Common use of Early Retiree Insurance Allocation Clause in Contracts

Early Retiree Insurance Allocation. For the 2024-2025 year, the monthly insurance cap for eligible retirees shall be one thousand one hundred dollars ($1,100.00) per month. For the 2025-2026 year, the monthly insurance cap for eligible retirees shall be one thousand one hundred dollars ($1,100.00) per month. A. Eligible classified employees shall be entitled to retire early and receive the insurance benefit after they reach sixty (60) years of age and meet the requirements in this Article. B. Classified employees hired on or after July 1, 1997 and before July 1, 2002 shall be entitled to retire early under this program after having been employed by the District for at least twelve (12) continuous years. Until the individual reaches sixty- five (65) years of age, the District will purchase for each retired employee up to the same single person health, dental, and vision insurance that is purchased for members of the bargaining unit in an amount not to exceed the amounts specified in this Article (12.17.1). C. Classified employees hired on or after July 1, 2002 but before July 1, 2011 shall be entitled to retire early under this program after having been employed by the District for at least fifteen (15) continuous years. Until the individual reaches sixty- five (65) years of age, the District will purchase for each retired employee up to the same single person health, dental, and vision insurance that is purchased for members of the bargaining unit as per this Article (12.17.1). D. Eligible employees hired prior to July 1, 2001 will receive one hundred percent (100%) of cap. Employees hired on or after July 1, 2001 will receive the insurance payment in the following amounts: 30 years or more continuous service 100% of cap 25-29 years continuous service 90% of cap 20-25 years continuous service 80% of cap 15-20 years continuous service 75% of cap E. The District will pay for the eligible early retiree’s insurance until the employee turns sixty-five (65) years of age or becomes eligible for Medicare. F. Payout Option. In lieu of any future medical and dental insurance listed in this Article 18 the employee may select a yearly payout of fifty percent (50%) of the premium at the time of eligibility for the Districts’ Early Retirement benefit for up to the time limits of the applicable section or until the employee reaches sixty-five (65) years of age whichever is earlier. The employee is responsible for reviewing this option with the current health benefits carrier to determine rules, guidelines and regulations for current and future eligibility.

Early Retiree Insurance Allocation. For the 20242022-2025 2023 year, the monthly insurance cap for eligible retirees shall be one thousand one nine hundred ten dollars ($1,100.00910) per month. For the 20252023-2026 2024 year, the monthly insurance cap for eligible retirees shall be one thousand one nine hundred and ten dollars ($1,100.00910.00) per month. A. Eligible X. Xxxxxxxx classified employees shall be entitled to retire early and receive the insurance benefit after they reach sixty (60) years of age and meet the requirements in this Article. B. Classified employees hired on or after July 1, 1997 and before July 1, 2002 shall be entitled to retire early under this program after having been employed by the District for at least twelve (12) continuous years. Until the individual reaches sixty- sixty-five (65) years of age, the District will purchase for each retired employee up to the same single person health, dental, and vision insurance that is purchased for members of the bargaining unit in an amount not to exceed the amounts specified in this Article (12.17.1). C. Classified employees hired on or after July 1, 2002 but before July 1, 2011 shall be entitled to retire early under this program after having been employed by the District for at least fifteen (15) continuous years. Until the individual reaches sixty- sixty-five (65) years of age, the District will purchase for each retired employee up to the same single person health, dental, and vision insurance that is purchased for members of the bargaining unit as per this Article (12.17.1). D. Eligible X. Xxxxxxxx employees hired prior to July 1, 2001 will receive one hundred percent (100%) of cap. Employees hired on or after July 1, 2001 will receive the insurance payment in the following amounts: 30 years or more continuous service 100% of cap 25-29 years continuous service 90% of cap 20-25 years continuous service 80% of cap 15-20 years continuous service 75% of cap E. The District will pay for the eligible early retiree’s insurance until the employee turns sixty-five (65) years of age or becomes eligible for Medicare. F. Payout Option. In lieu of any future medical and dental insurance listed in this Article 18 the employee may select a yearly payout of fifty percent (50%) of the premium at the time of eligibility for the Districts’ Early Retirement benefit for up to the time limits of the applicable section or until the employee reaches sixty-five (65) years of age whichever is earlier. The employee is responsible for reviewing this option with the current health benefits carrier to determine rules, guidelines and regulations for current and future eligibility.

Early Retiree Insurance Allocation. For the 20242022-2025 2023 year, the monthly insurance cap for eligible retirees shall be one thousand one nine hundred ten dollars ($1,100.00910) per month. For the 20252023-2026 2024 year, the monthly insurance cap for eligible retirees shall be one thousand one nine hundred and ten dollars ($1,100.00910.00) per month. A. Eligible classified employees shall be entitled to retire early and receive the insurance benefit after they reach sixty (60) years of age and meet the requirements in this Article. B. Classified employees hired on or after July 1, 1997 and before July 1, 2002 shall be entitled to retire early under this program after having been employed by the District for at least twelve (12) continuous years. Until the individual reaches sixty- sixty-five (65) years of age, the District will purchase for each retired employee up to the same single person health, dental, and vision insurance that is purchased for members of the bargaining unit in an amount not to exceed the amounts specified in this Article (12.17.1). C. Classified employees hired on or after July 1, 2002 but before July 1, 2011 shall be entitled to retire early under this program after having been employed by the District for at least fifteen (15) continuous years. Until the individual reaches sixty- sixty-five (65) years of age, the District will purchase for each retired employee up to the same single person health, dental, and vision insurance that is purchased for members of the bargaining unit as per this Article (12.17.1). D. Eligible employees hired prior to July 1, 2001 will receive one hundred percent (100%) of cap. Employees hired on or after July 1, 2001 will receive the insurance payment in the following amounts: 30 years or more continuous service 100% of cap 25-29 years continuous service 90% of cap 20-25 years continuous service 80% of cap 15-20 years continuous service 75% of cap E. The District will pay for the eligible early retiree’s insurance until the employee turns sixty-five (65) years of age or becomes eligible for Medicare. F. Payout Option. In lieu of any future medical and dental insurance listed in this Article 18 the employee may select a yearly payout of fifty percent (50%) of the premium at the time of eligibility for the Districts’ Early Retirement benefit for up to the time limits of the applicable section or until the employee reaches sixty-five (65) years of age whichever is earlier. The employee is responsible for reviewing this option with the current health benefits carrier to determine rules, guidelines and regulations for current and future eligibility.