Participation and Contributory Premiums for Retirees. If you are eligible to retire under the Pension Plan directly from employee status for any reason and are under age 65, you may elect to participate in the Healthcare Program. Your monthly payment to participate will be equal to BIW’s average cost for the coverage level you select.
Participation and Contributory Premiums for Retirees. If you are eligible to retire under the pension plan directly from employee status for any reason other than a disability as described in the next paragraph and are under age sixty-five (65), you may elect to participate in the healthcare program by making monthly payments equal to BIW’s average cost for the coverage level you select. If injury forces you to retire because of an industrial accident or occupational disease, BIW will continue your basic health insurance payments on the same basis as if you were at work, those payments to continue until Medicare payments for you become effective or until you have a determination from the Industrial Accident Commission or under the Longshoremen and Harbor Workers’ Act, whichever event shall first occur. In no event will BIW be liable for basic health insurance payments for more than two (2) years following the date of retirement.
Participation and Contributory Premiums for Retirees. If you are eligible to retire under the Pension Plan directly from employee status for any reason and are under age 65, you may elect to participate in the Healthcare Program. If you are younger than age 62, your monthly payment to participate will be equal to BIW’s average cost for the coverage level you select. If you are age 62 and under age 65 and terminate employment on any date that falls on or between October 15, 2012 and April 15, 2013, your monthly payment to participate will be equal to the monthly equivalent of the weekly contribution amounts for active employees. If you choose to waive participation in the Healthcare Program, you will receive a single taxable lump-sum of $8,000. If you are age 62 and under age 65 and terminate employment on any date that does not fall between October 15, 2012 and April 15, 2013, your monthly payment to participate will be equal to BIW’s average cost for the coverage level you select. If you are over age 65 you are not eligible for the Healthcare Program, however if you terminate employment on any date that falls on or between October 15, 2012 and April 15, 2013, you will receive a single taxable lump-sum of $8,000.
