Funded Plan definition
Examples of Funded Plan in a sentence
The Board shall pay full premium costs for the Administrator, spouse, and eligible dependents of the Saline Area Schools Self Funded Plan, Ultra-Vision Plan III.
The Board shall pay full premium costs for the Administrator, spouse, and eligible dependents for a Saline Area Schools Self Funded Plan, including incentive rider, which provides 80% coverage for preventive care, etc., with a cap of $1,500.00 on an orthodontic rider.
Upon commencement of receipt by the Executive of benefit payments under the Funded Plan the Executive shall be entitled under this Section 11 to a supplemental monthly benefit that is the Actuarial Equivalent of his accrued Supplemental Retirement Benefit less his Maximum Benefit.
The Executive's benefits accrued under this Section 11 shall be fully vested and nonforfeitable for any reason coincident with the vesting of the Executive's accrued benefits under the Funded Plan.
Benefits due under this Section 11 shall be paid coincident with the payment date of benefits under the Funded Plan.