Benefits After Retirement. Teachers who retire from Torrington Public Schools shall have medical insurance coverage in accordance with Connecticut General Statutes, Section 10-183.
Benefits After Retirement. Upon retirement of the Employee during the term of this Agreement, the Bank agrees to continue, at no greater cost to Employee than is generally allocated to all employees, full coverage for the Employee, his spouse and his children living in his household under the health, life and disability plans as adopted by the Bank which shall be no less favorable than those in effect on the Effective Date of this Agreement. The Bank agrees to continue such health coverage until both the Employee and his spouse are eligible for coverage by Medicare. When both the Employee and his spouse become eligible for Medicare coverage, the Bank agrees to pay for supplemental coverage for both the Employee and his spouse until the death of the Employee and his spouse. The Employee shall be entitled to a life insurance policy on his life in the maximum amount established by the group life insurance plan from time to time which amount shall be no less than the limit on the Effective Date of three times his annual salary (subject to a $350,000 maximum), provided at the Bank's cost. The Employee shall also be entitled to a life insurance policy on his life in the amount established by the Bank's insurance program for executive officers from time to time. The Bank shall continue to pay to the Employee the annual premiums, which are required to keep the life insurance policy in force, on behalf of the Employee pursuant to the Bank's insurance program for executive officers.
Benefits After Retirement. 1. Effective September 1, 2013, any new retiree (or his/her family) in the education sector who has access to post-retirement benefits (health, dental, life, etc.) and pays premiums for such benefits shall be included in an experience pool segregated from all active employees, such that the pool is self-funded.
Benefits After Retirement. Upon retirement of the Employee at or after attaining age 65 (“Retirement Age”), during the term of this Agreement, the Company agrees to continue, at no greater cost to Employee than is generally allocated to all employees, full coverage for the Employee, his spouse and his children living in his household under the health, life and disability plans as adopted by the Company which shall be no less favorable than those in effect on the Effective Date of this Agreement. The Company agrees to continue such health coverage until both the Employee and his spouse are eligible for coverage by Medicare. When both the Employee and his spouse become eligible for Medicare coverage, the Company agrees to pay for supplemental coverage, at the best level available which includes prescription drug coverage, for both the Employee and his spouse until the death of the Employee and his spouse. The Employee shall be entitled to a life insurance policy on his life, provided at the Company’s cost, in the maximum amount established by the Company’s group life insurance plan from time to time which amount shall be no less than the limit on the Effective Date of three times his annual salary (subject to a $350,000 maximum). The Employee shall also be entitled to an additional life insurance policy on his life in the amount established by the Company’s insurance program for executive officers from time to time. The Company shall continue to pay to the Employee the annual premiums, which are required to keep the life insurance policy in force, on behalf of the Employee pursuant to the Company’s insurance program for executive officers.
Benefits After Retirement. 11.06.01 A member may exercise the right to continued participation in the benefits listed in Articles 11.03, 11.04, and 11.05 at the onset of retirement. Participation in the plan is to be at the member’s own expense.
Benefits After Retirement. The District shall continue to provide retired employees the opportunity to purchase health/welfare insurance premiums for themselves and their dependents at the current group rates, providing said employee has served five (5) consecutive years of service for the District prior to retirement. Premiums shall be payable to the District one month in advance. A District-approved leave shall constitute a year of service for the purpose of eligibility for this benefit.
Benefits After Retirement. In the event the Executive's employment with the Company terminates at or after the term of this Agreement or the Executive retires earlier with the prior consent of the Board, to be determined in its sole discretion (provided, however, that in the event of a Change of Ownership, such consent of the Board shall not be required), the Company shall continue to provide to the Executive and his eligible dependents for the period of the Executive's lifetime medical and dental benefits at least equal to those which would have been provided to the Executive and his eligible dependents under the Company's plan had he not retired, and in the event the Executive and his eligible dependents are not eligible under the terms of the Company's plans to continue to be covered, in such event, the Company shall provide the Executive with substantially equivalent coverage through other sources; provided, however, that if the Executive becomes re-employed with another employer and is eligible to receive medical and dental benefits under another employer's plans, the Company's obligations under this Section 6 shall be reduced to the extent comparable benefits are actually received by the Executive, and any such benefits actually received by the Executive shall be reported promptly to the Company. In addition, at the reasonable request of the Executive, the Company shall provide to the Executive an appropriate office and administrative support commensurate with the Executive's former status as Chief Executive Officer of the Company plus reimbursement of reasonable expenses attendant to the maintenance of such office and retention of such administrative support. At the request of the Executive, the Company shall, in lieu of providing
Benefits After Retirement. Section 5.10(g) Change in Control and Excess Parachute Payments Section 5.15(b) Misappropriation of Intellectual Property
Benefits After Retirement. Employees who retire from the Board may continue to have access to the retiree group coverage plans (extended Health Care, Life Insurance and/or Dental). The full amount of the provisions for such coverage will be paid by the retiree by monthly automatic bank withdrawals authorized by (voided) cheque. It is understood that retired employees form a separate group with respect to administration, experience, and premium schedules. The surviving spouse of a deceased employee, including a retired employee, shall be entitled to continue coverage in the Board’s group insurance plans for a period not exceeding the earliest of the date on which the employee would have reached the age of 65 years or the date on which the surviving spouse remarries. It is understood that a surviving spouse who maintains coverage will form part of the retired employee group with respect to plan administration, experience, and premium schedules. It is further understood that the surviving spouse will pay the full cost of premiums by monthly automatic withdrawals authorized by (voided) cheque.
Benefits After Retirement a) If a member retires prior to age 65 on an OMERS pension, then during the period between the date of retirement and the member reaching age 65, the Board shall pay:
