Shared Savings Plan Sample Clauses

Shared Savings Plan. Teachers electing to reduce their coverage must do so by February lst with the provisions of this section taking effect on July lst. Payment of the employee share shall begin with the first half-payment on October 5th and a second half-payment on April l5th. Full coverage may be reinstated by notifying the district in writing no later than February 1st. Reinstatement shall take place on July 1st. The District shall waive the February lst notification date if the teachers' status changes drastically so as to cause severe hardship as a result of the teachers' election to reduce coverage. Such circumstances are limited to death of a spouse, loss of a spouse's employment, or loss of spouse's insurance coverage. At the teacher’s option, any teacher may reduce medical insurance coverage by completing an appropriate form furnished by the district. Any teacher changing from family to individual coverage or waiving family or individual coverage shall receive, as salary, 50% of the premium savings, less the costs of retirement, social security, or other fringes. Effective with the 2011-2012 school year, any teacher waiving individual coverage shall receive payment of $2,300. Any teacher waiving family coverage shall receive payment of $6,000. Any teacher changing from family to individual coverage shall receive payment of $3,500.
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Shared Savings Plan. Each employee, other than school security officers, who have retiree health insurance from another source, who can demonstrate proof of comparable alternate coverage shall have the option of applying for the benefits hereunder and shall execute all documents necessary in connection herewith. Upon approval of the employee's application hereunder, the employee will not be eligible to receive the health insurance benefits provided above and shall receive, in lieu thereof, the sum of $1000 per annum if such employee had family or two- person coverage or $500 per annum if such employee had single coverage. Half of such sums will be paid in February and half in June. Effective September 20, 1994, new hourly employees will only be entitled to the $500 per annum payment. An employee having withdrawn pursuant to this clause, may rejoin the plan only upon the repayment to the District of all sums paid to the employee during the then current school year. The purpose and intent of this clause is to enable the District to save money on the cost of health insurance benefits and to enable the employee to share in those cost savings. Where a dispute arises in reference to this clause, it will be resolved in furtherance of such mutual purpose and intent.
Sample 1
Shared Savings Plan. Under this Plan, Practice shall reimburse CCNC Inc. at a rate of two dollars ($2.00) per member per month plus one third (1/3) of any shared savings incentive payments for the Term as calculated under the Arkansas Shared Savings Plan. The two dollar per member per month fee shall be due on a net thirty (30) day basis from the date of invoicing from CCNC Inc monthly, using figures from the state of Arkansas, and the one third shared savings shall be due when calculated by the state of Arkansas under its Shared Savings Plan. i. Initial here to accept Shared Savings Plan:
Sample 1
Shared Savings Plan. At the employee’s option, any unit member may reduce District-sponsored medical insurance by completing an appropriate form furnished by the District. Such unit members shall receive the following payments: a. Waiving family health insurance - $6,000 b. Waiving family health insurance and receiving individual health insurance - $3,600 c. Waiving individual health insurance - $2,000 Employees electing to reduce their coverage must do so by February 1st of each year with the provision of this section taking effect on July 1st. Payment of the employee share begins with first half-payment on October 5th and second half-payment on April 15th. Full coverage may be reinstated by notifying the District in writing no later than February 1st. Reinstatement shall take place on July 1st. The District shall waive the February 1st notification date if the employee’s status changes drastically so to cause severe hardship as a result of the employee’s election to reduce coverage. Such circumstances are limited to death of a spouse, loss of a spouse’s employment, divorce, or loss of spouse’s insurance coverage.
Sample 1

Related to Shared Savings Plan

  • 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.

  • 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.

  • 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.

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • 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. Subd. 1. All ASF Members who receive severance pay as defined in Section A of this article must participate in the health care savings plan. Subd. 2. All severance pay as defined in Section B of this article shall be transferred to the severed employee's health care savings plan account. At the time of separation, if an ASF Member has an approved exception to participation in the health care savings plan account from the plan administrator, then the ASF Member shall receive this payment in one lump sum payment of cash.

  • Savings Plans Employee shall be entitled to participate in Employer’s 401(k) plan, or other retirement or savings plans as are made available to Employer’s other executives and officers and on the same terms which are available to Employer’s other executives and officers.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Retirement Plans (a) 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 (“Qualified 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, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Compensation Plan 1. Subject to any applicable regulation and the Company's/its contractor approval, the applicant shall choose a Compensation Plan on the Affiliate Participation Form. An Affiliate may not change the elected Compensation Plan. 2. The Company/its contractor may change an Affiliate's Compensation Plan, at any time and at its sole and absolute discretion, by sending such Affiliate a notice to such effect by e-mail. In the event Affiliate does not agree to such change, it shall notify the Company by return e-mail within three (3) days of receiving such notice from the Company, and the Agreement shall terminate immediately. In the event Affiliate does not notify the Company within three (3) days from the notice, it shall be deemed as an approval by the Affiliate to such change in the Compensation Plan. It is hereby clarified that Affiliate will continue to receive payment with respect to Traders identified by a Tracker ID prior to the date of any such change in the Compensation Plan, in accordance with the applicable Compensation Plan at the date such Traders registered to the Site(s).

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