Qualifying Event. The employee who experiences a qualifying event as defined above and received an Opt-Out cash payment shall repay the City the pro-rated share beginning January 1 through the date in which enrollment in the City’s insurance coverage begins. The repayment amount shall be calculated by the Finance Department and approved by the City Administrator. In the event that the employee does not have sufficient funds to repay the City, a payment plan may be approved by the City Administrator and the pro-rated amount will be repaid no later than 3 months after enrollment in the City’s insurance plan.
Appears in 3 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement