Common use of Summary of Benefits Clause in Contracts

Summary of Benefits. MTC Full-Time Regular Represented and Confidential Employee Positions (Except as otherwise noted and excluding executive employees) Vision Care Insurance Agency pays total premium for Employee Only coverage. Employees may enroll dependents at their sole cost for $7.51 for one dependent and $26.70 for two or more per month. MTC will deduct dependent premium payments from earned wages pre-tax as allowable by law. Domestic Partner Coverage MTC provides group medical insurance, group dental insurance, and group vision coverage for an eligible domestic partner and dependents subject to CalPERS regulations regarding domestic partner coverage. The maximum amount of the Agency contributions shall be the same as that specified under “Group Dental Insurance” and “Group Medical Insurance” provisions referenced above. Life and Related Insurance Agency pays premiums for Employee life insurance policy; life insurance benefit is equal to one times annual salary or a minimum of $55,000, whichever is greater. Agency pays additional premium for employee for Accidental Death and Dismemberment policy equal to the group term life insurance coverage. Agency pays premium for qualified dependents (as defined in current policy) for $2,000 life coverage per dependent. Group Voluntary Life and Related Insurance In addition, Employee may elect to purchase, at his/her expense, supplemental Group Voluntary Life Insurance. Short-Term and Long-Term Disability Agency pays monthly premium for short-term disability coverage for qualifying employee medical disabilities to cover loss of wages. There is a 14-day waiting period with an additional 11 weeks of paid benefits (total 12 week benefit program). Coverage level is 66 2/3% of salary up to a maximum of $2,500 a week. Benefits paid are taxable. Agency pays monthly premium for long-term disability coverage for qualifying employee medical disabilities to cover loss of wages. There is a 90-day waiting period (designed to pick up at the end of the 12-weeks of short-term disability coverage). Coverage level is 67% of monthly salary up to a maximum of $15,000 per month. Benefits paid are taxable. Travel Insurance Agency pays annual premium. Each employee is covered with a policy of $100,000 for loss of life while traveling on MTC business. RETIREMENT