Common use of Continuance of Benefit Plan Clause in Contracts

Continuance of Benefit Plan. The District shall have a program which provides a continued degree of responsibility to the employee upon retirement and to the dependents of a deceased employee. Tier I: Employees hired by the District prior to May 1, 1985 shall be covered by medical, dental, and reduced life insurance plans (one-half of the life insurance provided at time of retirement for employees hired before May 1, 1985) when they retire from District employment provided that they meet the “Rule of 65.” Under the “Rule of 65” an employee’s age plus years of service with the District at the time of retirement must total 65, with a minimum requirement that the employee must be at least age 50 and have at least ten (10) years of continuous service with the District at the time of retirement. Eligible employees’ qualified dependents (as defined by the plan provider) who were covered as dependents at the time of retirement also shall be covered by medical and dental plans.

Continuance of Benefit Plan. The District shall have a program which provides a continued degree of responsibility to the employee upon retirement and to the dependents of a deceased employee. Tier I: Employees hired by the District prior to May 1, 1985 shall be covered by medical, dental, and reduced life insurance plans (one-half of the life insurance provided at time of retirement for employees hired before May 1, 19851985 ) when they retire from District employment provided that they meet the “Rule of 65.” Under the “Rule of 65” an employee’s age plus years of service with the District at the time of retirement must total 65, with a minimum requirement that the employee must be at least age 50 and have at least ten (10) years of continuous service with the District at the time of retirement. Eligible employees’ qualified dependents (as defined by the plan provider) who were covered as dependents at the time of retirement also shall be covered by medical and dental plans.