Retiree Medical Savings Account Sample Clauses

Retiree Medical Savings Account. The City no longer contributes to the Retiree Medical Savings Account (“RMSA”). Previously contributed funds shall remain in the RMSA and shall remain in the individual accounts of each employee hired on or after January 1, 2008 but before October 1, 2014. The RMSA Plan Document, including vesting schedule and distribution authority, shall remain in effect. The City shall pay any administrative fees associated with the Retiree Medical Savings Account on behalf of active employees. Vesting: City contributions to the RMSA are vested on the following schedule: Years of Service with the City (from date of permanent hire) % of Account 25 years 100% 20 years 75% plus 5% for each additional year 15 years 50% plus 5% for each additional year 10-15 years 25% Less than 10 years 0%
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Retiree Medical Savings Account. Effective October 16, 2005, full-time and part- time bargaining unit employees will be able to participate in a Retiree Medical Savings Account (“RMSA”) Program. The RMSA Program will provide an account to which eligible employees, who elect to do so, may contribute up to $4,500 per year, on an after-tax basis. Amounts in an employee’s RMSA can be used for qualified medical expenses. A participating employee will be eligible to continue in a group medical insurance program maintained by or on behalf of the Hospital. The terms of the RMSA Program are as follows:

Related to Retiree Medical Savings Account

  • 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).

  • 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.

  • Certain Savings Accounts 1. An account established and maintained in the Slovak Republic that satisfies any of the following:

  • Retiree Medical Employee shall be eligible for lifetime medical coverage, upon retirement, subject to the monthly payment limit of the Kaiser Plan premium amount for an employee and spouse. Eligibility for lifetime medical is subject to the Employee completing five (5) years of continuous service at the level of Department Head or above and retiring from the City of Fontana as an annuitant of the Public employees Retirement System (PERS). Employee shall cease to be eligible for lifetime medical coverage paid by the City if the Employee reinstates as an active member of PERS or otherwise fails to meet the PERS definition of an annuitant.

  • RETIREE HEALTH SAVINGS PLAN Effective, December 24, 2006, or as soon as administratively possible, the County shall establish a retiree health savings plan (RHSP) by contributing an amount of $25.00 to the employee’s RHSP each biweekly pay period.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

  • Retiree Medical Benefits If Executive is or would become fifty-five (55) or older and Executive's age and service equal sixty-five (65) and Executive has at least five (5) years of service with the Company within two (2) years of Change in Control, Executive is eligible for retiree medical benefits (as such are determined immediately prior to Change in Control). Executive is eligible to commence receiving such retiree medical benefits based on the terms and conditions of the applicable plans in effect immediately prior to the Change in Control.

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

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • 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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