ELIGIBILITY FOR EMPLOYER. CONTRIBUTION This section describes eligibility for an Employer Contribution toward the cost of coverage.
ELIGIBILITY FOR EMPLOYER. Match: To be eligible for the matching contribution provided by ORU, you must be at least age 21 and you must have completed a “year of service” (as defined for Plan purposes) during which you were credited with at least 1,000 hours of service. When you are eligible, ORU will provide a 50% matching contribution on your deferrals up to 6% of your eligible pay. For 2022, the maximum amount of pay that may be considered for calculating matching contributions is $305,000. Enrollment and Investment Direction with TIAA: Your contributions under the Plan are allocated to separate TIAA contracts. On the TIAA website (xxx.xxxx.xxx/xxx), you will see two options: • ORU Retirement Plan – Employer Match: This contract receives the employer matching contributions and your deferral contributions that have been matched.
ELIGIBILITY FOR EMPLOYER. Match: To be eligible for the matching contribution provided by ORU, you must be at least age 21 and you must have completed a “year of service” (as defined for Plan purposes) during which you were credited with at least 1,000 hours of service. When you are eligible, ORU will provide a 50% matching contribution on your deferrals up to 6% of your eligible pay. For 2024, the maximum amount of pay that may be considered for calculating matching contributions is $345,000. Enrollment and Investment Direction with TIAA: Your contributions under the Plan are allocated to separate TIAA contracts. On the TIAA website. • ORU Retirement Plan – Employer Match: This contract receives the employer matching contributions and your deferral contributions that have been matched.
ELIGIBILITY FOR EMPLOYER. Paid Life Insurance 3040 An employee regularly scheduled to work thirty-two (32) hours or more per week, will be provided six thousand dollars ($6,000) life insurance, six thousand dollars ($6,000) accidental death and dismemberment, and six thousand dollars ($6,000) total and permanent disability coverage entirely Employer-paid. All decisions of coverage, limitations, and exclusions are the determination of the Insurance Company.
ELIGIBILITY FOR EMPLOYER paid insurance coverages in this section shall be limited to all employees covered by this Agreement who have been employed for forty (40) hours in the previous month. However, an employee shall be credited with time worked to meet the 40-hour requirement under the following circumstances: (1) The employee is away from regularly scheduled work while on a paid leave authorized under this Labor Agreement; or (2) the employee is away from regularly scheduled work while on Family Medical Leave authorized by state or federal law.
