Salary Reduction Program Sample Clauses

Salary Reduction Program. The College shall make available to members an IRS Section 125 salary reduction program for insurance premiums, and eligible non-reimbursed medical and dental care expenses. The maximum reimbursement for non-reimbursed medical and dental expenses shall be two thousand five hundred dollars ($2,500) and the maximum reimbursement for non-reimbursed dependent care shall be five thousand dollars ($5,000).
AutoNDA by SimpleDocs
Salary Reduction Program. The Board shall make available to members an IRS Section 125 salary reduction program for insurance premiums, and eligible non-reimbursed medical and dependent care expenses. The maximum reimbursement for non-reimbursed medical expenses shall be twenty-five hundred dollars ($2,500) and the maximum reimbursement for non-reimbursed dependent care shall be five thousand dollars ($5,000).
Salary Reduction Program. For purposes of determining the Company's compensation and benefits obligations under any of the foregoing subparagraphs (a) through (d) of Section 6, any reduction in the Executive's Base Salary resulting from the officer salary reduction program implemented on January 1, 1992 shall be disregarded and the Executive's "salary of record" as in effect on December 31, 1991 shall be deemed to be in effect for the duration of the salary reduction program or, if higher, the Executive's actual annual salary.
Salary Reduction Program. The Board will offer the opportunity for employees to participate in a salary reduction agreement under Section 125. Implementation shall be subject to Internal Revenue regulations.
Salary Reduction Program. 12.11 Workers' Compensation . .
Salary Reduction Program. The Board will offer the opportunity for employees to participate in a salary reduction agreement under Section 125, including dependent care, cancer insurance, and non-reimbursed medical expenses. The Board will pay the initial set-up fees, and teachers shall pay the monthly administrative fee. The Board shall pay all costs for a Board-sponsored Employee’s Assistance Program for the term of this contract.
Salary Reduction Program. Each employee may designate a portion of their compensation for each contract year as salary reduction contributions to the extent an employee so elects to pay the employee's share of the cost of coverage under any existing Board sponsored health, medical, dental or hospitalization insurance plan for employees, eye or physical exams, eyeglasses, insurance deductibles and any amount paid for expenses of an employee for household services and/or for the care of a qualifying individual in accordance with the Skokie School District Flexible Spending Account plan and Section 125 of the Internal Revenue Code. The salary reduction contribution for an employee may be adjusted within the $5,000 limitation by the Board if there is a change in the cost of the particular type of insurance coverage selected by an employee. An employee may not change coverage during a contract year because of a change in the cost of coverage. Salary reduction contributions shall reduce the employee's compensation rate on each payday for 19 pay periods during the contract year. An employee's initial benefit election shall be made as part of their Application to Participate. Thereafter, an employee shall annually elect the programs in which they wish to participate and the dollar allocation to be made to such program for the twelve month period (September 1 through August 31) on or before September 1. An employee's benefit election for any contract year shall be irrevocable during the contract year, except that in the event that there is a change in an employee's marital status or number of dependents or there is a termination of employment of the employee's spouse, an employee shall be entitled to change their benefit election in a manner that is consistent with such change in marital, dependent or employment status, by providing written notice thereof to the Board, on a form acceptable to the Board. Any such change shall be effective for the latter of (a) the first day of the first calendar month beginning not less than thirty (30) days after the date such employee's written notice is received by the Board or (b) the first day of the first calendar month in which such change occurs. Reimbursement for employment related dependent care and/or household expenses shall occur not less than three times a year, once in February, June and October, upon submission of the original bill(s) and a photocopy of the canceled check(s) showing payment.
AutoNDA by SimpleDocs

Related to Salary Reduction Program

  • Salary Reduction The Salary Reduction Agreement (SRA) is to be used to establish, change, or cancel salary reduction withheld from your paycheck and contributed to the 403(b) plan on your behalf. To change, begin, or cancel contributions, enter your desired amount(s) and investment provider(s). This SRA will cancel and replace any previously submitted SRA. You must list all new and existing deductions on this SRA form or they will be cancelled. The salary reductions identified in the space below will be the only deductions performed starting on the Effective Date. Investment Provider Name* Monthly Dollar Type of Deferrals Requested Action Effective Amount Pre-Tax 403(b) Xxxx 403(b) Other New Existing Date** $ Change Cancel New Existing $ Change Cancel New Existing $ Total Monthly Contributions Change Cancel *Please Note: Certain investment providers may not pay the administration fee. If you select an investment provider that does not pay the administration fee, the fee will be deducted and paid from your salary reduction amount. Please refer to the approved vendor list at xxx.xxxxxxxxxxx.xxx/000x for a current listing of providers that have agreed to pay the fee. **Please make the SRA due date for your district the effective date. Any other date will defer to the next calendar SRA date.

  • Salary Review All salaries below the maximum of a band shall be reviewed annually.

  • Annual Salary Review In December of each year throughout the TERM, the annual salary of the EMPLOYEE shall be reviewed by the Boards of Directors of the EMPLOYERS and shall be set, effective January l of the following year, at an amount not less than $106,500, based upon the EMPLOYEE'S individual performance and the overall profitability and financial condition of the EMPLOYERS (hereinafter referred to as the "ANNUAL REVIEW"). The results of the ANNUAL REVIEW shall be reflected in the minutes of the Boards of Directors of the EMPLOYERS.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Partial Employer Contribution - Basic Eligibility The following employees covered by this Agreement receive the full Employer Contribution for basic life coverage, and at the employee's option, a partial Employer Contribution for health and dental coverages if they are scheduled to work at least fifty (50) percent but less than seventy-five (75) percent of the time. This means:

  • Employee Contribution Eligible employees shall contribute one percent (1%) of their salary on a per pay period basis to the HCSP.

  • Salary Scale The salary scale applicable to Employees shall be set out hereinafter in the Wage Schedule.

  • SALARY DETERMINATION FOR EMPLOYEES IN ADULT EDUCATION PCA Article B.3 does not apply in School District No. 34 (Abbotsford).

Time is Money Join Law Insider Premium to draft better contracts faster.