Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's share of the premiums will be deducted from Employee's severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages.
(b) Employee's leased vehicle shall be made available to Employee through the Severance Pay Period at which time Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it to ARAMARK.
(c) Employee's eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation and any stock option or ownership plans, shall terminate as of the effective date of Employee's termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.
Other Post-Employment Benefits. Effective July 1, 2012, members of the Fire Department shall contribute one-half percent (½%) of the member’s salary toward the Other Post Employment Benefits (“OPEB”) obligation of the Town. Effective July 1, 2014, said OPEB contribution shall increase to one percent (1%) of the member’s salary.
Other Post-Employment Benefits. (“OPEB”) and Pension Costs
Other Post-Employment Benefits. (a) Basic Group -medical and life insurance coverages shall continue under then prevailing terms daring the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's share of the premiums will be deducted from Employee's severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages.
(a) If, at the time of termination, ARAMARK is providing Employee with a leased vehicle, then ARAMARK will continue to provide the leased vehicle through the Severance Pay Period under the same terms and conditions as in effect at the time of the Employee's termination. At the expiration of the Severance Pay Period, Employee must return the leased vehicle to ARAMARK unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect, If Employee is receiving a car allowance at the time of the Employee's termination, such car allowance will continue to be paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance.
Other Post-Employment Benefits. Such negotiations shall be subject to the impasse/fact-finding procedures of Xxxxxxxxxx County Code Section 33-153.
Other Post-Employment Benefits. In addition to the benefits provided elsewhere in this Agreement, for a period of five years after the termination of Executive's employment with the Company (by the Company or Executive for any reason), at the Company's expense, the Executive shall be entitled to participate in all group health and insurance programs and all other benefits, fringe benefits and perquisites available generally to senior executives of the Company (including in the case of health programs, continued coverage for the Executive's spouse and eligible dependents). In the event that the Executive's participation in any such plan or program is prohibited by operation of law or by the terms of such plan or program as in effect immediately preceding the date of termination of employment, the Company shall arrange to provide the Executive, at the Company's expense, with benefits substantially similar to those which the Executive would have been entitled to receive under such plans and programs.
Other Post-Employment Benefits. This Article will sunset on July 1, 2012, and will not be in effect for any employee hired on or after this date. After fifteen (15) years of satisfactory service with the District and upon reaching the age of fifty (50), an employee will become eligible for early retirement insurance protection. The District will pay the level of medical, vision and dental benefits for the employee and dependents at the level all other same hours employees receive for five (5) years, unless the employee becomes eligible for Medicare. The employee will then be allowed to continue to receive medical, vision, and dental insurance benefits, provided such coverage is offered by the insurer, at his or her own expense until eligibility for Medicare.
Other Post-Employment Benefits. Effective July 1, 2013 all members shall pay a sum of eleven dollars and fifty- three ($11.53) cents bi-weekly for a total of three hundred ($300.00) dollars per year toward their OPEB (Other Post Employment Benefits). The City agrees that they will place these monies in a restricted account toward p o s t retirement benefits. Effective July 1, 2016 all members shall pay a sum of thirteen dollars and forty-seven ($13.47) cents bi-weekly for a total of three hundred and fifty ($350.00) dollars per year toward their OPEB (Other Post Employment Benefits). The City agrees that they will place these monies in a restricted Effective July 1, 2017 all members shall pay a sum of fifteen dollars and thirty- nine ($15.39) cents bi-weekly for a total of four hundred ($400.00) dollars per
Other Post-Employment Benefits. Delete, commencing on the first payroll after the ratification of this agreement by the Union and the Town Council. [Proposal withdrawn]
Other Post-Employment Benefits. (OPEBs): The rates resulting from this case also make provision for the recovery of OPEB costs on an ASC 715 (previously FAS 106) basis. The Company shall continue to be authorized to apply its accounting policy for OPEBs consistent with ASC 715 (previously FAS 87) for pensions, for financial reporting purposes, as was initially effective October 1, 2002. The rates established in this case for ASC 715 (previously FAS 106) expenses include an allowance of $0 for Spire Missouri East and $0 for Spire Missouri West (amounts stated prior to application of transfer rate). The Company will fund the trusts based on ASC 715 (previously FAS 106) as calculated for financial reporting purposes. The difference between the amount of OPEB expense included in the rates of Spire Missouri East and Spire Missouri West and the amount funded by them shall be recorded in a regulatory asset/liability, as appropriate, and such difference shall be recovered from or returned to customers in future rates and included in rate base in future rate proceedings. The Company may consider the funded status of the OPEB trusts in determining the allocation of contributions to the trusts. The rates recommended herein include an allowance to amortize the September 30, 2022 balance of Spire Missouri East and Spire Missouri West’s OPEB liabilities of ($7,111,585) and ($1,005,031) [negative], respectively (amounts stated before the application of transfer rates). Such an allowance is based on an 8-year amortization of Spire Missouri East’s OPEB liability of ($888,948) [negative] and Spire Missouri West’s OPEB liability of ($125,629) [negative] at September 30, 2022.
