Common use of MSRS Health Care Savings Plan Clause in Contracts

MSRS Health Care Savings Plan. Employees who, for reasons other than layoff or death, are eligible to receive severance pay shall have one hundred percent (100%) of severance pay, as defined in Article 18, Section 1, deposited to an MSRS health care savings account in lieu of payment in cash. Employees who do not meet the requirements for the health care savings account, or whose severance pay totals less than two hundred dollars ($200), shall receive the severance payment in cash.

MSRS Health Care Savings Plan. Employees who, for reasons other than layoff or death, are eligible to receive severance pay shall have one hundred percent (100%) of severance pay, as defined in Article 18, Section 1, deposited to an MSRS health care savings account in lieu of payment in cash. Employees who do not meet the requirements for the health care savings account, or whose combined vacation and severance pay totals less than two five hundred dollars ($200500), shall receive the severance payment in cash.