Health Insurance At Time of Retirement Sample Clauses

Health Insurance At Time of Retirement. 1. As a further provision of this plan, the District shall continue the District’s health insurance plan for employees who retire on superannuation, provided they have served the school district for a period of not less than ten years and are at least 55 years old. For retirement purposes only, part-time service will count as one half year of credit.
Sample 1
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Health Insurance At Time of Retirement. As a further provision of this plan, medical and dental benefits will be provided for full-time employees that retire on superannuation. Unit members who have 10 years of service with the District and who are retiring under the New York State Employees Retirement System can receive benefits. At the time of such a retirement, the employee will continue to pay his/her share of the premium. Part-time personnel employed to work a minimum of twenty but not more than thirty hours per week for twenty years shall also be included under the provisions of this policy. Health insurance carried for retired employees shall continue family as well as individual coverage, but individual coverage may not be changed to cover a family after retirement. Unit members who are enrolled in a district health care plan, including dental, may discontinue their coverage with the understanding that they may re-enroll at any time. It is understood that the unit members that re- enroll after retirement may do so in the same plan and at the same level of employee contribution in effect at the time of discontinuance. It is also understood that unit members who re-enroll while still in active service in the Brighton Schools may do so in any plan at the employee contribution level in effect for their comparable group at the time of re- enrollment. Major Medical coverage for employees retiring after June 30, 1983, will continue at the same benefit level (unlimited maximum) through age 64. Starting in 1988-89 the major medical benefits will increase from $50,000 lifetime to $500,000 lifetime for those retirees over the age of 65. At the time of retirement, eligible employees will continue to pay his/her share of the health and dental premium cost. In the event that two spouses are both members of a bargaining unit represented by the BAEOP and both spouses are receiving family coverage under the group health insurance plan provided by the District pursuant to enrollment in the plan by one of the spouses, and in the further event that both spouses retire and the spouse who was enrolled in the group plan predeceases his or her spouse then the District will ensure that the surviving spouse receives continued health insurance coverage.
Sample 1

Related to Health Insurance At Time of Retirement

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

  • 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:

  • 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 Insurance Benefits To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, Executive will be eligible to continue Executive’s group health insurance benefits at Executive’s own expense. If Executive timely elects continued coverage under COBRA, the Company shall pay Executive’s COBRA premiums, and any applicable Company COBRA premiums, necessary to continue Executive’s then-current coverage for a period of 18 months after the date of Executive’s termination of employment; provided, however, that any such payments will cease if Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such premiums. Executive agrees to immediately notify the Company in writing of any such enrollment. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot provide the foregoing benefit without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to Executive a taxable monthly amount to continue his group health insurance coverage in effect on the date of separation from service (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made regardless of whether Executive elects COBRA continuation coverage and shall commence in the month following the month in which Executive incurs a separation from service and shall end on the earlier of (x) the date on which Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such amounts and (y) 18 months after the date of Executive’s separation from service.

  • Health Insurance Coverage (a) An employee who is laid off or separated from employment on or after July 1, 1994, under circumstances which entitle such employee to reemployment rights under this Article, other than pursuant to Section 23, may elect to continue membership in their health benefit plan, upon advance payment of the regular percentage contribution to the cost of the plan, during the first six

  • 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.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Health insurance premiums If you are unemployed and have received unemployment compensation for 12 consecutive weeks under a federal or state program, you may take payments from your IRA to pay for health insurance premiums without incurring the 10 percent early distribution penalty tax. 6)

  • 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.

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