Fringe Benefit Plan Sample Clauses

Fringe Benefit Plan. The district fringe benefit plan is a Section 125 Cafeteria (Salary Reduction) Plan. Each full time teacher may select from the options provided by the district. The Board of Education reserves the right to select the insurance carriers and benefits of this program. The Board of Education will pay up to $320.00 per month toward the cost of health insurance for each employee enrolled in the district health plan. The monthly payment shall be applied to the purchase of the group health insurance plan and may not be taken as cash or any other benefit. Upon termination or non-renewal of the teacher’s contract of employment, for any reason, all Board payments of fringe benefits shall terminate on the date employment with the district ceases. The insurance carrier will bear the responsibility of explaining the various options and cost factors for each option to the employees covered by this agreement.
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Fringe Benefit Plan. During the Term, the Executive shall be entitled to participate in all plans and receive all rights and benefits for which he shall be eligible under any pension, deferred compensation, health, hospitalization, disability or group life insurance or other so-called "fringe" benefit plan which the Company provides for its executives generally. After the Term and until the Executive reaches age 65, the Executive shall be entitled to participate, at his expense, in all plans and receive all rights and benefits for which he shall be eligible under any pension, deferred compensation, health, hospitalization, disability or group life insurance or other so-called "fringe" benefit plan which the Company provides for its executives generally.
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Fringe Benefit Plan. The Board shall provide for fringe benefits through a flexible benefit plan under and in compliance with the provisions of Section 125 of the Internal Revenue Code, related statutory provisions and applicable regulations. Any administrative costs for individual offerings within the Section 125 plan will be the responsibility of the employee choosing that option.
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Fringe Benefit Plan. The district fringe benefit plan is a Section 125 Cafeteria (Salary Reduction) Plan. Each full time teacher may select from the options provided by the district. The Board of Education reserves the right to select the insurance carriers and benefits of this program. The Board of Education will pay $610 per month or the price of the lowest single premium (whichever is lower) toward the cost of health insurance for each employee enrolled in the district health plan. The monthly payment shall be applied to the purchase of the group health insurance plan and may not be taken as cash or any other benefit. Upon termination or non- renewal of the teacher’s contract of employment, for any reason, all Board payments of fringe benefits shall terminate on the date employment with the district ceases. The insurance carrier will bear the responsibility of explaining the various options and cost factors for each option to the employees covered by this agreement. Starting in October 2020, the Board offers a 403(b) contribution match of $25 per month. The Board of Education reserves the right to select the insurance carriers and benefits of this program.
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Fringe Benefit Plan. 40.1 The Board will provide and operate a “Cafeteria” plan in concordance with provisions of Oklahoma State Law.
Sample 1
Fringe Benefit Plan. The College shall provide for fringe benefits through a flexible benefit plan under and in compliance with the provisions of Section 125 of the Internal Revenue Code, related statutory provisions, and applicable regulations. Any administrative cost for individual offerings within the Section 125 plan will be the responsibility of the employee choosing that option. For each faculty member electing to participate in the group health insurance plan, the College shall also provide a contribution equal to the cost of a single option coverage, OR a contribution of the amount of a single option coverage toward a family option coverage, OR a contribution of twice the amount of a single option coverage when two faculty members covered by one health insurance contract are eligible for a contribution. Faculty members employed less than the required time as stipulated by the insurance provider are not eligible for coverage or membership in the group plan. The College will not pay the single option per month to the salary or other benefit in lieu of health insurance coverage.
Sample 1
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Fringe Benefit Plan. All SEIU staff shall participate in the district’s health insurance program. The month following the completion of the 2018-2019 negotiations, staff employed prior to September 17, 2007 will have the difference in cost between their current district-paid health insurance plan and what the district pays for other classified staff, added to their hourly wage. If the employee DOES NOT participate in the Wellness Incentive Program and qualify for the incentive, non-participation and/or non- qualification will result in a payroll reduction to collect the discounted difference. All new employees AFTER September 17, 2007 will be furnished with SINGLE coverage ONLY. (Approved 9/17/07). A health insurance advisory committee will be created to include three (3) SEIU members, three (3) HNEA members, and three (3) district representatives.
Sample 1
Fringe Benefit Plan. This shall mean a pension, retirement, profit-sharing, stock purchase, stock option, vacation, deferred compensation, bonus or other incentive plan, or other employee benefit program, arrangement, agreement, or understanding, or medical, vision, dental, or other health plan, or life insurance or disability plan, or any other employee benefit plans, including, without limitation, any "employee benefit plan" as defined in Section 3 (3) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), whether formal or informal, written or oral, to which the Seller contributes, or is a party, or is bound, or under which it may have liability, and under which employees or former employees of the Seller (or their beneficiaries) are eligible to participate or derive a benefit.
Sample 1

Related to Fringe Benefit Plan

  • Welfare Benefit Plans During the Employment Period, the Executive and/or the Executive's family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with benefits which are less favorable, in the aggregate, than the most favorable of such plans, practices, policies and programs in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Employee Benefit Plans Except as set forth in the Company Disclosure Schedule, the Company does not maintain or sponsor, or contribute to, any pension, profit-sharing, savings, bonus, incentive or deferred compensation, severance pay, medical, life insurance, welfare or other employee benefit plan. All pension, profit-sharing, savings, bonus, incentive or deferred compensation, severance pay, medical, life insurance, welfare or other employee benefit plans within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (hereinafter referred to as "ERISA"), in which the Company's employees participate are hereinafter referred to as the "Benefit Plans". All Benefit Plans comply in all material respects with all requirements of the Department of Labor and the Internal Revenue Service, and with all other applicable laws and regulations and the constituent documents and terms of such Benefit Plans, and the Company has not taken or failed to take any action with respect to the Benefit Plans which might create any liability on the part of the Company except for claims in the ordinary course for benefits with respect to the Benefit Plans and any requirements of the Company to contribute to a Benefit Plan as set forth in the terms and conditions of such Benefit Plan. True, correct and complete copies of the following documents with respect to each Benefit Plan have been delivered by the Company to OS: (A) all documents constituting the Benefit Plan, including but not limited to, trust agreements, plan documents, insurance policies and amendments thereto, (B) the most recent Forms 5500 or 5500 C/R and any financial statements attached thereto and those for the prior three (3) years; (C) the Internal Revenue Service determination letters; (D) the most recent Summary Plan Description; (E) all actuarial valuations for the three (3) years preceding the date of this Agreement; (F) all notices that have been given to the Company or such Benefit Plans within the three (3) years preceding the date of this Agreement by the IRS, Department of Labor, or any other governmental agency with respect to any Benefit Plan, and (G) all employee manuals or handbooks containing personnel or employee relations policies of the Company. No Benefit Plan contains any provision or is subject to any legal requirement that would prohibit the transactions contemplated by this Agreement or that would give rise to any vesting of benefits, severance, termination or other payments or liabilities as a result of the transactions contemplated by this Agreement. The Benefit Plans are not presently under audit or examination (nor has notice been received of a potential audit or examination) by the IRS, the Department of Labor or any other governmental agency. With respect to each Benefit Plan, there has occurred no "prohibited transaction" within the meaning of the Code or ERISA. In addition:

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