Benefits Funding definition

Benefits Funding shall be based on a fixed percentage of the preceding year’s payroll and shall be transferred annually by the HEABC to the JFBT starting on April 1, 2016. “Fixed percentage” shall be established as actual Employer cost of benefits from April 1, 2014, to March 31, 2015, divided by the payroll over the same period. The fixed percentage shall be increased by an additional one time payment in each of the specified years by the following amounts: April 1, 2016: 0.35% April 1, 2017: 0.35% April 1, 2018: 0.55% “Actual Employer Costs of Benefits” includes all employer costs related to providing the benefits under the Facilities Subsector collective agreement.
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Benefits Funding shall be based on a fixed percentage of the preceding year’s payroll and shall be transferred annually by the HEABC to the JFBT starting on April 1, 2016.
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Benefits Funding. “Benefits Receipts”, “Minimum Benefits Account Balance”, “Transferred Benefits Funding”, and “Year End Transferred Benefits Funding” shall have the respective meaning ascribed to each such term in paragraph 1 of Section OA-2.4.
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Examples of Benefits Funding in a sentence

  • Other Post Employment Benefits Funding Policy Under the MPSERS Act, all retirees have the option of continuing health, dental and vision coverage.

  • City will not be liable for any direct, indirect, consequential, exemplary or punitive damages, regardless of the form of action, whether in contract, tort or otherwise, arising from any such reduction or termination of Housing Benefits Funding.

  • Notwithstanding City’s obligation to provide any Housing Benefits Funding under this Agreement, this obligation does not arise if, at the time when a payment under this Agreement becomes due, the Council of the City of Toronto has not approved an operating budget that is sufficient and constitutes lawful authority for making the Housing Benefits payment.

  • Each program also has different4 U.S. Government Accountability Office, Health Insurance: Enrollment, Benefits, Funding, andin existing pools make the pools lesseligibility rules, benefits, premiums,Other Characteristics of State High Risk Health and/or cost controls (e.g., pre-existing condition waiting lists, disease management).

  • Restricted Funds shall be utilized as specified in their applicable Restrictions; and 11 This is based upon the Calendar Year Reports’ calculation of Benefits Funding.

  • The Province will pay the Participant the Wage Top Up Funding for each eligible ECE Employee for Hours Worked and Statutory Benefits Funding and the ECE Portion of Statutory Benefits Funding in accordance with the ECE-WE Funding Guidelines.

  • Benefits Funding and FlexibilityWorkforce compensation funding includes up to 17.5 per cent in benefits.

  • To the extent that there are assets to fund the Transferring Non-U.S. Retirement Benefit Liabilities (“Non-U.S. Retirement Benefits Funding Assets”), Parent and SpinCo shall make the declarations required for the transfer and undertake reasonable efforts to achieve a transfer of such Non-U.S. Retirement Benefits Funding Assets.

  • ECE Wage Enhancement Funding for earned vacation as time off with full pay is included in the Statutory Benefits Funding to the applicable ECE Employees for those hours when they were on paid vacation.

  • Accrued Benefits Funding Methods are indeed a major category of funding methods in which the Actuarial Liability for active members is based on pensionable service accrued up to the valuation date or to the end of the Control Period, asappropriate.

Related to Benefits Funding

  • Match funding or “match share” means cash or in-kind (non-cash) contributions provided by the Applicant/Recipient, subcontractors, or other parties that will be used in performance of the proposed project. Match share percentage is calculated by dividing the total match share contributions by the total allowable project cost. “Total allowable project cost” is the sum of the CEC’s reimbursable share and Recipient’s match share of the project costs. Match share expenditures have the following requirements:

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Retirement Savings Plan means the Air Products and Chemicals, Inc. Retirement Savings Plan, as amended from time to time, together with any similar, succeeding or substitute plan.

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Special Servicing Compensation With respect to any Serviced Mortgage Loan, Serviced Loan Combination or REO Property (other than an REO Property related to an Outside Serviced Mortgage Loan), any of the Special Servicing Fee, the Workout Fee, and the Liquidation Fee which shall be due to the Special Servicer.

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • Pharmacy benefits manager means a person that performs pharmacy benefits management.

  • Master Servicing Compensation The meaning specified in Section 3.14.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Pharmacy benefits management means the administration or management of prescription drug

  • Health benefits plan means a benefits plan which pays or

  • Retirement program means a program of rights and obligations which a county, city, village, or township establishes, maintains, or participates in and which, by its express terms or as a result of surrounding circumstances, does 1 or more of the following:

  • CarMax Funding means CarMax Auto Funding LLC, a Delaware limited liability company.

  • Servicing Compensation With respect to each Distribution Date, the sum of (i) the aggregate Servicing Fee for such Distribution Date subject to reduction as provided in Section 3.17, (ii) any Ancillary Income, (iii) Excess Proceeds for the preceding month and (iv) the Servicer Custodial Account Reinvestment Income for such Distribution Date.

  • Retiree means any person who has begun accruing a retirement

  • the Contributions and Benefits Act means the Social Security Contributions and Benefits Act 1992;

  • Compensation and Benefit Plans has the meaning set forth in Section 5.03(m)(i).

  • Savings Plan or "plans" means a plan that provides different investment strategies and allows account distributions for qualified higher education expenses.

  • Compensation Plans shall have the meaning set forth in Section 3.8(b).

  • pension means a pension or annual allowance paid under the Public Service Superannuation Act (PSSA), R.S., 1985, c. P-36, and any increases paid pursuant to the Supplementary Retirement Benefits Act, R.S., 1985, c. S-24 as it affects the PSSA. It does not include pensions payable pursuant to the Canadian Forces Superannuation Act, R.S., 1985, c. C-17, the Defence Services Pension Continuation Act, 1970, c. D-3, the Royal Canadian Mounted Police Pension Continuation Act , 1970, c. R-10, and the Royal Canadian Mounted Police Superannuation Act, R.S., 1985, c. R-11, the Members of Parliament Retiring Allowances Act, R.S. 1985, c. M-5, and that portion of pension payable to the Canada Pension Plan Act, R.S., 1985, c. C-8.