Insurance After Retirement. With the express written consent of the insurance carrier(s), employees who have retired may continue to participate in the Board's group insurance program at their own expense, provided all premiums shall be transmitted to the Business Office of the Board in advance. The Board shall not be obligated hereunder to advance premiums for any retired employee in order to continue coverage upon the failure of any person to make timely payment. All Board obligations, employee eligibility and all aspects of this clause shall end when an ex- employee becomes eligible for Medicare.
Insurance After Retirement. The Board will reimburse the retired teacher for post-retirement health insurance premiums paid by the retiree to a maximum of $500 per year until the retiree reaches age 65 or becomes eligible for Medicare, whichever shall first occur.
Insurance After Retirement. Employees with eight (8) years of service to the district, shall be eligible to remain a member of the district insurance program after retirement. The employee must assume the cost for any coverage retained at the time of retirement. Payment must be paid by the first of each month. Employees who become eligible for Medicare shall only be eligible for supplemental Medicare if it is available through the district plan.
Insurance After Retirement. For TRS Eligible Licensed Professionals with twenty (20) or more years of service with the District and who submit proof of payment shall receive reimbursement from the Board toward the cost of one (1) employee retiree health insurance premium up to a maximum of $150 per month. Dependent coverage shall be at the retiree's expense. The retiring TRS Eligible Licensed Professional member must be at least fifty-five (55) years of age at the time of retirement, or fall under the guidelines of a state-sponsored retirement initiative, and upon reaching age sixty-five (65), the employee will no longer be entitled to the benefit set forth above. Those TRS Eligible Licensed Professional members who are currently receiving or who were entitled to benefits afforded in this Article through previous contractual agreement will continue to receive those benefits as stated in the negotiated agreements under which they retired. The insurance incentive must not give rise to any early retirement penalty to be paid by the Board of Education.
Insurance After Retirement. Employees who retire from active service may continue group life insurance of $7,500. Concord Electric Company pays insurance premium cost.
Insurance After Retirement. 1. The District agrees to participate in a Post-Employment Health Plan (“PEHP”) pursuant to the terms and conditions of the PEHP for Collective Bargaining Public Employees attached hereto as Exhibit 1. The District agrees to contribute to the PEHP on behalf of the following category of employees as follows:
a. Each employee who has completed at least five (5) years of service as of the date of this Agreement’s ratification will thereafter receive a one thousand five hundred ($1,500.00) contribution by the District to the PEHP on or around November 10 each year. Retroactivity will not be granted.
b. Any employee who has not completed five (5) years of service as of the date of ratification will receive the $1,500.00 contribution to the PEHP once he/she has completed five (5) years of service. The initial contribution shall be received on or around the first November 10th following the five (5) year anniversary, and thereafter on or around November 10th each year.
c. For employees participating in the PEHP who have completed twenty
Insurance After Retirement. Employees who retire from active service will continue Group Life Insurance of $7,500. Fitchburg Gas And Electric Light Company pays for the retiree's group life insurance.
Insurance After Retirement. An employee qualifying under Article 11, Section 1, may remain in the district’s health insurance plan at his/her own expense.
Insurance After Retirement. Upon eligible retirement, employee may buy into the District's group health insurance plan. The District shall provide Medical Health Insurance Credit according to table below until the Retired employee reaches the age of 65:
Insurance After Retirement. Upon eligible retirement, employee may buy into the District's group health insurance plan. The District shall provide Medical Health Insurance Credit according to table below until the Retired employee reaches the age of 65: Employee Years of Service District Health Insurance Credit for Retired Employee Monthly Premium 15 $400 20 $500 25 $600 Example Employee that has completed twenty-five (25) years selects Employee Only during enrollment, the monthly premium equals $648.00. Employee has $600 Medical Health Insurance Credit, employee is responsible for $48.00 monthly premium. Using the same example but the selection during enrollment is Employee and Spouse, the monthly premium equals $1,200. Employee has $600 Medical Health Insurance Credit, employee is responsible for $600 monthly premium.
