Deferred Retirement. Effective two (2) months following an approved agreement, employees who resign and file for a deferred retirement may continue in their County group health and dental plan. The following conditions and limitations apply: A. Life insurance coverage is not included. B. To be eligible to continue health and dental coverage, the employee must: 1. be qualified for a deferred retirement under the 1937 Retirement Act provisions; 2. be an active member of a County group health and/or dental plan at the time of filing their deferred retirement application and elect to continue health benefits; 3. be eligible for a monthly allowance from the Retirement System and direct receipt of a monthly allowance within twenty-four (24) months of their application for deferred retirement; 4. file an election to defer retirement and to continue health benefits hereunder with the County Benefits Division within thirty (30) days before their separation from county service. C. Deferred retirees who elect continued health benefits hereunder may maintain continuous membership in their County health and/or dental plan group during the period of deferred retirement at their full personal expense, by paying the full premium for their health and dental coverage on or before the eleventh (11th) of each month to the Auditor-Controller. When they begin to receive retirement benefits, they will qualify for the same health and/or dental plan coverage and County subvention to which retirees who did not defer retirement are entitled. D. Deferred retirees who elect continued health benefits hereunder may elect not to maintain participation in their County health and/or dental plan during their deferred retirement period, and may instead qualify for the same coverage and County subvention in any County health and/or dental plan when they begin to receive retirement benefits as retirees who did not defer retirement are entitled; provided reinstatement to a County group health and/or dental plan with County subvention occurs no sooner than the first of the month following a full three (3) calendar month waiting period after the commencement of their monthly allowance. E. Eligibility for County subvention will not exist hereunder unless and until the member draws a monthly retirement allowance within not more than twenty-four (24) months after separation from County service. F. Deferred retirees are required to meet the same eligibility provisions for health/dental plans as active/retired employees.
Appears in 1 contract
Samples: Memorandum of Understanding
Deferred Retirement. Effective two (2) months following an approved agreementEmployees covered by Section 18.1 - County Plans, employees who resign and file for a deferred retirement retirement, and their eligible family members, may continue in their County group health and medical and/or dental plan. The following conditions and limitations apply:
A. Medical and dental coverage during the deferred retirement period is at the sole expense of the employee, without any County contributions.
B. Life insurance coverage is not included.
B. C. To be eligible to continue health medical and dental coverage, the employee must:
1. be qualified for a deferred retirement under the 1937 Retirement Act provisions;
2. be an active member of a County group health medical and/or dental plan at the time of filing their deferred retirement application and elect to continue health benefits;
3. be eligible for a monthly allowance from the Retirement System and direct receipt of a monthly allowance within twenty-four (24) months of their application for deferred retirement;
4. file an election to defer retirement and to continue receive retiree health benefits hereunder with the County Benefits Division within thirty (30) days before their separation from county service.
C. D. Deferred retirees who elect continued health benefits hereunder may maintain continuous membership in their County health medical and/or dental plan group during the period of deferred retirement at their full personal expense, by paying the full premium for their health medical and dental coverage on or before the eleventh tenth (11th10th) of each month to the Auditor-Controller. When they begin to receive retirement benefits, they will qualify for the same health medical and/or dental plan coverage and County subvention to which similarly situated retirees who did not defer retirement are entitled.
D. E. Deferred retirees who may elect continued retiree health benefits hereunder but may elect not to maintain participation in their County health medical and/or dental plan during their deferred retirement period, and may instead qualify for the same coverage and County subvention in any County health and/or dental plan when . When they begin to receive retirement benefits benefits, they will qualify for the same health coverage pursuant to Section 18.7, subsection (A), above, as similarly situated retirees who did not defer retirement are entitled; provided reinstatement to a County group health and/or dental plan with County subvention occurs no sooner than the first of the month following a full three (3) calendar month waiting period after the commencement of their monthly allowance.
E. Eligibility for County subvention will not exist hereunder unless and until the member draws a monthly retirement allowance within not more than twenty-four (24) months after separation from County service.
F. Deferred retirees are required to meet the same eligibility provisions for health/dental plans as active/retired employees.retirement, provided
Appears in 1 contract
Samples: Memorandum of Understanding
Deferred Retirement. Effective two (2) months following an approved agreement, employees who resign and file for a deferred retirement may continue in their County group health and dental plan. The following conditions and limitations apply:
A. Life insurance coverage is not included.
B. To be eligible to continue health and dental coverage, the employee must:
1. be qualified for a deferred retirement under the 1937 Retirement Act provisions;
2. be an active member of a County group health and/or dental plan at the time of filing their deferred retirement application and elect to continue health benefits;
3. be eligible for a monthly allowance from the Deferred Retirement System you must have at least 10 years of service credit and direct receipt not yet be 55 years of age when terminating employment. The benefit calculation for a monthly allowance within twenty-four (24) months Deferred Retirement is equal to 2 percent of their application Final Compensation for deferred retirement;
4each year of service. file an election to defer The retirement and to continue health benefits hereunder with the County Benefits Division within thirty (30) days before their separation from county service.
C. Deferred retirees who elect continued health benefits hereunder may maintain continuous membership will be in their County health and/or dental plan group during the period of deferred retirement at their full personal expense, by paying the full premium for their health and dental coverage effect on or before the eleventh (11th) of each month to the Auditor-Controller. When they begin to receive retirement benefits, they will qualify for the same health and/or dental plan coverage and County subvention to which retirees who did not defer retirement are entitled.
D. Deferred retirees who elect continued health benefits hereunder may elect not to maintain participation in their County health and/or dental plan during their deferred retirement period, and may instead qualify for the same coverage and County subvention in any County health and/or dental plan when they begin to receive retirement benefits as retirees who did not defer retirement are entitled; provided reinstatement to a County group health and/or dental plan with County subvention occurs no sooner than the first of the month following after attaining age 55. You must complete an Application for Retirement Allowance after you terminate covered employment to receive a full three (3) calendar month waiting period after the commencement Deferred Retirement. If you are removed from employment for cause on charges of their monthly allowance.
E. Eligibility misconduct or delinquency, you are ineligible for County subvention Deferred Retirement benefits. Your death benefits coverage will not exist hereunder unless be in effect between the time you terminate employment and until your Deferred Retirement becomes effective. If you die between the time you terminate employment and your retirement becomes effective, the last named beneficiary will receive the return of your pension contributions. There is no other death benefit under these circumstances. At any time before your Deferred Retirement becomes effective, you may change your mind and apply for a lump sum withdrawal of your pension contributions instead. Once you cancel your Deferred Retirement and withdraw your contributions, all the rights and privileges of membership end. Members electing Deferred Retirement, who are covered under the State Health Benefits Program cannot transfer their active health care coverage to the retired group of the State Health Benefits Program. Those electing Deferred Retirement may be eligible for continuation of State Health Benefits coverage under federal legislation called "COBRA" for up to 18 months if they were covered by the State Health Benefits Program just prior to terminating employment. If the actual retirement commences while the 18 months of COBRA coverage is in effect, the retiree may then transfer from the COBRA coverage and continue the State Health Benefits coverage into retirement. If the 18 months of COBRA coverage ends before the retirement commences, the member draws will not be entitled to maintain health coverage through the State Health Benefits Program retired group. Participants should contact their employer to see if they qualify for COBRA continuation. If you have an outstanding obligation for the purchase of additional service credit, interest may be assessed if there is a monthly lapse in payments of two years or more. To qualify for Ordinary Disability Retirement you must: be a member in service at the time the application is filed with the Division of Pensions and Benefits (an official leave of absence is considered in service); have 4 or more years of New Jersey service credit (out-of-state, U.S. Government and Military purchases cannot be used to attain the four years); be considered totally and permanently disabled; and submit medical reports certifying your disability. All medical information is confidential and used only by the Board of Trustees and its Medical Review Board in reviewing your claim. The annual benefit calculation for an Ordinary Disability Retirement is equal to 40 percent of your Final Compensation or 1.5 percent of your Final Compensation for each year of service credit, whichever is higher. The Application for Disability Retirement contains forms for your physician(s) to complete and a release for hospital records related to your disability. The application requires corroboration of your condition by at least two medical sources. It is the applicant's responsibility to arrange for all physicians' statements and to have the hospital records sent to the Division. Applicants may be examined by physicians selected by the retirement allowance within not system. All medical information is confidential and only for use by the PFRS Board of Trustees and the Board's Medical Review Board in evaluating your application. The more than twenty-four (24) months after separation complete the application, the faster it can be evaluated, although the process may take three to five months. Approval for Workers' Compensation or Social Security Disability benefits has no bearing on your application for disability retirement from County servicethe PFRS.
F. Deferred retirees are required to meet the same eligibility provisions for health/dental plans as active/retired employees.
Appears in 1 contract
Samples: Collective Bargaining Agreement
Deferred Retirement. Effective two (2) months following an approved agreementEmployees covered by Section 18.1 - County Plans, employees who resign and file for a deferred retirement retirement, and their eligible family members, may continue in their County group health and medical and/or dental plan. The following conditions and limitations apply:
A. Medical and dental coverage during the deferred retirement period is at the sole expense of the employee, without any County contributions.
B. Life insurance coverage is not included.
B. C. To be eligible to continue health medical and dental coverage, the employee must:
1. be qualified for a deferred retirement under the 1937 Retirement Act provisions;
2. be an active member of a County group health medical and/or dental plan at the time of filing their deferred retirement application and elect to continue health benefits;
3. be eligible for a monthly allowance from the Retirement System and direct receipt of a monthly allowance within twenty-four (24) months of their application for deferred retirement;
4. file an election to defer retirement and to continue receive retiree health benefits hereunder with the County Benefits Division within thirty (30) days before their separation from county service.
C. Deferred X. Xxxxxxxx retirees who elect continued health benefits hereunder may maintain continuous membership in their County health medical and/or dental plan group during the period of deferred retirement at their full personal expense, by paying the full premium for their health medical and dental coverage on or before the eleventh tenth (11th10th) of each month to the Auditor-ControllerEmployee Benefits Services Unit. When they begin to receive retirement benefits, they will qualify for the same medical and/or dental plan coverage and County subvention to which similarly situated retirees who did not defer retirement are entitled.
X. Xxxxxxxx retirees may elect retiree health benefits hereunder but may elect not to maintain participation in their County medical and/or dental plan during their deferred retirement period. When they begin to receive retirement benefits, they will qualify for the same health and/or dental plan coverage and County subvention pursuant to which Section 18.7, subsection (A), above, as similarly situated retirees who did not defer retirement are entitled.
D. Deferred retirees who elect continued health benefits hereunder may elect not to maintain participation in their County health and/or dental plan during their deferred retirement periodretirement, and may instead qualify for the same coverage and County subvention in any County health and/or dental plan when they begin to receive retirement benefits as retirees who did not defer retirement are entitled; provided reinstatement to a County group health and/or dental plan with County subvention occurs no sooner than the first of the month will only occur following a full three (3) full calendar month waiting period after the commencement of month in which their monthly allowanceretirement allowance commences.
E. Eligibility F. Employees who elect deferred retirement will not be eligible in any event for County health plan subvention will not exist hereunder unless and until the member draws a monthly retirement allowance within not more than twenty-four (24) months after separation from County service.
F. Deferred X. Xxxxxxxx retirees and their eligible family members are required to meet the same eligibility provisions for health/dental plans retiree health coverage as active/retired employeessimilarly situated retirees who did not defer retirement.
Appears in 1 contract
Samples: Memorandum of Understanding
Deferred Retirement. Effective two (2) months following an approved agreement, employees who resign and file for a deferred retirement may continue in their County District group health and dental plan. The ; the following conditions and limitations apply:
A. Life insurance coverage is not included.
B. To be eligible to continue health and dental coverage, the employee must:
1. be qualified for a deferred retirement under the 1937 Retirement Act provisions;.
2. be an active member of a County District group health and/or dental plan at the time of filing their deferred retirement application and elect to continue health benefits;.
3. be eligible for a monthly allowance from the Retirement System and direct receipt of a monthly allowance within twenty-four (24) months of their application for deferred retirement;.
4. file an election to defer retirement and to continue health benefits hereunder with the County District Benefits Division within thirty (30) days before their separation from county District service.
C. Deferred retirees who elect continued health benefits hereunder may maintain continuous membership in their County District health and/or dental plan group during the period of deferred retirement at their full personal expense, by paying the full premium for their health and dental coverage on or before the eleventh (11th) 11th of each month to the Auditor-ControllerDistrict. When they begin to receive retirement benefits, they will qualify for the same health and/or dental plan coverage and County District subvention to which retirees who did not defer retirement are entitled.
D. Deferred X. Xxxxxxxx retirees who elect continued health benefits hereunder may elect not to maintain participation in their County District health and/or dental plan during their deferred retirement period, ; and may instead qualify for the same coverage and County District subvention in any County District health and/or dental plan when they begin to receive retirement benefits as retirees who did not defer retirement are entitled; provided reinstatement to a County District group health and/or dental plan with County District subvention occurs no sooner than the first of the month following a full three (3) calendar month waiting period after the commencement of their monthly allowance.
E. Eligibility for County District subvention will not exist hereunder unless and until the member draws a monthly retirement allowance within not more than twenty-four (24) months after separation from County District service.
F. Deferred retirees are required to meet the same eligibility provisions for health/dental plans as active/retired employees.
Appears in 1 contract
Samples: Memorandum of Understanding
