(PAK-B) definition
Examples of (PAK-B) in a sentence
In the event that an employee waives available coverage(s) under the Cafeteria Plan and thereby elects to receive additional compensation under PAK-B, pursuant to the terms of the Plan, any direction of that compensation to a tax-deferred annuity under Section 403 (b) of the Internal Revenue Code or within the meaning of Section 1224 of the Revised School Code shall be regarded as a voluntary and elective contribution made by the employee through salary reduction.
In the event that an eligible bargaining unit member waives available coverage(s) under the Cafeteria Plan and thereby elects to receive additional compensation under PAK-B, pursuant to the terms of the Plan, any direction of that compensation to a tax-deferred annuity under Section 403(b) of the Internal Revenue Code or within the meaning of Section 1224 of the Revised School Code shall be regarded as a voluntary and elective contribution made by the teacher through salary reduction.
All benefits and coverage for all plans above (“Medical Benefit Plan” (PAK-A, Part-1); (Non-Medical Benefit – Benefit Options) - (PAK-A, Part-2); and (PAK-B); shall be subject to and conditioned upon proper application by the employee for coverage and acceptance of the application by the carrier.
If not electing the Medical Benefit Plan, the Board offers the Administrator PAK-B, Non-Medical Benefit Plan, and a cash option plan in the amount of $500.00 per month under MESSA Optional programs.
Employees not electing the “Medical Benefit Plan” shall receive the following benefit package: Present (PAK-B); (Non-Medical Benefit Plan-benefit options) for the 2013-2014 2015-2016 Contract Year unless the benefit options are negotiated to a different benefit plan provider or the plans benefit options are negotiated to different levels of benefit options.
Messa Provided (PAK-B: Non-Medical Benefit Plan-benefit options): Dental (Class 1-100%; Class 2- 100%; Class 3-85%; Annual Max: $2,000; Class 4: 85%; Lifetime Max: $3,500; Riders: 2 Cleanings; Vision: VSP 3 Gold; Life Insurance: $40,000: Rate/$1000; AD&D Coverage $40,000: Rate/$1000; LTD Benefits: 60% Max $5,000; Max Monthly Salary: $8,333; 90 CDSW; Alcohol/Drug: Same as any other illness; Mental/Nervous: Same as any other illness; Soc.
School year employees that work 35 hours or more are eligible for PAK A or PAK-C or PAK-B.
PAK-B benefits waiving health/hospitalization with proof of other group health plan coverage.
The following paragraphs pertain to all “Medical Benefit Plans” (PAK-A, Part-1); and (Non-Medical Benefit Plans - (PAK-A, Part-2) and (PAK-B) Plans: Any portion of the actual applicable plans monthly premium costs not covered by the Board paid premiums for the “Medical Benefit Plans” (Pak-A, Part-1); and the (Non-Medical Plans) - (Pak-A, Part-2) and (Pak-B) Plans; shall be paid by the employee via payroll deductions.
Section 2: From July 1, 2011, through June 30, 2014, the College assumes costs of PAK-B including long term disability, term life, vision and dental insurance benefits.