Continuation of Coverage After Retirement Sample Clauses

Continuation of Coverage After Retirement. The city will pay the employer’s share of the health insurance premiums of the City of Moline’s group health insurance program for retired employees aged 55 to 65 (police and fire, aged 50 to 65) and for those employees who are on a disability pension at any age. Employees retiring as deferred pensioners as defined in 215 ILCS 5/367g may participate, along with dependents, in the city’s health insurance program, but completely at their own cost until the month in which the employee attains the age of fifty (50) years, at which time the city will pay for the employee’s participation in accordance with the schedule of rates herein. However, the city shall not pay the health insurance premium for those retired who are eligible to be covered by another health insurance program due to subsequent employment. Furthermore, the city shall require the retired or disabled employee to file a statement annually indicating that the employee is not eligible through employment with another employer to be covered by another health insurance program. If a retiree, once eligible, becomes ineligible to be covered by another health insurance program or leaves such other employment, that retiree shall be allowed coverage under the city’s group health insurance program at the then bargained for rate for said retiree’s coverage type and age category. However, any coverage under said group health insurance shall be such that Medicare shall be the primary coverage. Any employee who retires on or prior to April 1, 1988, shall have the right to choose the following coverage options under the health insurance program:
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Continuation of Coverage After Retirement. For employees hired prior to January 1, 2020, the city will pay the employer’s share of the health insurance premiums of the City of Moline’s group health insurance program for retired employees aged 55 to 65 (police and fire, aged 50 to 65) and for those employees who are on a disability pension at any age. Employees retiring as deferred pensioners as defined in 215 ILCS 5/367g may participate, along with dependents, in the city’s health insurance program, but completely at their own cost until the month in which the employee attains the age of fifty (50) years, at which time the city will pay for the employee’s participation in accordance with the schedule of rates herein. However, the city shall not pay the health insurance premium for those retired who are eligible to be covered by another health insurance program due to subsequent employment. For employees hired on or after January 1, 2020, the city will not pay any portion of the health insurance premiums of the City of Moline’s group health insurance program for retired employees under the age of eligibility for Medicare. In lieu of paying a portion of the health insurance premiums, the city will contribute one thousand dollars ($1,000) per year on the first full pay period beginning on or after January 1 to a Retiree Health Savings account on behalf of non-probationary employees hired on or after January 1, 2020. Said employees will contribute $10.00 per pay period to their Retiree Health Savings account through a payroll deduction. Furthermore, the city shall require the retired or disabled employee, regardless of date of hire, who participate in the city’s health insurance program to file a statement annually indicating that the employee is not eligible through employment with another employer to be covered by another health insurance program. If a retiree, once eligible, becomes ineligible to be covered by another health insurance program or leaves such other employment, that retiree shall be allowed coverage under the city’s group health insurance program at the then bargained for rate for said retiree’s coverage type, hire date category and age category. However, any coverage under said group health insurance shall be such that Medicare shall be the primary coverage. Any employee who retires on or prior to April 1, 1988, shall have the right to choose the following coverage options under the health insurance program:

Related to Continuation of Coverage After Retirement

  • Re-employment After Retirement Employees who have reached retirement age as prescribed under the Pension (Municipal) Act and continue in the Employer's service, or are re-engaged within three (3) calendar months of retirement, shall continue at their former increment step in the pay rate structure of the classification in which they are employed, and the employee's previous anniversary date shall be maintained. All perquisites earned up to the date of retirement shall be continued or reinstated.

  • Benefit Eligibility For purposes of the Benefit Plan entitlement, common-law and same sex relationships will apply as defined.

  • Employees - Special Eligibility The following employees are also eligible to participate in the Group Insurance Program:

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Coverage Selection Prior to Retirement An employee who retires and is eligible to continue insurance coverage as a retiree may change his/her health or dental plan during the sixty (60) calendar day period immediately preceding the date of retirement. The employee may not add dependent coverage during this period. The change takes effect on the first day of the month following the date of retirement.

  • 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.

  • Contribution Formula Dental Coverage a. Faculty Member Coverage. For faculty member dental coverage, the Employer contributes an amount equal to the lesser of ninety percent (90%) of the faculty member premium of the State Dental Plan, or the actual faculty member premium of the dental plan chosen by the faculty member. However, for calendar years beginning January 1, 2014, and January 1, 2015, the minimum employee contribution shall be five dollars ($5.00) per month.

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