Common use of Coverage After Retirement Clause in Contracts

Coverage After Retirement. The Board agrees to permit Administrators/Supervisors who have retired from the District under the provisions of the New Jersey Teachers Pension and Annuity Fund and are receiving pension payments there under, to continue their participation in the health insurance program which is the subject of this Article. In order for an Administrator/Supervisor to be eligible to continue participation in said health insurance program after said Administrator/Supervisors’ retirement, said Administrator/Supervisor must have retired after the (10) or more years of service in the Paramus School District and must; within thirty (30) days of retirement from the District, submit to the Board a request in writing for participation in said health insurance program. Each retired Administrator/Supervisor who participates in said health insurance program shall pay the full cost for his/her participation, such payment to be made by semi-annual installments paid in advance. Eligibility for participation in said health insurance program shall cease immediately upon the attainment by the retired Administrator/Supervisor of eligibility to participate in Medicare or upon said Administrator/Supervisor’s death.

Coverage After Retirement. The Board agrees to permit Administrators/Supervisors who have retired from the District under the provisions of the New Jersey Teachers Pension and Annuity Fund and are receiving pension payments there under, to continue their participation in the health insurance program which is the subject of this Article. In order for an Administrator/Administrator/ Supervisor to be eligible to continue participation in said health insurance program after said Administrator/Supervisors’ retirement, said Administrator/Supervisor must have retired after the (10) or more years of service in the Paramus School District and must; within thirty (30) days of retirement from the District, submit to the Board a request in writing for participation in said health insurance program. Each retired Administrator/Supervisor who participates in said health insurance program shall pay the full cost for his/her participation, such payment to be made by semi-annual installments paid in advance. Eligibility for participation in said health insurance program shall cease immediately upon the attainment by the retired Administrator/Supervisor of eligibility to participate in Medicare or upon said Administrator/Supervisor’s death.