Eligibility for Health Insurance at Retirement Sample Clauses

Eligibility for Health Insurance at Retirement. 1. In order for the Business Administrator to be eligible for health insurance at the time of retirement, she must have fifteen (15) years of service with the Newfield Central School District, and be employed by the District at the time of retirement.
Sample 1
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Eligibility for Health Insurance at Retirement. For unit members eligible to retire under the rules of the New York State Retirement System and with 15 or more years of service with the Clymer Central School, the district will pay 80% of the premium for a single person and 60% of the premium for a 2 person PPO or other similar managed care option, for 10 years (ending June 30th of the 10th year). Furthermore, up to 200 days of accumulated sick leave may be used to purchase another policy available from our provider, purchase insurance beyond the 10 year period, pay the employee’s portion of the benefit during the 10 years of district contribution or be paid out to the employee in annual amounts not to exceed $6000 until the monies are exhausted. Furthermore, up to 200 days of the employee’s accumulated sick leave shall be used by the District to calculate the employee’s sick day benefit. This provision will constitute a “non-elective distribution” and the said dollar value will be paid by the District to either (a) each retiring employee’s 403B account or (b) an account maintained by the District for use in paying health insurance premiums through its group plan applicable to members of the negotiating unit, subject to the applicable rule of the District’s health insurance carrier. The calculation used to determine the sick day benefit amount is the employee’s final average salary (FAS) as determined by the NYS Retirement System (less any Tier 1 sick day additions) multiplied by .3. The dollar value of unused accumulated sick leave shall be calculated by multiplying the employee’s daily rate for any consecutive three year period selected by the employee by three-tenths (.3) of the number of unused accumulated sick leave.
Sample 1

Related to Eligibility for Health Insurance at Retirement

  • INSURANCE AND RETIREMENT Each teacher shall be entitled to fringe benefits provided by this agreement and by federal regulations provided by Cobra (Consolidated Omnibus Budget Reconciliation Act of 1985). These shall include but not be limited to the following:

  • Retirement Health Insurance Subd. 1. Benefit Eligibility for Employees who Retire Before Age 65

  • Retiree Health Insurance Retired members of the Department receiving, or to receive City of Lincoln monthly pension checks, may participate in the group comprehensive health care plan for active City employees, provided that each retiree so desiring will execute the required forms in a timely fashion, and further provided that each retiree will be required to pay the full monthly cost at the current rates subject to any rate increases which may occur from time to time. Such payment will be made by payroll deduction from pension checks, or by direct payment in the case of an early retiree.

  • Health Benefits Eligibility a. The State System shall provide an eligible permanent full-time active employee with health benefits. The State System shall provide permanent part-time employees who are expected to be in an active pay status at least fifty (50%) of the time every pay period with health benefits.

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who:

  • Post Retirement Health Care Benefit Employees who separate from State service and who, at the time of separation are insurance eligible and entitled to immediately receive an annuity under a State retirement program, shall be entitled to a contribution of two hundred fifty dollars ($250) to the Minnesota State Retirement System’s (MSRS) Health Care Savings Plan. Employees who have a HCSP waiver on file shall receive a two hundred fifty dollars ($250) cash payment. If the employee separates due to death, the two hundred fifty dollars ($250) is paid in cash, not to the HCSP. An employee who becomes totally and permanently disabled on or after January 1, 2008, who receives a State disability benefit, and is eligible for a deferred annuity under a State retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. Employees are eligible for this benefit only once.

  • Retiree Health Benefits 1. There is currently in effect a retiree health benefit program for retired members of LACERS under LAAC Division 4, Chapter 11. All covered employees who are members of LACERS, regardless of retirement tier, shall contribute to LACERS four percent (4%) of their pre-tax compensation earnable toward vested retiree health benefits as provided by this program. The retiree health benefit available under this program is a vested benefit for all covered employees who make this contribution, including employees enrolled in LACERS Tier 3.

  • Long Term Disability Insurance Plan The Employer shall provide a mutually acceptable long-term disability insurance plan, a copy of which shall appear in Appendix “A” – Long-Term Disability Insurance Plan. The plan shall provide post-probationary regular employees with salary continuation as per Appendix “A” until age sixty-five (65) in the event of a disability. The cost of the plan shall be borne by the Employer.

  • Workplace Safety Insurance Benefits (WSIB) Top Up Benefits If the employee is in a class of employees that, on August 31, 2012, was entitled to use unused sick leave credits for the purpose of topping up benefits received under the Workplace Safety and Insurance Act, 1997;

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

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