Common use of FRINGE BENEFITS FOR RETIRED EMPLOYEES Clause in Contracts

FRINGE BENEFITS FOR RETIRED EMPLOYEES. Full-time retirees will receive the benefits package available to full-time Unit Members retiring after June 30, 1980, who have served the District full-time for ten (10) or more consecutive years immediately prior to their retirement. Benefits will be provided until age sixty-five (65), or earlier if the full-time Unit Member accepts Medicare benefits. Full-time retirees will receive the same benefit package as that provided to active full-time employees in the year in which they retire. Full-time Members who have served the District full-time for ten (10) or more consecutive years immediately prior to their retirement, and who retire after December 31, 2003, may continue on the health benefit plans they have upon retirement until age 65 (or earlier if receiving Medicare benefits). They will pay 100% of all increases in the costs of their health benefits. In addition, those on a higher cost PPO will pay 100% of the difference between the highest cost fully-funded plan and higher cost PPO. The difference will be between the same like plans.

FRINGE BENEFITS FOR RETIRED EMPLOYEES. Full-time retirees Retirees will receive the benefits package available to full-time Unit Members retiring after June 30, 1980, who have served the District full-time for ten (10) or more consecutive years immediately prior to their retirement. Benefits will be provided until age sixty-five (65), or earlier if the full-time Unit Member accepts Medicare benefits. Full-time retirees Retirees will receive the same benefit package as that provided to active full-time employees in the year in which they retire. Full-time Members who have served the District full-time for ten (10) or more consecutive years immediately prior to their retirement, and who retire after December 31, 2003, may continue on the health benefit plans they have upon retirement until age 65 (or earlier if receiving Medicare benefits). They will pay 100% of all increases in the costs of their health benefits. In addition, those on a higher cost PPO will pay 100% of the difference between the highest cost fully-funded plan and higher cost PPO. The difference will be between the same like plans.