Cafeteria Plan. As of the Benefit Commencement Date, New Parkway or any of its Subsidiaries shall establish a cafeteria plan qualifying under Section 125 of the Code (the “New Parkway Cafeteria Plan”) and health care and dependent care flexible spending reimbursement accounts thereunder in which Transferring Employees who meet the eligibility criteria thereof may be immediately eligible to participate. As soon as practicable following the Benefit Commencement Date, the Cousins Group shall determine the aggregate accumulated contributions to the flexible spending reimbursement accounts under Cousin’s cafeteria plan or Legacy Parkway’s cafeteria plan, as applicable, in which such Transferring Employees participated (the “Cousins Cafeteria Plans”) made during the year in which the Distribution Date occurs by the Transferring Employees less the aggregate reimbursement payouts made for such year up to the day immediately prior to the Benefit Commencement Date from such accounts to such Transferring Employees (the “Net FSA Balance”). If the Net FSA Balance is (a) positive, the Cousins Group shall pay to the New Parkway Group an amount in cash equal to the Net FSA Balance or (b) negative, the New Parkway Group shall pay to the Cousins Group, the absolute value of the Net FSA Balance attributable to Transferring Parkway Employees. New Parkway or its applicable Subsidiary shall cause the balance (whether positive or negative) of each Transferring Employee’s accounts under the Cousins Cafeteria Plans as of the Benefit Commencement Date to be credited to the Transferring Employee’s corresponding accounts under the New Parkway Cafeteria Plan in which such Transferring Employee participates following the Benefit Commencement Date. On and after the Benefit Commencement Date, New Parkway shall assume and be solely responsible for all claims for reimbursement by the Transferring Employees with respect to the plan year that includes the Distribution Date, whether incurred prior to, on or after the Distribution Date, that have not been paid in full as of the Benefit Commencement Date, which claims shall be paid pursuant to and under the terms of the New Parkway Cafeteria Plan. New Parkway agrees to cause the New Parkway Cafeteria Plan to honor, through the end of the calendar year in which the Distribution Date occurs, the elections made by each Transferring Employee under the Cousins Cafeteria Plans in respect of the flexible spending reimbursement accounts that are in effect immediately ...
Cafeteria Plan. Employees who are full-time bargaining unit members including those on Board approved paid leave, but excluding those on sick leave or disability leave shall have access to the “Cafeteria Plan” established by the Board. Part-time unit members and members on unpaid Board approved leave are not eligible to participate in the program. The following criteria shall apply to the granting of cafeteria insurance benefits:
Cafeteria Plan. During the term of the MOU, the Town agrees to maintain a Cafeteria Plan, pursuant to Section 125 of the Internal Revenue Code, for the purpose of providing eligible active employees with access to various health and welfare benefits. Benefits available through the Cafeteria Plan include medical insurance, dental insurance, vision insurance and life insurance benefits.
Cafeteria Plan. The City shall implement a full flex cafeteria plan in accordance with IRS Code Section 125 for all active employees. Unit employees participating in the City’s full flex cafeteria plan shall receive a monthly flex dollar allowance to purchase benefits offered under the full flex cafeteria plan. The following health care benefits shall be offered through the cafeteria plan: medical, dental, vision and life. As of July 1, 2017, the monthly dollar allowance, which is inclusive of the statutory PEMHCA minimum, shall be: Employee only: $ 732.00 Employee + 1: $ 1,271.00 Family: $ 1,584.00 As of January 1, 2018, the monthly dollar allowance, which is inclusive of the statutory PEMHCA minimum, shall be: Employee only: $ 750.00 Employee + 1: $ 1,308.00 Family: $ 1,632.00 The monthly flex dollar allowance may be used in accordance with the terms of the cafeteria plan to purchase benefits offered under the cafeteria plan and other supplementary products. After the mandatory medical insurance plan has been made the employee has the option to waive the other benefits and have the excess flex dollars converted to taxable income or purchase other supplementary products. In the event that premiums and/or costs for the selected benefits exceed the monthly flex dollar allowance, the balance will be paid by the employee through automatic pre-tax payroll deduction, as permitted under IRS Code Section 125. The City will contribute up to an additional 4% towards the increased cost of medical premiums in a calendar year. The average increase in PERS monthly health care premiums for active employees shall be calculated by subtracting the average cost of Los Angeles area Basic premiums for all available City-offered CalPERS health-care plans for the current year from the average cost of Los Angeles area Basic premiums for all available City-offered CalPERS health-care plans for the upcoming year. If this percentage is less than 4%, then the City allowances shall be increased only by that percentage. If this percentage equals or exceeds 4%, the City allowances shall be increased by 4%. If there is a year where the average premium increase is 0%, or there is an overall decrease, the City contribution shall not be adjusted. In addition, the City shall continue to provide flex dollars to cover 100% of HMO dental, vision and life insurance premiums.
Cafeteria Plan. 1. The City shall provide a Cafeteria Plan, pursuant to Section 125 of the Internal Revenue Code or any related regulations, for the purpose of providing employees with access to various health and welfare benefits. Benefits available through the Cafeteria Plan include medical insurance, dental insurance, vision insurance and Long Term Disability (LTD) insurance.
Cafeteria Plan. The insurance benefit program both with respect to coverage and employer contribution applicable to covered employees and retired employees shall be as set forth on “Appendix B” attached hereto and made a part of this Agreement.
Cafeteria Plan. Employees who are currently eligible for all fringe benefits shall have access to the "Cafeteria Plan" established by the Board. The following criteria shall apply to the granting of cafeteria insurance benefits:
Cafeteria Plan. 1. Employees who are full-time bargaining unit members including those on Board-approved leave, but excluding those on sick leave or disability leave shall have access to the “Cafeteria Plan” established by the Board. Part-time unit members and members on unpaid Board-approved leave are not eligible to participate in the plan. The following criteria shall apply to the granting of cafeteria insurance benefits:
Cafeteria Plan. 1. The City will provide to each represented employee a Cafeteria Plan allotment to purchase benefits qualified under Section 125 of the Internal Revenue Code. MM/PROF acknowledges that Section 125 of the IRC requires that the Cafeteria Plan be adopted by the City Council prior to the end of the calendar year. Accordingly, the City and MM/PROF agree:
Cafeteria Plan. The Employer shall maintain an IRC (S)125 plan, or similar arrangement as from time to time permitted by the Internal Revenue Code as then in effect, for health insurance premiums and other permitted (S)125 benefits and the Employee shall be permitted to divert compensation for such premiums and other benefits.
