Common use of Insurance Premium Entitlement Clause in Contracts

Insurance Premium Entitlement. i. Provided the teacher is age 55 or older, the Board of School Trustees will continue to pay the same portion of the monthly insurance premium as is paid for all other full-time teachers until the teacher qualifies for government health insurance. For teachers who have retired before June 30, 2019, the Board of School Trustees will contribute an additional $150 annually toward insurance premiums until the teacher qualifies for government health insurance. ii. In the case of a teacher who will turn age 55 after the next school year begins, but before the end of its first sixty school days, they may apply in writing by March 31 of the current school year to be allowed to retire at the end of that current school year and receive the monthly insurance premium entitlement established in number B.e.i. above, plus an extended like entitlement bridging the time between the end of their entitlement as an active teacher and their 55th birthday. 1. Upon receipt of such application, the Board shall make a decision as to whether or not to grant the request with such decision based on the school corporation’s ability and willingness to fund such an extended benefit and its anticipated ability and willingness to secure a replacement teacher, if needed, for the period of time between the beginning of the upcoming school year and the retiring teacher’s 55th birthday. 2. The Board shall make its decision and such decision shall be communicated in writing to the teacher by no later than May 31 following receipt of the application. 3. The application shall be irrevocable on the teacher’s part and considered revoked and moot should the Board deny the application per B.e.ii.2. above, or should the Board fail to make or communicate its decision in the timeline set above.

Insurance Premium Entitlement. i. Provided the teacher is age 55 or older, the Board of School Trustees will continue to pay the same portion of the monthly insurance premium as is paid for all other full-time teachers until the teacher qualifies for government health insurance. For teachers who have retired before June 30, 2019, the Board of School Trustees will contribute an additional $150 annually toward insurance premiums until the teacher qualifies for government health insurance. ii. In the case of a teacher who will turn age 55 after the next school year begins, but before the end of its first sixty school daystrimester, they he/she may apply in writing by March 31 of the current school year to be allowed to retire at the end of that current school year and receive the monthly insurance premium entitlement established in number B.e.i. above, plus an extended like entitlement bridging the time between the end of their his/her entitlement as an active teacher and their his/her 55th birthday. 1. Upon receipt of such application, the Board shall make a decision as to whether or not to grant the request with such decision based on the school corporation’s ability and willingness to fund such an extended benefit and its anticipated ability and willingness to secure a replacement teacher, if needed, for the period of time between the beginning of the upcoming school year and the retiring teacher’s 55th birthday. 2. The Board shall make its decision and such decision shall be communicated in writing to the teacher by no later than May 31 following receipt of the application. 3. The application shall be irrevocable on the teacher’s part and considered revoked and moot should the Board deny the application per B.e.ii.2. above, or should the Board fail to make or communicate its decision in the timeline set above.