Cafeteria Plans Sample Clauses
Cafeteria Plans. 17.1.1 Each active and each retired employee shall receive a City contribution equal to the minimum employer contribution for agencies participating in the Public Employees Medical and Hospital Care Act (PEMHCA).
17.1.2 Each active employee shall be allocated an amount, inclusive of the City contribution specified in Section 17.1.1 to be used to purchase qualified benefits as descrbed in this Section. The amount shall be allocated to each worker according to the health benefits selected, as follows: $1,385.62 per month family coverage $1,065.86 per month two-person coverage $532.93 per month single person coverage $154.68 per month no coverage
17.1.3 Effective with the implementation of cafeteria plan year 2009, the amounts for each tier of coverage shall be adjusted to the corresponding basic monthly rate for the highest HMO less $10.00 per month for single coverage, less $20.00 per month for two-person coverage and less $30.00 per month for family coverage. The no coverage option shall remain at $154.68.
17.1.4 Effective with the implementation of cafeteria plan years 2010 and 2011, the City will increase the allocated amount contained in 17.1.3 by eighty five percent (85%) of the highest PEMHCA HMO premium increase of HMO plans available to the Bay Area/Sacramento area, or adjust the allocated amount to match each tier for Kaiser rates for the Bay Area/Sacramento area, whichever is the greater amount. The employee will be responsible for any remaining premium in excess of the allocated amount.
17.1.5 Each officer may use his/her allocated amount for:
(a) PEMHCA health insurance premiums
(b) long term disability insurance
(c) any personal medical, dental and vision care expenses not covered by the City’s plans, including but not limited to deductibles, co-payments, medication and medical equipment
(d) reimbursement for individual long term disability (LTD) policy premiums paid by employees
(e) supplemental life insurance through the City’s carrier
(f) contributions to a City offered deferred compensation plan
17.1.6 If any employee expends less than the total of his/her allocated amount above the minimum employer contribution contained in 17.1.1, then such employee shall be entitled to the unused amount in cash as taxable income, subject to appropriate tax withholding.
17.1.7 Each employee must enroll in an available PEMHCA health insurance plan or demonstrate that he or she has health insurance coverage equivalent to the PEMHCA plan in order to receive ...
Cafeteria Plans. Effective as of the Closing Date, Buyer shall cause an Acquired Company or one of Buyer’s Subsidiaries to establish or maintain a flexible spending reimbursement account under a cafeteria plan that is intended to meet the requirements of Section 125 of the Code (the “Company Cafeteria Plan”) in which Transferred Employees can participate. Buyer shall cause an Acquired Company or one of Buyer’s Subsidiaries to use commercially reasonable efforts to allow Transferred Employees who participated as of the Employee Transfer Date (collectively, the “Cafeteria Plan Participants”) in an Employee Benefit Plan that is intended to meet the requirements of Section 125 of the Code (a “Seller Cafeteria Plan”) to participate in the Company Cafeteria Plan effective as of the applicable Employee Transfer Date. During the period from the Employee Transfer Date until the last day of the plan year of the Seller Cafeteria Plan that commenced immediately prior to the Employee Transfer Date, Buyer shall cause an Acquired Company or one of Buyer’s Subsidiaries to continue, the salary reduction elections made by the Cafeteria Plan Participants as in effect as of the Employee Transfer Date (adjusted, to the extent necessary, to take into account any changes to applicable premiums related to any Buyer Benefit Plan) and allow each Cafeteria Plan Participant to receive reimbursement from such participant’s flexible spending reimbursement account under the Company Cafeteria Plan on substantially comparable terms and conditions as would have been applicable to such participant as if such Cafeteria Plan Participant were employed by Seller or one of its Affiliates following the Employee Transfer Date during such period and continued to participate in a Seller Cafeteria Plan. As of the Employee Transfer Date, (i) if the aggregate accumulated contributions to the flexible spending reimbursement accounts made by Cafeteria Plan Participants prior to the Employee Transfer Date during the year in which the Employee Transfer Date occurs exceeds the aggregate reimbursement amounts paid to Cafeteria Plan Participants for such year from such accounts, Seller shall transfer, or cause an Affiliate to transfer, to Buyer, an Acquired Company or one of Buyer’s other Subsidiaries, as applicable, an amount equal to such excess as soon as practicable following the applicable Employee Transfer Date and (ii) if the aggregate reimbursement amounts paid to Cafeteria Plan Participants for such year from the fle...
Cafeteria Plans. Without in any way limiting the provisions of Section 5.10(a) or (b), as of the Closing Date, to the extent Buyer and its Subsidiaries (including the Company Group) are not assuming or retaining any Company Plan that is a cafeteria plan or plan subject to Section 125 of the Code in which any Buyer Employee participated immediately prior to the Closing (“Company Group/Seller 125 Plans”), Buyer and its Subsidiaries (including the Company Group) shall (i) cause each Buyer Employee to be credited under similar plans of Buyer and its Subsidiaries (including the Company Group) (“Buyer 125 Plans”), with a “Credit Balance” representing the aggregate amount of an employee’s payroll deductions less the aggregate amount of disbursements, but not below zero, under each Buyer Employee’s account under the applicable Company Group/Seller 125 Plan immediately prior to the Closing Date and (ii) give effect, or cause the applicable Buyer 125 Plan to give effect, to elections made by each Buyer Employee for the calendar year during which the Closing Date occurs under each Company Group/Seller 125 Plan in which such Buyer Employee participates.
Cafeteria Plans. 17.1.1 The City shall make a direct contribution equal to the minimum employer contribution for agencies participating in the Public Employees Medical and Hospital Care Act (PEMHCA) on behalf of each active employee and qualified retiree.
17.1.2 Effective the first month following City Council adoption of this agreement, the City shall continue to make a non-elective employer contribution to the flexible benefits plan on behalf of each active employee in an amount which, together with the minimum PEMHCA contribution in 17.1.1 equals the following: $2,351per month - family coverage $1,811 per month - two-person coverage $961 per month - single coverage [EXAMPLE: If the PEMHCA minimum contribution is $140, then the City shall make a flexible benefits plan contribution of $2,211 per month for family coverage, $1,671 per month for two-person coverage and $821 per month for single coverage.] Cash-in-Lieu of Medical Coverage: Employees who waive coverage will be entitled to $391.00 per month. This amount is no longer contributed through the flexible benefits plan.
17.1.3 For the plan year beginning January 1, 2022, the City shall make a nonelective employer contribution to the flexible benefits plan on behalf of each active employee in an amount which, together with the minimum PEMHCA contribution in 17.1.1 equals the contributions in Section 17.1.2 increased by an amount equal to the twelve-month increase in the consumer price index (CPI-U San Francisco-Oakland-San ▇▇▇▇) measured from February 2020 to February 2021. However, the increase in the City’s contribution shall be no less than two percent (2.0%) and no more than four percent (4%) (i.e., CPI 2- 4%). Cash-in-Lieu of Medical Coverage: Employees who waive coverage will be entitled to $391.00 per month. This amount is no longer contributed through the flexible benefits plan.
17.1.4 For the plan year beginning January 1, 2023, the City shall make a nonelective employer contribution to the flexible benefits plan on behalf of each active employee in an amount which, together with the minimum PEMHCA contribution in 13.1.1 equals the contributions in Section 17.1.3 increased by an amount equal to the twelve-month increase in the consumer price index (CPI-U San Francisco-Oakland-San ▇▇▇▇) measured from February 2021 to February 2022. However, the increase in the City’s contribution shall be no less than two percent (2.0%) and no more than four percent (4%) (i.e., CPI 2- 4%). Cash-in-Lieu of Medical Coverage: Empl...
Cafeteria Plans. Each faculty member shall have the option to participate in a flexible spending account program for out-of-pocket medical expenses and/or dependent care in accordance with Section 125 of the Internal Revenue Service Codes. An outside administrator will administer such plans and the full cost to participate in such plans will be the responsibility of the COMMITTEE.
Cafeteria Plans. The Board shall maintain, administer, and cover administrative fees applicable to a cafeteria plan.
Cafeteria Plans. Enrollment in the District’s existing Section 125 Premium Only Plan (POP) is applied in conformance with Internal Revenue Service rules. Employees who participate in the plan will have their medical premium contributions make on a pre- tax basis. The District also offers two Flexible Spending Account (FSA) plans. The FSA accounts reimburse employees who elect to join for eligible out-of-pocket health expenses and child care expenses on a pre-tax basis.
Cafeteria Plans. Employee health plan premium contributions and FSA contributions are made through payroll deduction on a pre-tax basis in accordance with IRS regulations through the District’s Section 125 Cafeteria Plans.
Cafeteria Plans. Prior to the Closing, New Image shall transfer from the Cafeteria Plan Account to a bank account included in the Transferred Assets any cash not derived from amounts properly withheld under the Cafeteria Plan. At least through the last day of the fourth month following Closing, New Image shall (a) maintain the Cafeteria Plan in accordance with its terms and applicable Legal Requirements and (b) permit the reimbursement of claims arising thereunder on or prior to Closing at least until such last day; provided, however, that if written consent of Buyer is obtained, New Image may terminate the Cafeteria Plan in accordance with its terms and applicable Legal Requirements and distribute the amounts constituting the Cafeteria Plan Account to the participants and/or beneficiaries under such plan.
Cafeteria Plans. Enrollment in the District’s existing Section 125 Premium Only Plan (POP) will be offered to employees in conformance with Internal Revenue Service rules. Employees who participate in the plan will have their medical contributions made on a pretax basis. The District also offers two Flexible Spending Account (FSA) plans. The FSA accounts will reimburse employees who elect to join for eligible out-of-pocket health expenses and child care expenses on a pretax basis. The District provides dental coverage for employees and their eligible dependents at no cost to employees. The current plan is the Delta Dental PPO Plan. The District provides a vision plan for employees and their eligible dependents at no cost to employees. The current plan is the VSP plan.