Traditional Plan Clause Samples
Traditional Plan. Specifications: Network Maximum Benefits Unlimited Deductibles $100/$200 Accumulation Period Calendar Year Co-Insurance Provision 80% 80% by the insurance carrier and 20% by the patient up to a yearly maximum out-of-pocket of $500 per individual or $1,000 for two or more family members. After the out-of-pocket has been met by the employee, 100% of eligible charges will be paid.
Traditional Plan. In the event of termination of this Agreement for any reason, Resident will be entitled to a refund of a portion of the Entrance Fee. The refund shall be in an amount equal to (a) thirty-three percent (33%) of the Entrance Fee or (b) if the termination occurs prior to the end of the 33-month period beginning on the date of Occupancy, the Entrance Fee reduced by 2% per month for each month (full or partial without proration) from the date of Occupancy.
Traditional Plan i. Bargaining unit members selecting a traditional plan will pay 10.5 % of the monthly insurance premium.
Traditional Plan. (A) As soon as practicable after the Closing Date and after complete compilation and transmittal by the Transferred Subsidiaries of relevant information to determine the amount to be transferred with respect to the liabilities described in this Section 5.3(b)(iii)(A), Parent shall cause the transfer from the Parent Pension Plan to the Buyer Pension Plan of assets (in accordance with paragraphs (B) and (C) below) and liabilities which are attributable to the Active Employees who are participants as of the Closing Date in the Parent Pension Plan, other than those Active Employees who are participants in the DeVilbiss Cash Balance Plan.
(B) The amount of assets to be transferred from the Parent Pension Plan shall be equal to the amount determined as of the Closing Date pursuant to Code Section 414(1), using the actuarial assumptions used by the Pension Benefit Guaranty Corporation pursuant to Section 1.414(1)-(b)(5)(ii) of the Treasury Regulations which is attributable to the Active Employees, other than the Active Employees who are participants in the DeVilbiss Cash Balance Plan, who are participants as of the Closing Date in the Parent Pension Plan (the “Transfer Amount”). The above described calculation of the amount to be transferred from the Parent Pension Plan to the Buyer Pension Plan shall be made by the Parent’s actuary. The Buyer’s actuary may comment with respect to the calculation of the amount to be so transferred, and any such comments shall, in good faith, be taken into account by Parent’s actuary. Within a reasonable period of time before the transfer, Parent’s actuary shall provide such other information as may be reasonably necessary to permit Buyer’s actuary to comment with respect to the calculation of such amount.
(C) All assets transferred under this Section 5.3(b)(iii) shall consist of cash and marketable and other liquid securities (other than Parent stock or other securities). The transfer contemplated herein shall comply with all requirements of Code Sections 414(l) and 401(a)(12). Pending completion of the transfers contemplated by this Section 5.3(b)(iii), any benefits that are payable to Active Employees under the Parent Pension Plan shall be paid out of such plan. Interest shall be paid on the Transfer Amount for the period from the Closing Date to the date of transfer at the rate of 5.0%, and the transfer amount shall be adjusted to reflect benefit payments and expenses paid after the Closing Date by the Parent Pension Plan whic...
Traditional Plan. Effective July 1, 2005, the Traditional Plan shall be closed as to all current and future members of this bargaining unit, including unit members retiring after said date. The administrative methodology for effectuating this change shall be determined by the State. Effective immediately, no new hires shall be enrolled in the Traditional Plan.
Traditional Plan. The District will contribute up to $7,250 per school year toward the annual premium for medical insurance for each full-time, twelve month employee who selects single coverage and is enrolled in the District’s group health and hospitalization plan. Any additional cost of the premium will be borne by the employee and paid by payroll deduction. The District will contribute up to $12,480 per school year toward the annual premium for medical insurance for each full-time, twelve month employee who selects dependent coverage and is enrolled in the District’s group health and hospitalization plan. Part-time employees (employees who work fewer than 40 hours per