Cash benefit option. Employees who fail to elect the retiree health benefit will be cashed out, if eligible. If employee elects the cash option, the employee will receive the benefit if the employee separates in good standing as a result of resignation, layoff, retirement or death.
Appears in 4 contracts
Samples: Letter of Agreement, Letter of Agreement, www.countyofkings.com
Cash benefit option. Employees who fail to elect the retiree health benefit will be cashed out, if eligible. If the employee elects the cash option, the employee will receive the benefit if the employee separates in good standing as a result of resignation, layoff, retirement or death.
Appears in 4 contracts
Samples: Letter Agreement, Letter of Agreement, Letter of Agreement
