Common use of Health Care Savings Plan (HCSP Clause in Contracts

Health Care Savings Plan (HCSP. An employee who retires under the terms of this Agreement, and who has completed fifteen (15) years of service in the District and reached the age of 55, shall receive a one-time payment of $2,500 to the employee’s HCSP account. An employee who retires under the terms of this Agreement, and who has completed thirty (30) years of service in the District and reached the age of 55, shall receive a one-time payment of $5,000 to the employee’s HCSP account. To be eligible for payment, the employee must provide a written resignation at least ninety (90) work days prior to his/her intended retirement date.

Health Care Savings Plan (HCSP. An employee who retires under the terms of this Agreement, and who has completed fifteen (15) years of service in the District and reached the age of 55, shall receive a one-time payment of $2,500 to the employee’s HCSP account. An employee who retires under the terms of this Agreement, and who has completed thirty (30) years of service in the District and reached the age of 55, shall receive a one-time payment of $5,000 to the employee’s HCSP account. To be eligible for payment, the employee must provide a written resignation at least ninety (90) work days prior to his/her intended retirement date.

Health Care Savings Plan (HCSP. An employee hired after July 1, 2020 is not eligible for this section. An employee who retires under the terms of this Agreement, and who has completed fifteen (15) years of service in the District and reached the age of 55, shall receive a one-time payment of $2,500 to the employee’s HCSP account. An employee who retires under the terms of this Agreement, and who has completed thirty (30) years of service in the District and reached the age of 55, shall receive a one-time payment of $5,000 to the employee’s HCSP account. To be eligible for payment, the employee must provide a written resignation at least ninety (90) work calendar days prior to his/her intended retirement date.