section H. above by an amount equal to the PERS requirement. [See Work Sheet in Appendix B]. As set forth in Plan C above “benefit level” shall include all future premium increases. As premiums are adjusted so to will be the employee/City contribution level to reflect the benefit level based on the current applicable Kaiser plan rate.
Minimum Employer Contribution. Current employees who retire between ages 50-55 and enroll in a CalPERS PEMHCA medical plan shall be entitled to only the minimum Employer contribution, pursuant to CalPERS PEMHCA resolution. New hire employees (employees hired on or after January 1, 2016), shall be entitled to only the minimum employer contribution upon retirement, pursuant to CalPERS PEMHCA resolution.
Minimum Employer Contribution. (a) If this Plan is a Top Heavy Plan in any Plan Year beginning after December 31, l983, Company Contributions under all qualified plans maintained by the Company (including allocated Forfeiture Amounts by excluding Company Contributions under FICA) for Non-Key Employees who are Participants and who have not separated from service by the end of the Plan Year to which such Company Contribution relates, shall be set at a guaranteed minimum rate of Total Compensation of such Non-Key Employees. The guaranteed minimum rate shall be equal to the lesser of three percent (3%) or the highest Company Contribution rate for Key Employees. For purposes of this section, a Non-Key Employee Participant includes any Employee otherwise eligible to participate in the Plan but who is not a Participant because his or her Compensation does not exceed a specified level. Also, for purposes of this section, Non-Key Employees who have become Participants but who during the Plan Year have failed to accumulate 1000 hours of service must receive the guaranteed minimum rate provided they have not separated from service before the end of such Plan Year. To determine the contribution rate, the Plan Administrator shall consider all qualified Defined Contribution Plans maintained by the Employer as a single plan. Elective deferrals under ss.401(k) may not be utilized to satisfy this minimum contribution requirement, although they must be counted in determining whether a top-heavy minimum contribution is required for non-key employees.
Minimum Employer Contribution. To determine the MEC, the District will use the graduated method, which allows the employer to gradually increase funding to meet the MEC over a twenty year period, starting with $1 in year 1. 1 The points-based system for retiree medical benefit eligibility is set forth in District Resolution No. 2022-019, which is incorporated herein by reference.
Minimum Employer Contribution. Formula Under Top-Heavy Plans: For any Plan Year during which the Plan is Top-Heavy, the sum of the contributions (excluding Elective Deferrals and/or Matching Contributions) allocated to non-Key Employees shall not be less than the amount required under the Basic Plan Document #01. The eligibility of a Participant to receive Top-Heavy Contributions mirrors the eligibility for any contribution with the earliest Entry Date. Top-Heavy minimums will be allocated to:
