Common use of Early Retiree Benefit Clause in Contracts

Early Retiree Benefit. The Employer shall contribute seventy-five percent (75%) of the extended health care and dental premiums for an Early Retirement Plan for full-time employees who qualify in accordance with the OMERS guidelines, with a lifetime maximum of twenty-five thousand dollars ($25,000) for claims.

Early Retiree Benefit. The Employer shall contribute seventy-five percent (75%) of the extended health care and dental premiums for an Early Retirement Plan for full-time employees who qualify in accordance with the OMERS guidelines, with a lifetime maximum of twenty-five thousand dollars ($25,000) for claims. Effective May 2, 2014, this lifetime maximum will increase to fifty thousand dollars ($50,000).