Common use of Defined Benefit Clause in Contracts

Defined Benefit. The Board will pay a defined benefit of up to $450.00 per month towards a health insurance plan selected by the Cooperative for full-time employees. This will be prorated for less than full-time employees. This defined benefit will only be for licensed professionals enrolled in the Cooperative’s approved health insurance plan. A cooperative health insurance oversight committee will be established. It will be composed of up to three Board of Directors appointees, up to three special services NEA appointees, and a representative(s) of a third party administrator as an ex officio member. It will be the intention of the oversight committee to at least once throughout the contract year to review, assess and help determine the health insurance offerings to be presented to cooperative staff. It will be the Association’s responsibility to schedule and provide minutes of the meeting(s) which will be accessed electronically on the cooperative’s website.

Defined Benefit. The Board will pay a defined benefit of up to $450.00 475.00 per month towards toward a health insurance plan selected by the Cooperative for full-time employees. This will be prorated for less than full-time employees. This defined benefit will only be for licensed professionals enrolled in the Cooperative’s approved health insurance plan. A cooperative health insurance oversight committee will be established. It will be composed of up to three Board of Directors Directors’ appointees, up to three special services NEA appointees, and a representative(s) of a third party administrator as an ex officio member. It will be the intention of the oversight committee to at least once throughout the contract year to review, assess and help determine the health insurance offerings to be presented to cooperative staff. It will be the Association’s responsibility to schedule and provide minutes of the meeting(s) which will be accessed electronically on the cooperative’s website.

Defined Benefit. The Board will pay a defined benefit of up to $450.00 475.00 per month towards toward a health insurance plan selected by the Cooperative for full-time employees. This will be prorated for less than full-time employees. This defined benefit will only be for licensed professionals enrolled in the Cooperative’s approved health insurance plan. A cooperative health insurance oversight committee will be established. It will be composed of up to three Board of Directors appointees, up to three special services NEA appointees, and a representative(s) of a third party administrator as an ex officio member. It will be the intention of the oversight committee to at least once throughout the contract year to review, assess and help determine the health insurance offerings to be presented to cooperative staff. It will be the Association’s responsibility to schedule and provide minutes of the meeting(s) which will be accessed electronically on the cooperative’s website.