Benefit credits definition
Benefit credits means the total amount of money payable to an individual as benefits,
Benefit credits means any amount that the Employer, in its sole discretion, may contribute on behalf of each Participant to provide benefits for such Participant, his/her or her Dependents and/or Adult Children, if applicable, under one or more of the Benefit Option(s) offered under the Plan. The amount of employer contribution that is applied towards the cost of the Benefit Option(s) for each Participant and/or level of coverage shall be subject to the sole discretion of the Employer and may be adjusted upward or downward at any time at the contributing Employer's sole discretion. The amount shall be calculated for each Plan Year in a uniform and nondiscriminatory manner and may be based upon the Participant's dependent status, commencement or termination date of the Participant's employment during the Plan Year, and such other factors as the Employer shall prescribe. To the extent set forth in the Summary Plan Description or enrollment material, the Employer may make Benefit credits available to Participants and allow Participants to allocate the Benefit credits among the various Benefit Options offered under the Plan in a manner set forth in the Summary Plan Description or enrollment material. In no event will any Nonelective Contribution be disbursed to a Participant in the form of additional, taxable Compensation except as otherwise provided in the Summary Plan Description or enrollment material.
Benefit credits means the amount, if any, credited to a non-Grandfathered Officer’s or their Eligible Dependent’s HRA Account in each Plan Year for purposes of determining the amount of benefits for which the Participant is entitled to be reimbursed pursuant to Section 6.2.
Examples of Benefit credits in a sentence
Benefit credits may be used to purchase or pay the price of each insured's benefit selected.
Employees’ Flexible Benefit credits under the “Choices” Flexible Benefit Program will be based upon the following formulas: The flex credit formula for regular full-time employees will be 1.75% of base straight-time annual wages plus $969.00.
Employees’ Flexible Benefit credits under the “Choices” Flexible Benefit Program will be based upon the following formulas: The flex credit formula for regular full-time employees will be 1.75% of base straight-time annual wages plus $925.00.
Points and Benefit credits may only be used to pay for Newk’s food and/or beverage items and cannot be used to pay for merchandise, tips, gift certificates, or delivery fees.
If you elect not to apply Points and Benefit credits in a particular transaction, no Points or Benefit credits will be used in your order and they will remain in your account until they are used or they expire.
More Definitions of Benefit credits
Benefit credits means the amount set aside for the benefits under Section 3.4 and credited to the Participant’s Benefit Account(s).
Benefit credits means the amount set aside for a Benefit Program under Section 3.1 and credited to the Participant's Premium Conversion Account.
Benefit credits means the total amount
Benefit credits means any amount which the Employer may provide to Participants to apply towards the cost of one or more of the Benefit Package Option(s) elected by the Participant. The amount of Benefit Credits allocated to eligible Participants may be adjusted upward or downward in the contributing Employer’s sole discretion. The amount of Benefit Credits and the extent of the Participant’s discretion to use the Benefit Credits shall be disclosed in Appendix C attached hereto (and/or the enrollment materials). The amount of the Benefit Credits, if any, shall be calculated each Plan Year in a uniform and nondiscriminatory manner based upon the Participant’s dependent status, commencement or termination date of the Participant’s employment during the Plan Year, and such other factors as the Employer shall prescribe. The Benefit Credits may be limited as designated in Appendix C (and/or the enrollment materials). Benefit Credits will not be disbursed to a Participant in the form of additional Compensation if the total cost of the Benefit Package Option(s) elected by the Participant is less than the Benefit Credits allocable thereto or if the Employee declines coverage under the Benefit Package Option(s), except as otherwise provided in the Appendix C attached hereto (and/or the enrollment material). Any excess shall be returned to the Employer.
Benefit credits means the amounts credited to the Participant’s Healthcare Reimbursement Arrangement Account.
Benefit credits means the amounts set aside for Benefits under Section 3 and credited to the Participant’s Health Reimbursement Arrangement account.
Benefit credits means any amount that the Employer, in its sole discretion, may contribute on behalf of each Participant to provide benefits for such Participant and his or her Dependents, if applicable, under one or more of the Benefit Package Option(s) offered under the Plan. The amount of employer contribution that is applied towards the cost of the Benefit Package Option(s) for each Participant and/or level of coverage shall be subject to the sole discretion of the Employer and may be adjusted upward or downward at any time at the contributing Employer's sole discretion. The amount shall be calculated for each Plan Year in a uniform and nondiscriminatory manner and may be based upon the Participant's dependent status, commencement or termination date of the Participant's employment during the Plan Year, and such other factors as the Employer shall prescribe. To the extent set forth in the Summary Plan Description or enrollment material, the Employer may make Benefit credits available to Participants and allow Participants to allocate the Benefit credits among the various Benefit Package Options offered under the Plan in a manner set forth in the Summary Plan Description or enrollment material. In no event will any Nonelective Contribution be disbursed to a Participant in the form of additional, taxable Compensation except as otherwise provided in the Summary Plan Description or enrollment material.