Insurance Benefits for Retirees Sample Clauses

Insurance Benefits for Retirees. Unless otherwise specified, effective upon the execution of this Contract, or as soon thereafter as possible, the City shall provide and pay for the insurance for all retirees covered by this Contract in accordance with the following schedule: a. The City shall provide and pay for the entire cost of a ten thousand ($10,000.00) dollar paid-up Life Insurance policy for employees who retire after ten (10) years of service with the City. b. For employees retiring who were hired before 7/1/2013, the City agrees to pay one hundred (100%) percent of medical insurance premiums, including all riders provided for bargaining unit employees. In addition, the City agrees to pay fifty (50%) percent of medical insurance premiums, including all riders provided for the spouses of bargaining unit employees. The retiree will be required to pay, in advance, the remaining fifty (50%) percent of the cost of said spouse’s coverage. The City will continue to pay such premiums until the retiree and spouse become eligible for Medicare. The City will not pay the cost of such coverage for any employee retiring on a disability or deferred pension. c. For employees retiring who were hired by the City on or after 7/1/2013 are not eligible for retiree medical/dental insurance through the City of Norwich and the City will not pay for the cost of any insurance. d. For employees retiring who were hired before December 31, 2007, the City agrees to pay fifty (50%) percent of the cost of Major Medical benefits under a Supplemental Major Medical Expense Plan, individual coverage only, for those who have reached Medicare eligibility. The retiree will be required to pay, in advance, the remaining fifty (50%) percent of the cost of said coverage. The retiree shall have the option to purchase, at his/her expense, coverage for dependents through the City’s insurance policies (at group rates) providing the benefits are available through the City’s insurance provider. The City will not pay the cost of such coverage for any employee retiring on disability or deferred pension. e. For employees retiring who were hired after December 31, 2007, the City agrees to pay twenty-five (25%) percent of the cost of Major Medical benefits under a Supplemental Major Medical Expense Plan, individual coverage only, for those who have reached Medicare eligibility. The retiree will be required to pay, in advance, the remaining seventy-five (75%) percent of the cost of said coverage. The retiree shall have the option to ...
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Insurance Benefits for Retirees. Employees who have completed twenty (20) years of continuous service with the school district, the district will provide $150 per month into a Health Care Savings Plan (HCSP) with the Minnesota State Retirement for ten (10) years following the date of retirement, and $100 per month for the subsequent five (5) years for the purpose of supplementing the cost of the retiree’s health insurance. This amount shall be deposited annually in July into the HCSP.
Insurance Benefits for Retirees. Effective July 1, 2007, a teacher who is a least fifty-five (55) years of age by August 31 of the school year during which the retirement is to become effective and has: (a) twenty (20) or more years of seniority teaching in the District; or (b) twenty (20) or more years of full-time service in the District (30 or more hours a week) which years of service need not be consecutive, and who retires during the term of this Agreement shall be eligible for insurance benefits from the retirement/severance trust fund as follows:
Insurance Benefits for Retirees. For teachers who retire after having completed twenty (20) years of continuous service with the School District and qualify for TRA retirement benefits, the School District will provide $150 per month into a Health Care Savings Plan (HCSP) with the Minnesota State Retirement until the retiree is eligible for Medicare, after which time the School District will contribute $100 per month for the subsequent five (5) years for the purpose of supplementing the cost of the retiree’s health insurance. Teachers who retire on or after their Medicare eligibility age will receive these benefits until their age exceeds five years beyond Medicare eligibility. For the purpose of this section, the insurance benefit shall be calculated as the greater of twenty (20) cumulative years of service, or by dividing the employee’s total FTE’s by the employee’s years of service within the District. This amount shall be deposited two times per year into the HCSP; the month of September and the month of January.
Insurance Benefits for Retirees. The School District will provide $100 month towards a School District health insurance plan for ten (10) years following the date of retirement or until the retiree is eligible for Medicare, whichever comes first, and $50 per month for the subsequent five (5) years into a Health Care Savings Plan (HCSP) with the Minnesota State Retirement for the purpose of supplementing the cost of the retiree’s health insurance. This benefit is only available for those employees who have completed twenty (20) years of continuous service with the School District. “Continuous service” is defined as uninterrupted employment by the School District on an annual basis of at least thirty (30) hours per week and nine (9) months per year, or a minimum of 1,044 hours. This amount shall be deposited two times per year into the HCSP; the month of September and the month of January.
Insurance Benefits for Retirees. Unless otherwise specified, effective upon the execution of this Agreement, or as soon thereafter as possible, the City shall provide and pay for the insurance for all retirees covered by this Agreement in accordance with the following schedule: a. Effective July 1, 2001, The City shall provide and pay for the entire cost of a fifteen thousand ($15,000.00) dollar Life Insurance policy for employees who retire after ten
Insurance Benefits for Retirees. The board shall extend the single health/hospitalization insurance provisions of this agreement to any member of the unit that desires early retirement and was enrolled at retirement. Board contributions shall cease after
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Insurance Benefits for Retirees a. PRE-2007 EMPLOYEES (Hired in the Fire Department Before July 1, 2007) i. Hired Before July 1, 2007, Eligible to Retire as of July 1, 2016 & Retire On or Before December 31, 2017. For employees hired on or before July 1, 2007, who are eligible to retire as of July 1, 2016 and whose effective date of retirement is or on or before December 31, 2017, and who are age fifty (50) or older at time of retirement or upon reaching age fifty (50) after retirement, the City shall provide the retiree and the retiree’s spouse, if the retiree is married at time of retirement, the entire health insurance package in effect at said employee’s date of retirement which shall be converted to an over sixty-five benefits plan. If the City’s health insurance plan for active employees is the HDHP at the time of retirement, the health insurance package provided to the retiring employee shall be the PPO plan in effect as of June 30, 2017. The retiree, or the retiree’s survivor, shall contribute the same percentage of the equivalent monthly premium rate as is paid by active employees for family coverage (as defined in section 3.5, paragraph 10) at the time of retirement. Said contribution shall be fixed upon retirement at the amount in the fiscal year in which the employee retires and paid by the retiree or the retiree’s spouse as long as either is covered by the health insurance package. Additionally, each such retiree may elect to purchase through pension deduction the entire health insurance package in effect at their date of retirement for other enrolled dependents at the group rate. For the purposes of this Section, the group rate for other enrolled dependents includes the retiree contribution amount as outlined above plus the difference between the two person rate and the family rate for active employees of the Fire Department. For employees hired before July 1, 2007, who are eligible to retire as of July 1, 2016, and who retire or on or before December 31, 2017, and are under age fifty (50) at the time of retirement, the City shall provide the retiree with the option to purchase, through pension deduction, the entire health insurance package in effect at their date of retirement, including any dependent coverage. If the City’s health insurance plan for active employees is the HDHP at the time of retirement, the health insurance package provided to the retiring employee shall be the PPO plan in effect as of June 30, 2017. If the retiree elects to purchase health insurance cov...
Insurance Benefits for Retirees. Subd. 1 Effective July 1, 2007, a teacher who is a least fifty-five (55) years of age by August 31 of the school year during which the retirement is to become effective and has: (a) twenty (20) or more years of seniority teaching in the District; or (b) twenty (20) or more years of full-time service in the District (30 or more hours a week) which years of service need not be consecutive, and who retires during the term of this Agreement shall be eligible for insurance benefits from the retirement/severance trust fund as follows: a. The School District shall contribute $210.00 per month until eligible for Medicare. The portion of the premium not contributed by the School District shall be borne by the teacher. b. Should a retired employee die while participating in the District group medical insurance plan and purchasing dependent coverage, the retired employee's spouse may continue participating in the plan for up to seven years following the retirement of the employee. The spouse shall pay the entire premium for such coverage. c. Should an active employee who is eligible for retirement pass away, the employee’s spouse continue participation in the District group medical insurance plan for up to five (5) years following the death of the employee, with the following limitation: (1) The employee was enrolled in the District group medical plan, purchasing dependent coverage. The spouse shall pay the entire premium for such coverage.
Insurance Benefits for Retirees 
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