Medical Retirement Subsidy Plan Sample Clauses

Medical Retirement Subsidy Plan. The City provides the “Vantage Care” Retirement Health Savings Plan (“RHS”), which designated ICMA-RC as the administrator of the plan.
Sample 1
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Medical Retirement Subsidy Plan. Based on the first payroll period in October, 2001 and no later than October 31st each year thereafter for the term of this Agreement, the City shall contribute to a fund an amount of money equal to one percent (1%) of the bargaining unit=s salary base plus pay additives for the purpose of providing a retiree health insurance subsidy plan. Eligibility for and the specific payments made to members of the bargaining unit pursuant to this plan shall be designated at the sole discretion of the Association. Members represented by this Agreement who are not or have not been enrolled in any of the City=s medical insurance plans shall remain eligible for this benefit. Members covered by this Agreement who participated in the Medical Retirement Subsidy Plan with the Santa Xxx Firemen=s Benevolent Association (SAFBA) and have promoted into the Fire Management Association (FMA) shall retain his/her investment with the SAFBA=s Medical Retirement Subsidy and continue to receive benefits in accordance with the SAFBA Medical Retirement Subsidy Plan. The plan shall be administered by the City, at no cost to the Association or its members pursuant to the written directives of the Association. The funds contributed by the City will be maintained in such a manner as to insure that the funds are invested in a reasonably secure plan that bears a reasonable rate of interest/growth given current financial markets. For purposes of this Agreement, investments made pursuant to the then current Statement of Investment Policy for the City of Santa Xxx, shall be deemed to meet the requirements of this section. This program is for medical insurance premium reduction only and will be implemented by February 1, 2002 for an employee retiring after July 1, 2001. If an employee retires between July 1, 2001 and February 1, 2002, he or she will be eligible to participate in said plan; however, in no event, will he or she be eligible to utilize this program until February 1, 2002. Additionally, in no event shall said employee(s) be eligible for retroactive medical premium reduction assistance between the date of retirement and February 1, 2002. Effective July 1, 2004 and July 1, 2005, respectively, the City shall contribute an amount of money equal to one percent (1%) of the bargaining unit’s base salary, including pay additives, for the purpose defined herein. Effective July 1, 2006 and July 1, 2007, respectively, the City shall contribute an additional three­quarters of one percent (.75%) fo...
Sample 1
Medical Retirement Subsidy Plan. The City provides a Retirement Health Savings Plan (“RHS”).
Sample 1

Related to Medical Retirement Subsidy Plan

  • Post Retirement Health Care Benefit Employees who separate from State service and who, at the time of separation are insurance eligible and entitled to immediately receive an annuity under a State retirement program, shall be entitled to a contribution of two hundred fifty dollars ($250) to the Minnesota State Retirement System’s (MSRS) Health Care Savings Plan. Employees who have a HCSP waiver on file shall receive a two hundred fifty dollars ($250) cash payment. If the employee separates due to death, the two hundred fifty dollars ($250) is paid in cash, not to the HCSP. An employee who becomes totally and permanently disabled on or after January 1, 2008, who receives a State disability benefit, and is eligible for a deferred annuity under a State retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. Employees are eligible for this benefit only once.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Retirement Programs The Company agrees to provide Employees with the benefits under the Magna Group of Companies Retirement Savings Program as set out in the Employee Retirement Savings Program Booklets.

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Dental Care Plan The Welfare Plan will include a Dental Care Plan which will reimburse members for expenses incurred in respect of the coverages summarized in Appendix "1". The Plan will not duplicate benefits provided now or which may be provided in the future by any government program.

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