Hospitalization for Retirees Sample Clauses

Hospitalization for Retirees. For employees hired prior to January 1, 2014, if the employee has ten (10) years or more service with the County and retires at age sixty (60) or if an employee has fifteen (15) or more years of service with the county and retires at age fifty-five (55), the County will pay its percentage of hospitalization coverage for the employee and covered spouse from such retirement date to age sixty-five (65) and its percentage of the Medicare/Medicaid supplement for the employee and covered spouse from age sixty-five (65) to age seventy (70).
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Hospitalization for Retirees. Only applies to eligible employees hired before July 1, 2005. i.) If a retiree obtains employment elsewhere, said retiree will have the option of obtaining hospitalization with the subsequent employer or retaining the coverage as enumerated above. In no event will the employee be allowed to retain two or more separate hospitalization plans. In the event the retiree obtains, at his option, hospitalization insurance elsewhere, there shall be no liability with the City. Upon termination of subsequent employment, the retiree, after giving notice to the City, will resume with the City, retiree hospitalization insurance otherwise provided for in this article. ii.) Should the spouse or retiree be employed elsewhere and health insurance is provided to the spouse or retiree, equal to or greater than that provided to the retiree, the City will have no liability for hospitalization insurance. In the event the spouse or retiree terminates employment, the City after notice, will resume hospitalization coverage enumerated above at the time of retirement. Upon death of the retiree, the City’s obligation shall cease with regard to the above provisions. The following benefit, which does not cover past retirees, applies to all current employees hired on or before the ratification date of the July 1, 1997 to June 30, 2002 Collective Bargaining Agreement. In the event of the death of a retiree who retired on or after the ratification date, the City will provide single coverage hospitalization insurance for the surviving spouse. Coverage is limited to that person married to the employee as of the date of retirement. City-paid coverage shall be limited to the least expensive City plan (e.g. HMO) available as of the death of the retiree. Coverage shall cease upon the spouse’s death or if the spouse remarries or if the surviving spouse becomes eligible for hospitalization insurance from any other source whatsoever. Continuation of the spousal coverage is contingent upon periodic eligibility verification by the City. For employees hired on or after July 1, 2005, retiree health benefits shall be provided by the Municipal EmployeesRetirement System of Michigan (MERS) Health Care Savings Program adopted by City Council Resolution on May 22, 2006, or other similar program as defined by the City. Retiree health care coverage, as outlined in Sections 2(A) and 2(B) above, shall be eliminated for all employees hire from outside the City’s workforce on or after July 1, 2005. For full tim...
Hospitalization for Retirees. If the employee has ten (10) years or more service with the County and retires at age sixty (60) or if an employee has fifteen (15) or more years of service with the county and retires at age fifty-five (55), the County will pay its percentage of hospitalization coverage for the employee and covered spouse from such retirement date to age sixty-five (65) and its percentage of the Medicare/Medicaid supplement for the employee and covered spouse from age sixty-five (65) to age seventy (70). Employees retiring after January 1, 2007 shall retire with the insurance plan in place and their co-pay under this section and under the cap provisions in Section 12.0 at the time of their retirement. However, should a retired employee have the availability and provided hospitalization plan by a subsequent employer, or if such retired employee shall have the availability and provided hospitalization plan by his or her spouse's employer, this coverage shall not be effective. The retired employee shall sign a certification form, provided by the County, every six (6) months regarding the availability of another health plan. Years of Seniority Co-Pay
Hospitalization for Retirees. Effective for employees hired before May 1, 2011 - An employee who retires at the ages provided in the present Xxxxx County Retirement Plan (age 60 to 65 and vesting in ten (10) years) and his/her present spouse will be continued under the same hospitalization provisions as any working member under the same hospital insurance provisions as outlined in Section 1 of this Article, up to age sixty-five (65). Effective for employees hired after May 1, 2011 – An employee who retire and is receiving retirement benefits after reaching age 55 shall be eligible to retain their health care coverage from the Employer until age 65 with the Employer paying a monthly contribution as follows: Employee’s Years of Service Employer Monthly Contribution 20+ years $200 per month It is further agreed and understood that upon an employee reaching the age of 65, or any retired member having reached the age of 65, or upon the death of an employee, or a retired member, the full health insurance coverage outlined in Section 1 and 2 of the Article is canceled; provided, however, that in the event of the death of an employee, either before or after retirement (ages 60 to 65) the surviving spouse or any minor child, shall have the option of maintaining said insurance in accordance with the federal law commonly known as "COBRA." This benefit is granted for the express purpose of aiding retirees not working in excess of 1,039 hours per a rolling twelve (12) months period who have not reached their sixty-fifth (65th) birthday and therefore are not eligible for Medicare coverage. Statements attesting that a retiree has not worked more than 1,039 hours in the preceding twelve (12) months’ period will be required every three (3) months to assure the Employer that the employee is eligible for this benefit. The working restriction shall not apply to retired employees who have reached their sixty-fifth (65th) birthday. Retirees who work in excess of 1,039 hours in a twelve (12) month period shall be required to exercise one of the following options: a) They may remain under the Employer's Self-Funded Health Insurance Plan group coverage provided, however, that they reimburse to the Employer on a monthly basis a sum equal to the premium payment of their Employer's Self-Funded coverage. b) Retirees may completely and totally withdraw from the Employer's Self- Funded group coverage. It should be noted that in the event a retiree withdraws from the Employer's Self-Funded group, said retirees will n...
Hospitalization for Retirees. The employer agrees to pay one hundred percent (100%) of the health insurance premium for the employee retiree and fifty percent (50%) of the premium for dependent coverage.

Related to Hospitalization for Retirees

  • 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.

  • Death, Retirement or Disability Executive’s employment shall terminate automatically upon Executive’s death or Retirement during the Employment Period. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or if there is no such retirement plan, “Retirement” shall mean voluntary termination after age 65 with ten years of service. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability” shall mean a mental or physical disability as determined by the Board of Directors of the Company in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, “Disability” shall mean the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental condition which has lasted (or can reasonably be expected to last) for twelve workweeks in any twelve-month period. At the request of Executive or his personal representative, the Board’s determination that the Disability of Executive has occurred shall be certified by two physicians mutually agreed upon by Executive, or his personal representative, and the Company. Failing such independent certification (if so requested by Executive), Executive’s termination shall be deemed a termination by the Company without Cause and not a termination by reason of his Disability.

  • Pre-Retirement Death Benefit (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • Retirement, Death or Disability If the Executive’s employment terminates during the Term of this Agreement due to his death, a disability that results in his collection of any long-term disability benefits, or retirement at or after age 62, the Executive (or the beneficiaries of his estate) shall be entitled to receive the compensation and benefits that the Executive would otherwise have become entitled to receive pursuant to subsection (d) hereof upon a resignation without Good Reason.

  • Probation for Newly Hired Employees (a) The Employer may reject a probationary employee for just cause. A rejection during probation shall not be considered a dismissal for the purpose of Article 11.2

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Public Employees Retirement System “PERS”) Members.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.05(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long-term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or via the Government Employees Compensation Act prevents the employee from receiving Employment Insurance or Québec Parental Insurance Plan benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.05(a), other than those specified in sections (A) and (B) of subparagraph 17.05(a)(iii), shall be paid, in respect of each week of benefits under the parental allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of the employee's rate of pay and the gross amount of his or her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.05 for a combined period of no more than the number of weeks during which the employee would have been eligible for parental, paternity or adoption benefits under the Employment Insurance or Québec Parental Insurance Plan, had the employee not been disqualified from Employment Insurance or Québec Parental Insurance Plan benefits for the reasons described in subparagraph (a)(i).

  • Termination of Employment Due to Death or Disability If your employment with the Company terminates due to death or Disability, in each case, prior to the Vesting Date, your Adjusted PSUs will vest and convert into Shares on the Adjustment Date (even though you are not employed by the Company on the Vesting Date). Upon a termination of employment due to death, the Adjusted PSUs shall be delivered in accordance with Section 10.

  • Termination of Employment Due to Death The Officer’s employment with the Bank shall terminate, automatically and without any further action on the part of any party to this Agreement, on the date of the Officer’s death. In such event, the Bank shall pay and deliver to his estate and surviving dependents and beneficiaries, as applicable, the Standard Termination Entitlements.

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