Retirement Health Savings (RHS) Plan Sample Clauses

Retirement Health Savings (RHS) Plan. 1. During the effective term of this agreement, the City agrees to provide contributions for regular, full-time Unit employees toward a Retirement Health Savings (“RHS”) Plan, to be administered as described below. The intent of this plan is for the benefits paid to be available to fully or partially defray the costs incurred by employees for health plan premiums or medical expenses after retirement from the City. The plan shall be in lieu of any other City-funded retiree medical plan.
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Retirement Health Savings (RHS) Plan. Employees hired, transferred or promoted into the bargaining unit after July 1, 2007, who are not eligible for retiree health care (no gain – no loss), shall be eligible to participate in a Retirement Health Savings Plan. The City will contribute 6% of an employee’s gross wages on a bi-weekly basis, into a self-directed, qualified plan, that shall be transportable and provide 50% vesting after ten (10) years of employment, with a 5% annual increase until the employee is 100% vested after twenty (20) years of employment. An employee who receives a duty disability retirement as the result of an injury shall be considered to have achieved 20 years of service and will be 100% vested in the Retiree Health Saving Plan at the time of their duty-disability retirement. Accordingly, the beneficiary of an employee who is killed while on-duty and performing his/her duties will be 100% vested in the Retiree Health Savings Plan.
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Retirement Health Savings (RHS) Plan. Employees participate in the City’s Retirement Health Savings Plan (RHS) subject to the following:
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Retirement Health Savings (RHS) Plan. Employees shall contribute, once yearly on March 1st, the value of unused, accumulated sick leave to a RHS Plan, as follows:
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Retirement Health Savings (RHS) Plan. The City sponsors a Retirement Health Savings Plan administered by Mission Square Retirement. Eligible employees are required to participate in the City’s Retirement Health Savings Plan in order to receive a payout of their accrued sick leave at the time of separation from the City. All contributions to this account are set aside exclusively for qualifying medical expenses. The Plan offers tax advantage benefits, and the funds are invested through a managed fund; however, employees do have the option to control their investment decisions through their Account Access in the RHS online portal. Contributions for employees enrolled in the RHS Plan will be made in the RHS Payment Schedule listed in Article 15. Please note that eligible employees who are not enrolled in the Retirement Health Savings plan will not receive any payment of accrued sick leave at retirement or separation.
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Retirement Health Savings (RHS) Plan 
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Related to Retirement Health Savings (RHS) Plan

  • RETIREE HEALTH SAVINGS PLAN Effective, December 24, 2006, or as soon as administratively possible, the County shall establish a retiree health savings plan (RHSP) by contributing an amount of $25.00 to the employee’s RHSP each biweekly pay period.

  • 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.

  • Retirement Savings 5.6.1 Principals are eligible to join a KiwiSaver scheme in accordance with the terms of those schemes.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

  • 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.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • 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 Plans 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 (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, JHSS shall provide the following administrative services:

  • Post Retirement Health Care Benefit Employees who separate from State service and who, at the time of separation are insurance eligible and entitled to immediately receive an annuity under a State retirement program, shall be entitled to a contribution of two hundred fifty dollars ($250) to the Minnesota State Retirement System’s (MSRS) Health Care Savings Plan. Employees who have a HCSP waiver on file shall receive a two hundred fifty dollars ($250) cash payment. If the employee separates due to death, the two hundred fifty dollars ($250) is paid in cash, not to the HCSP. An employee who becomes totally and permanently disabled on or after January 1, 2008, who receives a State disability benefit, and is eligible for a deferred annuity under a State retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. Employees are eligible for this benefit only once.

  • Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the member who is covered under a high deductible health plan. The member must be covered under the HSA plan for the months in which contributions are made. HIGH DEDUCTIBLE HEALTH PLAN (HDHP) is a health plan that satisfies certain requirements with respect to deductibles and out-of-pocket expenses. The plan cannot provide payment for any covered healthcare service until the plan year deductible is satisfied, with the exception of preventive care services. HOSPITAL means a facility: • that provides medical and surgical care for patients who have acute illnesses or injuries; and • is either listed as a hospital by the American Hospital Association (AHA) or accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO).

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