Optional Benefits definition
Optional Benefits. “Optional Benefits” means those District-approved insurance programs optionally available to employees outside the Basic Benefits programs, including short-term disability, additional individual life, long-term care, pre-paid legal services, and cancer insurance programs, which are not Basic Benefits as described in Section 10.5 above.
Optional Benefits. We may discontinue or restrict the availability of an optional benefit. • Benefits available to you may vary based on employer and state approval. Participants should refer to their plan documents for available benefits; and • If a participant elects to pay advisory fees from the Variable Investment Options, such deductions will reduce the death benefit amount and also may be subject to federal and state income taxes and a 10% federal tax penalty. See the “Benefits Available Under the Contract - Other Optional Benefits” and “MAKING WITHDRAWALS: ACCESSING THE MONEY IN YOUR CONTRACT” sections of this summary prospectus. Tax Implications • You should consult with a tax and/or legal adviser to determine the tax implications of an investment in, and distributions received under, the Contract; • There is no additional tax benefit to the Investor if the Contract is purchased through a tax-qualified plan or individual retirement account (“IRA”); and • Withdrawals will be subject to ordinary income tax and may be subject to tax penalties. See “FEDERAL TAX CONSIDERATIONS” in the full Contract Prospectus.
Optional Benefits. We may discontinue or restrict the availability of an optional benefit; • The availability of certain benefits may vary based on employer and state approval; and • If a participant elects to pay advisory fees from the Variable Investment Options, such deductions will reduce the death benefit amount and also may be subject to federal and state income taxes and a 10% federal tax penalty. See the “
Examples of Optional Benefits in a sentence
This includes Basic Life, Health and Dental, and Optional Benefits.
Benefits: Medical insurance Dental insurance Life Insurance Long and short-term disability insurance Ten holidays per year Sick leave Optional Benefits: 401(k) Plan Flexible Spending Account Program Supplemental Life Insurance All Standard and Optional Benefits will be as provided by Company to employees generally, and are subject to modification from time to time by Company.
El Dorado County Health Care Account - Eligible employees may elect to receive medical and dental benefits under the County Optional Benefits Plan.
The City shall contract with CalPERS for Variable Rate Cost Sharing of up to the Permanent Cost Share of 1.868% under Government Code Section 20516(a), based on the optional benefits established in the Miscellaneous Plan of the City’s contract with CalPERS for the 2%@55 and One-Year Final Compensation Optional Benefits.
The County may reopen negotiations on this Article and other provisions of the MOU (e.g., Optional Benefits program in Article VII, Section 4, Flexible Spending Accounts in Article XX), for purposes of addressing issues resulting from the implementation of the Patient Protection and Affordable Care Act (ACA), including but not limited to, the potential impact of the Excise Tax (commonly known as the “Cadillac Tax”) on high cost employer-sponsored health coverage.
More Definitions of Optional Benefits
Optional Benefits mean the additional benefits and services that the Contractor offered to the City in the Contractor’s proposal, as described in Section 77 and Exhibit 17 of this Agreement.
Optional Benefits. We may discontinue or restrict the availability of an optional benefit. · Benefits available to you may vary based on employer and state approval. Participants should refer to their plan documents for available benefits; and · If a participant elects to pay advisory fees from the Variable Investment Options, such deductions will reduce the death benefit amount and also may be subject to federal and state income taxes and a 10% federal tax penalty. See the “Benefits Available Under the Contract - Other Optional Benefits” and “MAKING WITHDRAWALS: ACCESSING THE MONEY IN YOUR CONTRACT” sections of this summary prospectus. ISP.75996-25 (Single Pay Contracts) 7
Optional Benefits. Optional Benefit Elected: Optional Election Charges: [Maximum Anniversary Value 0.20% Optional Death Benefit] For Inquiries Call ▇-▇▇▇-▇▇▇-▇▇▇▇
Optional Benefits means the benefits available to a Participant under the plans of the Board set forth in Schedule A. “Optional Benefits” does not include any benefits excluded from gross income pursuant to Sections 106(b), 119, and 124 of the Code, nor any other benefit determined to be impermissible under a plan meeting the requirements of Section 125 of the Code.
Optional Benefits. We may discontinue or restrict the availability of an optional benefit; • The availability of certain benefits may vary based on employer and state approval; and • If a participant elects to pay advisory fees from the Variable Investment Options, such deductions will reduce the death benefit amount and also may be subject to federal and state income taxes and a 10% federal tax penalty. See the “Benefits Available Under the Contract - Other Optional Benefits” and “MAKING WITHDRAWALS: ACCESSING THE MONEY IN YOUR CONTRACT” sections of this summary prospectus. Tax Implications • You should consult with a tax and/or legal adviser to determine the tax implications of an investment in, and distributions received under, the Contract; • There is no additional tax benefit to the Investor if the Contract is purchased through a tax-qualified plan or individual retirement account (“IRA”); and • Withdrawals will be subject to ordinary income tax and may be subject to tax penalties. See “FEDERAL TAX CONSIDERATIONS” in the full Contract Prospectus.
Optional Benefits. Additional Life Insurance, Short and /or Long-term Disability Plan, and 401(k) Plan. The Core benefits are provided by the Hospital to eligible full-time nurses. Eligible regular part-time core nurses, with at least forty (40) hours scheduled each pay period and who have not elected to receive the thirteen percent (13%) premium in lieu of benefits, may purchase medical/vision and dental insurance at the part-time rate. Part- time non-core nurses, and any part-time nurse who has elected to receive the thirteen percent (13%) premium in lieu of benefits, are not eligible to participate in the Hospital’s Core benefits. The Hospital will contribute as described below for the health and vision components of the Core Benefits described above. For Plan Years 2016, 2017 and 2018, the Hospital will base its contributions and the employee’s contribution for the health and vision components of the Core Benefits (standard plan) described above on the premium sharing arrangement described and reflected in the percentages described in the table below: Level Monthly Hospital Contribution Monthly Employee Contribution Total Monthly Cost Full-time Part-time Full-time Part-time Employee only 85-100% 67% 0-15% 33% 100% Employee & Spouse 80% 74% 20% 26% 100% Employee & Child(ren) 80% 71% 20% 29% 100% Single Employee & Child(ren) 83% 74% 17% 26% 100% Employee & Family 77% 74% 23% 26% 100% The Hospital may offer plans in addition to the standard plan, at different contribution rates. Participation in plans other than the standard plan shall be voluntary. Eligible employees may use the Hospital's flexible credit contribution toward the employee cost for Core or Optional Benefits. In addition, the Hospital continues the Section 125 plan which employees may elect to fund with pre-tax dollars for uses permitted by the IRS.
Optional Benefits. Additional Life Insurance, Short and /or Long-term Disability Plan, and 401 (k) Plan. The Core benefits are provided by the Hospital to eligible full-time nurses. Eligible regular part-time core nurses, with at least 40 hours scheduled each pay period and who have not elected to receive the 13% premium in lieu of benefits, may participate in the Hospitals Core and Optional Benefits at the part-time rate. Part-time non-core nurses, and any part-time nurse who has elected to receive the 13% premium in lieu of benefits, are not eligible to participate in the Hospital’s Core benefits. The Hospital will contribute as described below for the health and vision components of the Core Benefits described above. For Plan Years 20192016, 20202017 and 2021 2018, the Hospital will base its contributions and the employee’s contribution for the health and vision components of the Core Benefits (standard plan) described above on the premium sharing arrangement described and reflected in the percentages described in the table below: Level Monthly Hospital Contribution Monthly Employee Contribution Total Monthly Cost Full-time Part-time Full-time Part-time The Hospital may offer plans in addition to the standard plan, at different contribution rates. Participation in plans other than the standard plan shall be voluntary. Eligible employees may use the Hospital's flexible credit contribution toward the employee cost for Core or Optional Benefits. In addition, the Hospital continues the Section 125 plan which employees may elect to fund with pre-tax dollars for uses permitted by the IRS.