Common use of Early Retirement Incentive Program Clause in Contracts

Early Retirement Incentive Program. The employer agrees to fully pay medical benefits for unit members, who retire, for a period of no more than five (5) years, or to the age of sixty-five (65) years, whichever comes first, subject to the following conditions: 1. The District's contribution shall not exceed the contribution the District was making at the time the employee retired. 2. The employee has been a regular classified employee for a period of not less than ten (10) years. 3. The employee must have reached the age between fifty-five (55) and sixty (60) prior to the beginning of the next work year. 4. The employee will not become eligible for other medical insurance. 5. Payments of medical benefits for the retiree and his/her spouse will terminate five years after the employee retires or when the unit member reaches the age of sixty-five (65) years or in event of death would have reached the age of sixty-five (65). 6. Medical benefits under this section shall be for the employee and spouse.

Early Retirement Incentive Program. 11.1 The employer agrees to fully pay medical benefits for unit members, who retire, for a period of no more than five (5) years, is Medical/Medicare eligible, or to the age of sixty-five (65) years, whichever comes first, subject to the following conditions: 1. 11.1.1 The District's contribution shall not exceed the contribution the District was making at the time the employee retired. 2. 11.1.2 The employee has been a regular classified employee for a period of not less than ten (10) years. 3. 11.1.3 The employee must have reached the age between fifty-five (55) and sixty (60) prior to the beginning of the next work year. 4. The employee will not become eligible for other medical insurance. 5. 11.1.4 Payments of medical benefits for the retiree and his/her spouse will terminate five years after the employee retires or when the unit member reaches the age of sixty-five (65) years or in event of death would have reached the age of sixty-five (65). 6. 11.1.5 Medical benefits under this section shall be for the employee and spouse.