Medical Premium Payment Upon Retirement Sample Clauses

Medical Premium Payment Upon Retirement. 6.6.1 For employees who retire from the City of Dixon, the City will pay, on a monthly basis after retirement, the dollar equivalent of one (1) month’s premium for the PERS Xxxxxx Plan (County rate in which you reside, i.e., Bay Area or Sacramento Area) for the employee plus one dependent at the rate of one (1) month’s premium for each full year worked in the employ of the City of Xxxxx prior to retirement. The total time period of these payments shall not exceed twenty-four (24) months. Said payment shall be extended to the surviving spouse or dependent of a deceased retiree, to the extent that said payments would have been made had the employee not died. Thereafter, for XxxXXXX retirees enrolled in CalPERS Retiree medical, the City shall contribute the PERS Medical Unequal Contribution, as required by CalPERS.
Sample 1
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Medical Premium Payment Upon Retirement. 6.4.1 For employees who retire from the City of Dixon, the City will pay, on a monthly basis after retirement, the dollar equivalent of one (1) month’s premium for the PERS Xxxxxx Plan (County or Region rate in which you reside.) for the employee plus one dependent at the rate of one (1) month’s premium for each full year worked in the employ of the City of Xxxxx prior to retirement. The total time period of these payments shall not exceed twenty-four (24) months. Said payment shall be extended to the surviving spouse or dependent of a deceased retiree, to the extent that said payments would have been made had the employee not died. Thereafter, for XxxXXXX retirees enrolled in CalPERS Retiree medical, the City shall contribute the PERS Medical Unequal Contribution, as required by CalPERS.
Sample 1

Related to Medical Premium Payment Upon Retirement

  • Lump Sum Payment Upon award of the contract for this improvement, the LA will pay to the STATE, in lump sum, an amount equal to 80% of the LA’s estimated obligation incurred under this Agreement, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs. Method B - Monthly Payments. Upon award of the contract for this improvement, the LA will pay to the STATE, a specified amount each month for an estimated period of months, or until 80% of the LA’s estimated obligation under the provisions of the Agreement has been paid, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs.

  • Premium Payment The Bank shall pay any premiums due on the Policy.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Premium Payments If an employee with at least three years of service in the employ of the Shaker Heights Board of Education should exhaust his/her sick leave within the time specifications of this contract and is granted a leave of absence by the Board, the Board shall continue to pay his/her premiums in accordance with his/her work assignment for the following fringe benefits for a period not to exceed twelve (12) months. The payment of such premiums will cease on the effective date an employee retires, resigns, goes on disability retirement or his/her contract is terminated. 1. PPO medical coverage 2. Prescription drug coverage

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