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

  • 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.

  • Upon receipt of the Wage Top-Up Funding and the ECE Portion of Statutory Benefits Funding, the Participant will in turn distribute those payments in accordance with the requirements in the ECE-WE Funding Guidelines to each corresponding ECE Employee as soon as possible, but no later than 30 days after receipt, or such longer period as the Province may approve in advance in writing.

  • 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.

  • Fringe shall use the Benefits Funding Amount to pay for the services requested by the Partner and the Members.

  • The initial Benefits Funding Amount per Member, if any, is specified in either the Benefit Funding Schedule (see attached cover letter) or Eligible Employee List.

  • Partner may increase a Member’s Benefits Funding Amount during any Term upon notification to Fringe to allow the Member to select additional benefits or services via the Benefits Engagement Program.

  • Members will receive points (“Benefits Points”) determined by the Benefits Funding Amount the Partner allocates to the Member.

  • Partner may decrease a Member’s Benefits Funding Amount for any subsequent Term by giving Fringe notice of such reduction at least thirty (30) days prior to the beginning of any Term, provided that the Total Fees is not less than the Minimum Annual Funding Amount of $ .

  • The Benefits Funding Amount and Benefits Engagement Fees (“Total Fees”) are exclusive of any credit card or payment processing fees, and Partner agrees to pay for such fees incurred by Fringe, up to 3% of total payment due.

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 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.

  • Medical Benefits means medical, optical, or dental benefits, including, but not limited to, hospital and physician services, prescription drugs, and related benefits.

  • 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.

  • superannuation benefits means pensions, gratuities and other allowances payable on resignation, retirement or death;

  • 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

  • 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).

  • 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 3.11(b).

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • 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.