EARLY RETIREMENT COVERAGE Sample Clauses

EARLY RETIREMENT COVERAGE. Any teacher who has been employed as a teacher in the district for at least 10 years and is at least 55 years of age shall be eligible, subject to carrier’s policy, upon retirement, to be covered by the district's health plan up to the commencement of Medicare. Teachers retiring with health insurance shall receive from the district up to but not to exceed $7,800 towards health insurance each year. This payment shall be made in 12 monthly installments of $650 each and will continue monthly until the retiree is eligible for Medicare. If the premium exceeds the district benefit of $650 per month ($7,800 annually), the retiree will be responsible to submit payment for the difference by the 10th of each month to the district business office. In the year that a retired teacher reaches Medicare age the monthly premium for health insurance paid by RCW Schools will continue to the month of their birth date, at which time all district benefit for health insurance will be terminated. Teachers hired after July 1, 2011 will not be eligible upon retirement to receive from the district financial contributions toward health insurance as outlined above in this section (Section 8. Early Retirement Coverage).
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EARLY RETIREMENT COVERAGE. Plan E - The Company will provide coverage to all Full Time Employees who retire early at or after age sixty (60) and have not yet reached age sixty-five (65) and who are in receipt of the Company’s pension plan benefits. The coverage is as outlined in the Plan E Benefit Booklet. Plan G - The Company will provide coverage to all Full Time Employees who retire early at or after age fifty-five (55) and have not yet reached age sixty-five (65) and who are in receipt of the Company’s pension plan benefits. The coverage is as outlined in the Plan G Benefit Booklet. The Company will contribute the same portion towards the billed premiums of these benefits plans as is currently contributed by the Company to the billed premiums of active Employees. - The policy anniversary occurs on February 1st each year. - Employees working a minimum of thirty (30) hours per week are eligible for coverage. - Maximum age for dependent children: twenty-five (25) years. - For more complete details on benefit coverages, refer to the Employees Group Benefit Plan booklet. For explanation to the membership until the books are made: Plan E - Retirement from age 60-65 Changes from current benefit package are as follows: ▪ Life & AD&D $25,000 ▪ No Dependant Life ▪ Out of Province cap is 1,000,000 lifetime maximum and 30 day maximum for emergency treatment. ▪ Dental equivalent to active employees Plan G - Retirement from age 55-65 Changes from current benefit package are as follows: Covered only for: ▪ Life & AD&D $10,000 ▪ Drug Plan – 100% ▪ Hospital Services – 100% ▪ Vision Care Services – 100% Maximum $250 in a 24 month period. ▪ Dental - Basic
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Related to EARLY RETIREMENT COVERAGE

  • Early Retirement An employee entitled to twenty-five (25) or more days of annual vacation shall be entitled to defer up to five (5) days per year of vacation into an Early Retirement Bank. An employee entitled to thirty (30) or more days of annual vacation shall be entitled to defer up to ten (10) days per year of vacation into an Early Retirement Bank. Such deferred vacation may only be taken immediately prior to retirement. The Employer may, at its sole discretion, permit an employee to use such banked vacation under other circumstances.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Early Retirement Age The age set by the Employer in the Adoption Agreement, not less than age fifty-five (55), at which a Participant becomes fully vested and is eligible to retire and receive his or her benefits under the Plan.

  • Early Retirement Date Early Retirement Date shall mean a retirement from employment which is effective prior to the Normal Retirement Age stated herein, provided the Executive has attained age sixty (60) with thirty (30) years of service with the bank.

  • Early Retirement Benefit Upon Termination of Service prior to the Normal Retirement Age for reasons other than death, Change of Control or Disability, the Company shall pay to the Director the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • 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.

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

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