Withdrawal Bonus Sample Clauses
Withdrawal Bonus a. Each employee who chooses not to elect health and hospital coverage with Rose Tree Media School District shall receive monthly payments equal to single employee contribution rates. If the employee chooses to re-enter the plan, the first re-entry shall be at no cost to the employee. The maximum monthly payment under the provisions of this section shall be two hundred fifty-five dollars ($255). No withdrawal bonus will be paid to any spouse/dependent of a district employee who is covered by the School District’s plan.
b. Any subsequent re-entry shall cost the employee twenty-five percent (25%) per month of the contribution rate for one year.
Withdrawal Bonus. The maximum monthly payment under the provisions of this section shall be two hundred fifty-five ($255) two hundred and eighty-five ($285.00) dollars. No withdrawal bonus will be paid to any spouse/dependent of a district employee who is covered by the School District’s plan.
Withdrawal Bonus a) Except as hereafter set forth, each employee who chooses not to elect health and hospital coverage with the School District shall receive a monthly payment. If the employee chooses to re-enter the plan, the first re-entry shall be at no cost to the employee. The maximum monthly payment under the provisions of this section shall be two hundred fifty-five dollars ($255). If any employee is covered under any School District health and hospital coverage plan, that member shall not be entitled to receipt of a withdrawal bonus.
b) Any subsequent re-entry shall cost the employee twenty-five percent (25%) per month of the contribution rate for one year.