Extension of Health/Hospitalization Insurance for Retirees Sample Clauses

Extension of Health/Hospitalization Insurance for Retirees. Any employee who is a participant in the School District’s health and hospitalization insurance plan as described in Article 10, Section 1 and who retires following fifteen (15) years of employment in the School District and is 55 years of age or older, may extend their insurance coverage by converting 1/3 of the cash value of their unused sick days, up to 130 days, at the time of retirement and applying it towards the employee portion of insurance premium until the cash value is exhausted. The School District shall deposit the total amount in the employee’s name in the Post-Retirement Health Care Savings Plan, administered by the Minnesota State Retirement System.
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Extension of Health/Hospitalization Insurance for Retirees. Any employee who is a participant in the School District’s health and hospitalization insurance plan as described in Article X, Section 1, and who retires following fifteen (15) years of employment in the School District and 55 years of age or older may extend his/her insurance coverage by converting one-third (1/3) of the cash value of his/her unused sick hours, up to a maximum of 1,040 hours, at the time of retirement (based on the employee’s hour rate of pay at the time of retirement) and applying it towards the insurance premiums until the cash value is exhausted. The School District shall deposit the total amount of the cash in the employee’s name in the Post-Retirement Health Care Savings Plan administered by the Minnesota State Retirement System. .
Sample 1

Related to Extension of Health/Hospitalization Insurance for Retirees

  • Health and Hospitalization Insurance Single Coverage: The School District shall contribute a sum not to exceed $284.00 per month toward the premium for individual coverage for each full-time employee employed by the School District who qualifies for and is enrolled in single coverage in the School District’s group health and hospitalization insurance plan. Any additional cost of the premium shall be borne by the employee and paid by payroll deduction.

  • Hospitalization Insurance The Employer shall provide: HOSPITALIZATION INSURANCE Effective as soon as is practical after September 1, 2011 or date of ratification, whichever is sooner. Community Blue PPO 4$2/25/50 Prescription Drug Rider Dental Plan 2 $ Mandatory Mail-Order for Maintenance Drugs $ On Mail-Order- Pay for 2 month supply, get 3 month supply $ Mandatory Generic Drugs$ $10 Office and Chiropractic Visit Employees Contribute $10 per Pay Period for spousal coverage. Effective the first pay period after 9/1/2011 or as soon as is practicable employees hired before 9/1/11 shall pay 5% of the illustrated rate for the health and dental coverage they select. Effective 1/1/2012 employees hired before 9/1/11 shall pay 10% of the illustrated rate for the health and dental coverage they select. Effective the first pay period after 9/1/2011 or as soon as is practicable, for employees hired on or after 9/1/11, employees shall contribute 20% of the illustrated rate for the coverage the employee selects.

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

  • 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.

  • DISABILITY INSURANCE PLAN Management shall expend for active employees of this unit who are members of LACERS the sum necessary to cover the cost of a basic disability insurance plan. Management shall also maintain a Supplemental Disability Insurance Plan, enrollment in which is at the discretion of each employee. The full cost of the Supplemental Disability Insurance Plan premiums shall be paid by the individual employees who enroll in the plan. The City's Joint Labor-Management Benefits Committee shall determine the benefits and provider of the plan

  • STATE DISABILITY INSURANCE (SDI) A. All employees covered by this Contract will be covered under the State Disability Insurance (SDI) benefit in lieu of a Non-Industrial Disability Insurance (NDI) and Enhanced Non-Industrial Disability Insurance (ENDI) benefit as follows:

  • 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:

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