AgdaPkt 2003-03-24 - Laserfiche WebLink

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(o. i C.8 3.4 Notice of Eligibility The Administrator shall notify all Employees of their eligibility to participate in the Plan and of the terms of the Plan. SECTION IV - QUALIFIED BENEFITS 4.1 Oualified Benefits A Participant may elect to receive his full compensation for any Plan Year in cash or to have a portion of it applied by the City toward the cost of any Qualified Benefits the City makes available under the Plan. Such Qualified Benefits are listed in Appendix A, attached. 4.2 Election of Oualified Benefits in Lieu of Cash Under this Plan, a Participant may elect to receive one or more of the Qualified Benefits described in Section 4.1 in accordance with the procedure described in Section 4.3. To the extent provided in a memorandum of understanding between the City and a collective bargaining unit representing a Participant, the Participant may waive coverage under any health plan sponsored by the City and receive a cash payment equal to 50% of his City Contribution. A Participant who waives health coverage will not be eligible for any Qualified Benefits under the Plan. For each other Participant, the City Contribution will be allocated first to the Premium Conversion Plan. Any remaining portion of the City Contribution will, at the Participant's election, be applied to provide other Qualified Benefits elected by the Participant. To the extent that the cost of a Participant's elected benefits exceeds his City Contribution the Participant's cash compensation will be reduced pursuant to a completed Salary Reduction Agreement and an amount equal to the reduction will be credited by the City to the appropriate Reimbursement Account(s) and/or contributed by the City to cover the Participant's share of the cost of his health care coverage plan(s). The City shall make payments to the appropriate Qualified Benefit Plan consistent with the Participant's election. 4.3 Domestic Partner Coverage Notwithstanding anything in this Plan to the contrary, payment for Qualified Benefits elected by a Participant with respect to a Domestic Partner will be made first from the Participant's City Contribution and then from reduction of a Participant's cash compensation. To the extent required under federal and state tax laws, the portion of the City Contribution used for this purpose, and the amount contributed through reduction in a Participant's cash compensation, will be included in the Participant's taxable compensation for the applicable Plan year.