Insurance at Retirement Sample Clauses

Insurance at Retirement. A. See current IMRF Health Insurance Rules and Regulations for retirees,currently found in sections 367h and 367j of the Illinois Insurance Code (see attached Appendix I). The Board will follow any legal mandates for retiree insurance in regards to IMRF employees.
Sample 1
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Insurance at Retirement. The District contribution toward the applicable health insurance premium shall be as follows, based on length of service in the Haldane Central School District: For employees hired on or before June 30, 2011: 10 years – 50% of premium 11 years – 50% of premium 12 years – 50 % of premium 13 years – 50% of premium 14 years – 50% of premium 15 years – 95% of premium 20 years – 100% of premium For employees hired on or after July 1, 2011, the District contribution toward the applicable health insurance premium shall be as follows, based on length of service in the Haldane Central School District: 15-19 years 20-29 years 30 or more years 75% of premium 85% of premium 90% of premium Notwithstanding the above, in order to be eligible for retiree health insurance, an otherwise eligible employee hired on or after July 1, 1989 through June 30, 2011 must contribute 20% of the difference in premium between the cost of individual and dependent coverage for a period of five years. Employees hired on or after July 1, 2011 must contribute 10% of their individual or family premiums for a period of five years. Employees hired on or after July 1, 2016 must contribute 12.5% of their individual or family premiums for a period of five years.
Sample 1

Related to Insurance at Retirement

  • 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:

  • Life Insurance Upon Retirement An employee who retires from the service with a Company pension at or after age 65 will be provided a $7,000.00 death benefit. If retirement on pension is earlier than age 65 and an employee's term life insurance is extended to age 65, the death benefit will be provided at age 65.

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Long Term Disability Insurance Plan The Employer shall provide a mutually acceptable long-term disability insurance plan, a copy of which shall appear in Appendix “A” – Long-Term Disability Insurance Plan. The plan shall provide post-probationary regular employees with salary continuation as per Appendix “A” until age sixty-five (65) in the event of a disability. The cost of the plan shall be borne by the Employer.

  • Life Insurance Coverage a. Fifteen Thousand ($15,000) Dollars life insurance policy with AD&D from an insurance carrier selected by the Board, subject to the provisions of this section. Such insurance shall pay double in the case of accidental death or dismemberment.

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