Health Savings Account Retirement Benefit Sample Clauses

Health Savings Account Retirement Benefit. Teachers who were employed before July 1, 1991 and who have completed twenty (20) years of full-time service in Shakopee Public Schools at the date of resignation from the District (excluding time spent on unpaid leave) shall be entitled to up to Thirty Thousand Dollars ($30,000) upon departure from the District’s employ. The $30,000 shall be reduced by the amount of the District’s total matching contribution, excluding the earnings from such District contribution, to the teacher’s Minnesota Deferred Compensation Plan and/or Tax Sheltered Annuity calculated through June 30, 2000. Payment shall be placed in a district designated Health Savings Account in the name of the teacher. Payment shall be made by the District on the 15th of the month following their retirement. If, after the effective date of retirement, the teacher dies before receiving payment, the balance due shall be paid to the teacher’s named beneficiary, or, lacking same, to the surviving spouse of the teacher, if any; otherwise, to the estate of the deceased teacher. If the teacher dies after becoming eligible for the benefit, but before resignation, the benefit due shall be paid to the teacher’s named beneficiary, or, lacking same, to the surviving spouse of the teacher, if any; otherwise to the estate of the deceased teacher. No benefits under this Article shall be granted to any teacher who has been discharged by the District.
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Health Savings Account Retirement Benefit. For teachers retiring after June 30, 2008, who were employed before July 1, 1991 and who have completed twenty (20) years of full-time service in Shakopee Public Schools at the date of resignation from the District (excluding time spent on unpaid leave) shall be entitled to up to Thirty Thousand Dollars ($30,000) upon departure from the District’s employ. The $30,000 shall be reduced by the amount of the District’s total matching contribution, excluding the earnings from such District contribution, to the teacher’s Minnesota Deferred Compensation Plan and/or Tax Sheltered Annuity calculated through June 30, 2000. Payment shall be placed in a district designated Health Savings Account in the name of the teacher. Payment shall be made by the District on the 15th of the month following their retirement.
Sample 1

Related to Health Savings Account Retirement Benefit

  • Non-Retirement Savings Accounts An account maintained in the Cayman Islands (other than an insurance or Annuity Contract) that satisfies the following requirements under the laws of the Cayman Islands.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the member who is covered under a high deductible health plan. The member must be covered under the HSA plan for the months in which contributions are made. HIGH DEDUCTIBLE HEALTH PLAN (HDHP) is a health plan that satisfies certain requirements with respect to deductibles and out-of-pocket expenses. The plan cannot provide payment for any covered healthcare service until the plan year deductible is satisfied, with the exception of preventive care services. HOSPITAL means a facility: • that provides medical and surgical care for patients who have acute illnesses or injuries; and • is either listed as a hospital by the American Hospital Association (AHA) or accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO).

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Retirement Savings 5.6.1 Principals are eligible to join a KiwiSaver scheme in accordance with the terms of those schemes.

  • Beneficiary Rollovers from Employer-Sponsored Retirement Plans If you are a spouse Beneficiary, nonspouse Beneficiary, or the trustee of an eligible type of trust named as Beneficiary of a deceased employer plan participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan to an inherited IRA. The IRA must be maintained as an inherited IRA, subject to the beneficiary distribution requirements.

  • Retirement Credit Retirement credit for such periods of leave without pay shall be governed by the rules and regulations of the Division of Retirement and the provisions of Chapter 121, Florida Statutes.

  • Group Registered Retirement Savings Plan 9.9.1 The College agrees to implement a group Registered Retirement Savings Plan for participation by employees. For regular employees who wish to participate in the Plan, the College agrees to contribute the total amount of the annual contribution by the fifteenth of the first month of the Benefit Year. The employee shall repay that contribution through payroll deduction in equal instalments throughout the Benefit Year.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

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