Benefits of Retiring Employees Sample Clauses

Benefits of Retiring Employees. Effective upon ratification of this Agreement, 13 employees (including reinstated employees and employees returning from a valid 14 reemployment list) with seventeen (17) or more years of benefitted service in the 15 Long Beach Unified School District when they retire at age fifty-five (55) or older 16 shall be eligible to have District payment of insurance premiums for health and 17 hospital insurance for themselves and their dependents. This premium payment will 18 end when the retiree reaches age sixty-seven (67). Medicare coverage will be 19 primary for those employees who are eligible; the District’s plan will provide 20 secondary or umbrella coverage over Medicare payments. 21 22 All retirees and their dependents eligible for Medicare Part A must be registered in 23 the Medicare system in order to qualify for District-paid benefits. All retirees and 24 their dependents must enroll in Medicare Part B. All retirees and their dependents 25 must assign those Medicare Part A (if eligible) and Medicare Part B benefits to the 26 District medical plan carrier they are using in order to qualify for District-paid 27 benefits. This language does not change the years of service and age requirements 28 for Unit members receiving District-paid health benefits upon retirement. 29 Additional information is available from the Risk Management Branch. 30 31 Apply the health benefit cost containment changes, including plan design changes, 32 implemented for active employees to the retirees. 33 34 Employees who retire from the District may remain in a District health and/or dental 35 plan by paying personally the insurance premiums. There is no limit on age. 36 37 38 39 40 41 42 43 44 45 46
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Benefits of Retiring Employees. Effective upon ratification of this Agreement, 33 employees (including reinstated employees and employees returning from a valid 34 reemployment list) with seventeen (17) or more years of benefitted service in the 35 Long Beach Unified School District when they retire at age fifty-five (55) or older 36 shall be eligible to have District payment of insurance premiums for health and 37 hospital insurance for themselves and their dependents. This premium payment will 38 end when the retiree reaches age sixty-seven (67). Medicare coverage will be 39 primary for those employees who are eligible; the District’s plan will provide 40 secondary or umbrella coverage over Medicare payments. 41 42 All retirees and their dependents eligible for Medicare Part A must be registered in 43 the Medicare system in order to qualify for District-paid benefits. All retirees and 44 their dependents must enroll in Medicare Part B. All retirees and their dependents 45 must assign those Medicare Part A (if eligible) and Medicare Part B benefits to the 46 District medical plan carrier they are using in order to qualify for District-paid 47 benefits. This language does not change the years of service and age requirements 1 for Unit members receiving District-paid health benefits upon retirement.
Benefits of Retiring Employees. Effective upon ratification of this Agreement, 20 employees (including reinstated employees and employees returning from a valid 21 reemployment list) with fifteen (15) or more years of benefitted service in the Long
Benefits of Retiring Employees. Effective upon ratification of this Agreement, employees (including reinstated employees and employees returning from a valid reemployment list) with fifteen (15) or more years of benefitted service in the Long Beach Unified School District when they retire at age fifty-five (55) or older shall be eligible to have District payment of insurance premiums for health and hospital insurance for themselves and their dependents. This premium payment will end when the retiree reaches age sixty-five (65). Medicare coverage will be primary for those employees who are eligible; the District’s plan will provide secondary or umbrella coverage over Medicare payments. All retirees and their dependents eligible for Medicare Part A must be registered in the Medicare system in order to qualify for District-paid benefits. All retirees and their dependents must enroll in Medicare Part B. All retirees and their dependents must assign those Medicare Part A (if eligible) and Medicare Part B benefits to the District medical plan carrier they are using in order to qualify for District-paid benefits. This language does not change the years of service and age requirements for Unit members receiving District-paid health benefits upon retirement. Additional information is available from the Risk Management Branch. Employees who retire from the District may remain in a District health and/or dental plan by paying personally the insurance premiums. There is no limit on age.

Related to Benefits of Retiring Employees

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Continuing Employees “Continuing Employees” is defined in Section 6.4 of the Agreement.

  • Pre-Retirement Leave An Employee scheduled to retire and to receive a superannuation allowance under the applicable pension Acts or who has reached the mandatory retiring age, shall be entitled to: (a) A special paid leave for a period equivalent to fifty percent (50%) of his/her accumulated sick leave credit, to be taken immediately prior to retirement; or (b) A special cash payment of an amount equivalent to the cash value of fifty percent (50%) of his/her accumulated sick leave credit, to be paid immediately prior to retirement and based upon his/her current rate of pay.

  • Retired Employees An employee who retires from University service, at age 55 with five (5) years of service, age 50 with fifteen (15) years of service or at any age with thirty (30) years of service, who is eligible to maintain participation in the UPlan, may indefinitely maintain medical and dental coverage with the University at his/her own expense. Medicare coverage is primary for retirees over 65, and for totally disabled employees who qualify for Medicare, and must coordinate with the UPlan Retiree Medical plan options. If retired or totally disabled employees elect not to continue coverage in the UPlan at the time they leave employment, they may not elect to do so at a later date. (see also Section 5E.)

  • Rehired Employees Amounts forfeited upon termination of employment because of the failure to meet the applicable vesting requirements shall not be reinstated or re-credited if an individual is subsequently rehired or re-employed by the School Corporation. However, if the board shall have approved a leave of absence of not more than one (1) fiscal year for an employee, such period of leave shall not result in forfeiture provided the employee shall promptly return to employment following the expiration of the period of leave.

  • Public Employees Retirement System “PERS”) Members.

  • Newly Hired Employees All employees hired to an insurance eligible position must make their benefit elections by their initial effective date of coverage as defined in this Article, Section 5C. Insurance eligible employees will automatically be enrolled in basic life coverage. If employees eligible for a full Employer Contribution do not choose a health plan administrator and a primary care clinic by their initial effective date, and do not waive medical coverage, they will be enrolled in a Benefit Level Two clinic (or Level One, if available) that meets established access standards in the health plan with the largest number of Benefit Level One and Two clinics in the county of the employee’s residence at the beginning of the insurance year. If an employee does not choose a health plan administrator and primary care clinic by their initial effective date, but was previously covered as a dependent immediately prior to their initial effective date, they will be defaulted to the plan administrator and primary care clinic in which they were previously enrolled.

  • Sick Leave Credit-Based Retirement Gratuities 1) A Teacher is not eligible to receive a sick leave credit gratuity after August 31, 2012, except a sick leave credit gratuity that the Teacher had accumulated and was eligible to receive as of that day. 2) If the Teacher is eligible to receive a sick leave credit gratuity, upon the Teacher’s retirement, the gratuity shall be paid out at the lesser of, a) the rate of pay specified by the board’s system of sick leave credit gratuities that applied to the Teacher on August 31, 2012; and b) the Teacher’s salary as of August 31, 2012. 3) If a sick leave credit gratuity is payable upon the death of a Teacher, the gratuity shall be paid out in accordance with subsection (2). 4) For greater clarity, all eligibility requirements must have been met as of August 31, 2012 to be eligible for the aforementioned payment upon retirement, and the Employer and Union agree that any and all wind-up payments to which Teachers without the necessary years of service were entitled to under Ontario Regulation 01/13: Sick Leave Credits and Sick Leave Credit Gratuities, have been paid. 5) For the purposes of the following boards, despite anything in the board’s system of sick leave credit gratuities, it is a condition of eligibility to receive a sick leave credit gratuity that the Teacher have ten (10) years of service with the board: i. Near North District School Board ii. Avon Maitland District School Board iii. Xxxxxxxx-Xxxxxxxxx District School Board

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