Common use of INSURANCE AND ANNUITY PLAN Clause in Contracts

INSURANCE AND ANNUITY PLAN. A. In the event of any change in Town policy, the COMMITTEE will request the Selectmen to pay the maximum premium permitted by the Town policy of the cost of the following types of insurance coverage: 1. A life insurance plan of the type presently available to supervisors. 2. Individual or family coverage, whichever applies in the particular case, for the current Town approved health plan presently available to supervisors. S Effective September 1, 2012 the premium split for individual plans will change from 79% Employer and 21% Employee to 75% employer and 25% Employee; the premium split for the family plan will change from 77% employer and 23% Employee to 75% Employer and 25% Employee and from 73% Employer and 27% Employee to 75% employer and 25% Employee. B. In the event a supervisor is on leave of absence in accordance with Article VIII, Sections G and H for health reasons or leave of absence under Article X, the insurance benefits provided above shall continue for the duration of that leave, payments to be apportioned according to State statute. 1. Payments of insurance premiums shall be made on the policies provided for in paragraph A above to provide insurance coverage for the full 12 month period commencing September 1 and ending August 31. C. Supervisors will be eligible to participate in a "Tax Sheltered Annuity Plan" established pursuant to United States Public Law, No. 87-370 and pursuant to General Laws, Chapter 71-37B.

INSURANCE AND ANNUITY PLAN. A. In the event of any change in Town policy, the COMMITTEE will request the Selectmen to pay the maximum premium permitted by the Town policy of the cost of the following types of insurance coverage: 1. A life insurance plan of the type presently available to supervisorsteachers. 2. Individual or family coverage, whichever applies in the particular case, for the current Town approved health plan of the type presently available to supervisorsteachers. S Effective September 1, 2012 the premium split for individual plans will change from 79% Employer and 21% Employee to 75% employer and 25% Employee; the premium split for the family plan will change from 77% employer and 23% Employee to 75% Employer and 25% Employee and from 73% Employer and 27% Employee to 75% employer and 25% Employee. B. In the event a supervisor teacher is on leave of absence in accordance with Article VIIIXI, Sections G and H for health reasons or leave of absence under Article X, the insurance benefits provided above shall continue for the duration of that leave, payments to be apportioned according to State statute. 1. Payments of insurance premiums shall be made on the policies provided for in paragraph A above to provide insurance coverage for the full 12 month period commencing September 1 and ending August 31. C. Supervisors Teachers will be eligible to participate in a "Tax Sheltered Annuity Plan" established pursuant to United States Public Law, No. 87-370 and pursuant to General Laws, Chapter 71-37B.

INSURANCE AND ANNUITY PLAN. A. In the event of any change in Town policy, the COMMITTEE will request the Selectmen to pay the maximum premium permitted by the Town policy of the cost of the following types of insurance coverage: 1. A life insurance plan of the type presently available to supervisorsteachers. 2. Individual or family coverage, whichever applies in the particular case, for Blue Cross and Blue Shield (or the current Town approved health plan equivalent coverage) of the type presently available to supervisorsteachers. S Effective September 1, 2012 the premium split for individual plans will change from 79% Employer and 21% Employee to 75% employer and 25% Employee; the premium split for the family plan will change from 77% employer and 23% Employee to 75% Employer and 25% Employee and from 73% Employer and 27% Employee to 75% employer and 25% Employee. B. In the event a supervisor teacher is on leave of absence in accordance with Article VIIIXI, Sections G and H for health reasons or leave of absence under Article X, the insurance benefits provided above shall continue for the duration of that leave, payments to be apportioned according to State statute. 1. Payments of insurance premiums shall be made on the policies provided for in paragraph A above to provide insurance coverage for the full 12 month period commencing September 1 and ending August 31. C. Supervisors Teachers will be eligible to participate in a "Tax Sheltered Annuity Plan" established pursuant to United States Public Law, No. 87-370 and pursuant to General Laws, Chapter 71-37B.