HRA Contributions Sample Clauses

HRA Contributions. Retirees from District service may be eligible to receive post- employment contributions to their retiree HRA accounts. The amount of any such contribution will be determined based on the retiree’s date of hire, date of retirement and length of service, as follows: (i) Employees Hired before May 10, 2012: Employees who were hired before May 10, 2012 and who retire from the District (either a disability retirement or a service retirement) after completing at least ten (10) years of service are eligible to receive a monthly District contribution to their retiree HRA in an amount equal to the cost of the employee only premium for the PERS Choice Plan Region 1, as determined on the date of the employee’s retirement, minus any minimum contribution paid directly to CalPERS, as a monthly contribution to the Retiree’s HRA Account. (ii) Employees Hired on or after May 10, 2012: Employees who were hired on or after May 10, 2012 and who retire from the District after completing at least ten (10) years of service (either a disability or service retirement) are eligible to receive a monthly District contribution to their HRA in an amount equal to 25% of the cost of the employee only medical premium for the PERS Choice Region 1 rate, as determined on the date of the employee’s retirement, minus the minimum contribution paid directly to CalPERS, as a monthly contribution to the retiree’s HRA. Eligible employees shall receive an additional 2.5% of the employee only medical premium for each year of service in excess of ten years, up to a maximum of twenty years, resulting in a maximum formula calculation equal to 50% of the cost of the employee only medical premium for the PERS Choice Region 1 rate, as determined on the date of the employee’s retirement, minus the minimum contribution paid directly to CalPERS. (iii) Employees Hired on or after January 1, 2022: Employees hired on or after January 1, 2022 are not eligible to receive a post-employment District contribution to a retiree HRA account.

HRA Contributions. Retirees who meet the requirements above will receive contributions to a Xxxxxxxxx HealthInvest HRA (health reimbursement arrangement). a. Non-Medicare retirees will receive $15,000 annually ($7,500 twice per year) for five years. b. Medicare-eligible retirees (those who are at least age 65 at the time of retirement) will receive $5,000 annually ($2,500 twice per year) for five years. i. For retirees who become Medicare eligible during the five-year period, the annual HRA contribution amount will be adjusted from $15,000 to $5,000 in the next calendar year. c. Eligibility for this retirement incentive shall continue for five years from the date of retirement. i. Five years shall be defined as through December 2025. d. The HRA contributions will be applied semi-annually beginning January 1, 2021. For all retirees who remain with a district-operated plan, the HRA contributions are in addition to the retiree medical fund benefit amount that an employee may be eligible for as identified in the Parties’ Collective Bargaining Agreement.

HRA Contributions. Post-65 retirees enrolling in Xxxxxx Senior Advantage, CalPERS Gold Medicare Plan or CalPERS Platinum Medicare Plan will receive annual health reimbursement account contributions in the following amounts: • Xxxxxx Senior Advantage: $550 • Gold Medicare Plan: $400 • Platinum Medicare Plan: $400