REGULAR CONTRIBUTIONS: NEW EMPLOYEES AND OPT-OUT EMPLOYEES Sample Clauses

REGULAR CONTRIBUTIONS: NEW EMPLOYEES AND OPT-OUT EMPLOYEES. Employees who are hired after the date of ratification of this Agreement by both parties (“new employees”) and those current employees who elect irrevocably to opt out of (waive) the City’s obligation to pay health insurance premiums for them upon retirement, as provided in Section 18.6 (“opt-out employees”), shall be entitled to retiree health insurance by means of their participation in the RHSP but shall not be eligible for City-paid health insurance premiums upon retirement as provided by Section 18.5. For each such new employee and opt-out employee, the City shall contribute on or about the first payroll date in January (“the contribution date”) during each year of this Agreement remaining after the date of ratification of the Agreement by both parties, or upon the successful conclusion of an employee’s probationary period, if later, $1,000 plus .25 percent (one-quarter of one percent) of annual salary as of the contribution date to the employee’s Retiree Health Savings Plan account maintained by ICMA-RC.
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Related to REGULAR CONTRIBUTIONS: NEW EMPLOYEES AND OPT-OUT EMPLOYEES

  • Regular Employees Service credit shall be the period of employment with the Company and any service restored as per Part A, Item 5.3.

  • Eligible Employees Regular and probationary, full time and less than full-time employees (on a pro rata basis) are eligible to participate in this program. Sec. 903 COURSES ELIGIBLE: The following criteria will be used in determining eligibility for reimbursement:

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • All Employees The Company shall not include the shift differential in any employee’s wage rate for the calculation of overtime.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Shift Employees Employees who work rotating shift patterns or those who work qualifying shifts shall be entitled, on completion of 12 months employment on shift work, to up to an additional 5 days annual leave, based on the number of qualifying shifts worked. The entitlement will be calculated on the annual leave anniversary date. Qualifying shifts are defined as a shift which involves at least 2 hours work performed outside the hours of 8.00am to 5.00pm, excluding overtime. Number of qualifying shifts per annum Number of days additional leave per annum 121 or more 5 days 96 – 120 4 days 71 – 95 3 days 46 – 70 2 days 21 – 45 1 day

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Current Employees Employees who are eligible to participate but not deferring shall have Elective Deferrals withheld in the amount of ______ % of Compensation or $_________ of Compensation. Employees and Participants shall have the right to amend the stated automatic Elective Deferral percentage or receive cash in lieu of deferral into the Plan.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.