Common use of Insurance Pool Clause in Contracts

Insurance Pool. Any amount of an employee's insurance allocation that is not used by the individual employee shall be allocated to the UPOP insurance pool. Beginning with the November 30 paycheck, the District shall estimate the anticipated amount the insurance pool will generate for the fiscal year divided by the number of months remaining in the fiscal year. The amount shall be allocated equally to each FTE employee up to the cost of his/her insurance program and shall be divided among employees working less than a full time equivalent based upon their percentage of employment. The District reserves the right to recalculate the allocation of the insurance pool contributions throughout the year to avoid exceeding the maximum amount allocated and appropriated by the State for the District insurance benefits payable to employees. However, the District agrees that all funds in the pool shall be expended on employee insurance plans within two (2) percent. The District will report to the Association by December 31 and May 31 of each year.

Insurance Pool. Any amount of an employee's insurance allocation that is not used by the individual employee shall be allocated to the UPOP an insurance pool. Beginning with the November 30 paycheck, the District shall estimate the anticipated amount the insurance pool will generate for the fiscal year divided by the number of months remaining in the fiscal year. The amount shall be allocated equally to each FTE employee up to the cost of his/her insurance program and shall be divided among employees working less than a full time equivalent based upon their percentage of employment. The District reserves the right to recalculate the allocation of the insurance pool contributions throughout the year to avoid exceeding the maximum amount allocated and appropriated by the State for the District insurance benefits payable to employees. However, the District agrees that all funds in the pool shall be expended on employee insurance plans within two (2) percent. The District will report to the Association by December 31 and May 31 of each year.