EMPLOYEE BENEFIT PROGRAM Sample Clauses
The EMPLOYEE BENEFIT PROGRAM clause defines the employer's obligation to provide certain benefits to employees as part of their compensation package. This clause typically outlines which benefits are offered, such as health insurance, retirement plans, paid leave, or other perks, and may specify eligibility requirements or enrollment procedures. Its core practical function is to ensure employees are informed about the benefits they are entitled to, promoting transparency and helping to attract and retain talent.
EMPLOYEE BENEFIT PROGRAM. (i) During the TERM, the EMPLOYEE shall be entitled to participate in all formally established employee benefit, bonus, pension and profit-sharing plans and similar programs that are maintained by the EMPLOYERS from time to time, including programs in respect of group health, disability or life insurance, reimbursement of membership fees in civic, social and professional organizations and all employee benefit plans or programs hereafter adopted in writing by the Boards of Directors of the EMPLOYERS, for which senior management personnel are eligible, including any employee stock ownership plan, stock option plan or other stock benefit plan (hereinafter collectively referred to as the "BENEFIT PLANS"). Notwithstanding the foregoing sentence, the EMPLOYERS may discontinue or terminate at any time any such BENEFIT PLANS, now existing or hereafter adopted, to the extent permitted by the terms of such plans and shall not be required to compensate the EMPLOYEE for such discontinuance or termination.
(ii) After the expiration of the TERM or the termination of the employment of the employee for any reason other than JUST CAUSE (as defined hereinafter), the EMPLOYERS shall provide a group health insurance program in which the EMPLOYEE and his spouse will be eligible to participate and which shall provide substantially the same benefits as are available to retired employees of the EMPLOYERS on the date of this AGREEMENT until both the EMPLOYEE and his spouse become 65 years of age; provided, however that all premiums for such program shall be paid equally by the EMPLOYERS and the EMPLOYEE and/or his spouse after the EMPLOYEE's retirement; provided further, however, that the EMPLOYEE may only participate in such program for as long as the EMPLOYERS elect in their sole discretion to make available an employee group health insurance program which permits the EMPLOYERS to make coverage available for retirees.
EMPLOYEE BENEFIT PROGRAM. 3901 The parties agree that the Health Care Employees Benefit Plan sponsored dental plan will be on a 50-50 cost shared basis.
EMPLOYEE BENEFIT PROGRAM. The Region will pay one hundred percent (100%) towards the cost of the following benefits outlined in Articles 23.01, 23.02, 23.03, 23.04, 23.05, 23.06, which shall not be changed for the duration of this Collective Agreement and which must be read subject to the conditions of the carriers.
EMPLOYEE BENEFIT PROGRAM. During the TERM, the EMPLOYEE shall be entitled to participate in all formally established employee benefit, bonus, pension and profit-sharing plans and similar programs that are maintained by the EMPLOYER from time to time, including programs in respect of group health, disability or life insurance, and all employee benefit plans or programs hereafter adopted in writing by the Board of Directors of the EMPLOYER, for which senior management personnel are eligible, including any employee stock ownership plan, stock option plan or other stock benefit plan (hereinafter collectively referred to as the "BENEFIT PLANS"). Notwithstanding the foregoing sentence, the EMPLOYER may discontinue or terminate at any time any such BENEFIT PLANS, now existing or hereafter adopted, to the extent permitted by the terms of such plans and shall not be required to compensate the EMPLOYEE for such discontinuance or termination.
EMPLOYEE BENEFIT PROGRAM. (SEE APPENDIX “B”)
EMPLOYEE BENEFIT PROGRAM. During the TERM, the EMPLOYEE shall be entitled to participate in all formally established employee benefit, bonus, pension and profit-sharing plans and similar programs that are maintained by the EMPLOYERS from time to time, including programs in respect of group health, disability or life insurance, reimbursement of membership fees in civic, social and professional organizations and all employee benefit plans or programs hereafter adopted in writing by the Boards of Directors of the EMPLOYERS, for which senior management personnel are eligible, including any employee stock ownership plan, stock option plan or other stock benefit plan (hereinafter collectively referred to as the “BENEFIT PLANS”). Notwithstanding the foregoing sentence, the EMPLOYERS may discontinue or terminate at any time any such BENEFIT PLANS, now existing or hereafter adopted, to the extent permitted by the terms of such plans and shall not be required to compensate the EMPLOYEE for such discontinuance or termination.
EMPLOYEE BENEFIT PROGRAM. 26.1 Each permanent employee shall be entitled to pension and sick leave payments as provided for in the by-laws of the Employer.
26.2 An outline of the Hospital and Medical Care Plans, Group Life Insurance, Basic Dental Plan, Extended Health Care, Long Term Disability Plan, Workplace Safety Insurance Benefits, Sick Leave and Pension benefits is contained in Schedule “C” attached hereto and forming part of this Agreement.
EMPLOYEE BENEFIT PROGRAM. 19.1 Defined contribution retirement programs (i.e., 401a and 457 deferred compensation plans) and a defined benefit retirement program (i.e., PERS) have been established by the Agency for all employees. Agency shall make no contributions to any retirement plan other than the PERS plan. The employee’s share of the PERS contract payment shall be the percentage (8% as of January 1, 2017)of each employee’s reportable compensation as defined in the Public Employee Retirement Law (Government Code §20636) with Agency responsible for the balance as calculated by PERS. In addition to their PERS payment, each employee may make additional contributions to available deferred compensation plans.
(a) The Agency shall continue to provide and maintain the State of California Public Employees Retirement System Health Benefit Plans. The Agency will contribute to the health benefit plan premium for each employee and their eligible dependents an amount equal to the average of the premiums of all the PERS plans available - excluding the plan with the lowest premium and the plan with the highest premium - in any given year.
(b) The Agency will contribute 100% of the health insurance premium for retirees, as defined in Section 19.2(c), below, up to the maximum contribution for active employees and dependents.
(c) To qualify as a retiree from the Agency for coverage in the PERS Health Plan, the employee has to meet the following criteria:
1. Terminate his/her employment with the Agency with a minimum age of 55 years.
2. Notify the Agency within 120 days prior to their retirement date if they desire to be covered by the PERS Health Plan after retiring.
3. Have 10 years of employment with the Agency to be eligible to participate in the PERS Health Plan.
(d) Employees retiring for health reasons, and are eligible for social security benefits, are exempt from the requirements of section 19.2 (c) 1 through 3.
(e) Employees presently covered by the Agency’s health insurance plan under COBRA are eligible to participate in the PERS Health Plan as retirees.
19.3 Where it is assured by the attending physician that the duration of an illness or disability will require the employee's absence from work in excess of ninety (90) calendar days, the Agency will at its expense pay the employees required medical insurance premiums (including his/her dependent's coverage) for the two (2) month period following the last deducted payment made by the employee. In addition, for each completed five (5) ...
EMPLOYEE BENEFIT PROGRAM. 18:01 The Company will pay 100% of the premium for the following benefits:
i) The benefit coverages are governed by the terms of the benefit policies. In the event that there is a dispute between the benefit provider and an employee, and the employee or Union requests the assistance from the Company, the Company will consider the request and provide assistance where required. If there is a dispute regarding the carrier’s medical decision on a weekly indemnity claim and there is a need for a third party medical opinion, the Company will pay for the third party medical opinion and such opinion will be binding between the parties.
ii) Benefit coverage will be as of December 15, 2008, benefits terminate at the end of the month in which the employee’s 65th birthday occurs.
a) Semi-private Hospitalization – Effective the month following the date of ratification (i.e. January 24, 2015) coverage will be limited to ten
EMPLOYEE BENEFIT PROGRAM. During the TERM, the EMPLOYEE shall be entitled to participate in all formally established employee benefit, bonus, pension and profit-sharing plans and similar programs that are maintained by the EMPLOYER from time to time, and all employee benefit plans or programs hereafter adopted in writing by the Board of Directors of the EMPLOYER, for which senior management personnel are eligible, including any employee stock ownership plan, stock option plan or other stock benefit plan (hereinafter collectively referred to as the "BENEFIT PLANS") in accordance with the terms and conditions of such BENEFIT PLANS, including but not limited to satisfaction of any participation or vesting requirements. Notwithstanding any statement to the contrary contained elsewhere in this AGREEMENT, the EMPLOYER may discontinue or terminate at any time any such BENEFIT PLANS, now existing or hereafter adopted, to the extent permitted by the terms of such plans and shall not be required to compensate the EMPLOYEE for such discontinuance or termination.