Post-Retirement Health Benefits. Post-retirement health benefits (PRHB) refers to costs of health insurance or health services not included in a pension plan for retirees and their spouses, dependents, and survivors. PRHB costs may be computed using a pay-as-you-go method or an acceptable actuarial cost method in accordance with established written policies of the Grantee.
Post-Retirement Health Benefits. The Employer shall provide a health, dental, and vision insurance plans for the retiree only who meets the following criteria:
a. Employees hired prior to July 1, 2011:
(1) Employee is age fifty-five (55) or more at the time of retirement.
(2) Employee has been in paid status in the employment of the Contra Costa Superintendent of Schools for the five (5) years immediately preceding retirement date.
(3) Employee must be enrolled in health, dental, and vision plans prior to the date of retirement.
(4) If a retiree moves to an area where the current health plan carriers do not have operations, the retiree could choose a comparable medical provider available in that area and apply for an individual plan. The Employer would reimburse the retiree an amount not to exceed the cost of equivalent coverage available from our current health plan and shall not exceed the amount being paid for an active bargaining employee.
(5) The payment of such premiums shall continue until age sixty-five (65) or until employee qualifies for Medicare or Medi-Cal benefits, with the Employer paying up to the maximum single-party Kaiser HMO or single-party Blue Shield HMO as established under CalPERS. At this time, the employee will be eligible to continue group health benefits through CalPERS.
b. New employees hired after July 1, 2011:
(1) Employee is age fifty-five (55) or more at the time of retirement.
(2) Employee has been in paid status in the employment of the Contra Costa Superintendent of Schools for the ten (10) years immediately preceding retirement date.
(3) Employee must be enrolled in health, dental, and vision plans prior to the date of retirement.
(4) If a retiree moves to an area where the current health plan carriers do not have operations, the retiree could choose a comparable medical provider available in that area and apply for an individual plan. The Employer would reimburse the retiree an amount not to exceed the cost of equivalent coverage available from our current health plan and shall not exceed the amount being paid for an active bargaining employee.
(5) The payment of such premiums shall continue until age sixty-five (65) or until employee qualifies for Medicare or Medi-Cal benefits, with the Employer paying up to the maximum single-party Kaiser HMO or single-party Blue Shield HMO as established under CalPERS. At this time, the employee will be eligible to continue group health benefits through CalPERS.
c. New employees hired after July 1, 2011:
(1) Employe...
Post-Retirement Health Benefits. As of the date hereof, Transferor maintains one or more Plans that are "employee welfare benefit plan" (within the meaning of section 3(1) of ERISA) and that provide post-retirement health benefits to Business Employees and former employees of the Business ("Transferor Retiree Welfare Benefits"). Effective as of, and subject to the Closing, the Company shall assume the obligation to provide such Transferor Retiree Welfare Benefits, provided that Transferor agrees to reimburse the Company after the Closing Date for the actual cost incurred by the Company to provide the Transferor Retiree Welfare Benefits under the terms of the applicable Plan in effect as of the date hereof, to the extent such cost incurred by the Company exceeds (i) $500,000 with respect to any full calendar year beginning after the Closing Date, or (ii) with respect to the calendar year in which the Closing Date occurs, an amount equal to $500,000, multiplied by a fraction, the numerator of which is the number of days in such calendar year after the Closing Date and the denominator of which is 365. Such reimbursement shall be made within 30 days after presentation of written monthly statements thereof to Transferor to the extent not disputed.
Post-Retirement Health Benefits. Commencing in the spring semester of 2006, interested constituents, including the District Insurance Review Committee, will form a group to examine issues related to health care for eligible retirees. Such issues shall include, but are not limited to, funding requirements, funding source, vesting requirements, pre-funding period, adequacy of current contribution amounts, coverage for dental insurance and coverage for spouses or domestic partners covered by the District’s health insurance at the time of retirement. The committee will also explore expansion of options under IRC Section 125. The work of the group will be completed and a report will be issued prior to January 2007. Implementation of any potential plan will not need the District Insurance Review Committee’s or any other union’s approval.
Post-Retirement Health Benefits. 1. The Employer shall provide post-retirement medical health insurance benefits, provided the employee qualifies for and has retired through the New Jersey Division of Pensions and Benefits under the Police and Fireman's Retirement System (PFRS) or the Public Employees Retirement System (PERS) and meets at least one of the following requirements:
a. Retirement on a disability pension.
b. Retirement with 25 years or more of service credit in a state or Locally-administered retirement system and at least 15 years of service with the County of Salem.
c. Retirement at age 62 or older with at least 15 years of service with the County of Salem.
2. The post-retirement coverage shall be applicable to the employee and only to the employee's spouse and dependents covered at the time of retirement. If the coverage referenced in the preceding sentence, changes after retirement the retired employee shall be responsible for any additional cost or premium. Coverage for any surviving spouse or dependents may continue after the death of the retired employee, subject to payment of the premium by such spouse/dependents.
3. Retirees receiving the coverage shall be required to enroll in Medicare (both Parts A and B) upon eligibility whereas the Medicare coverage shall be the primary coverage.
Post-Retirement Health Benefits. For purposes of eligibility and premiums for post-retirement health benefits provided under the Madison Gas and Electric Company Health Benefit Plan, the Employee will be deemed to have an additional years of employment at retirement.]
Post-Retirement Health Benefits. Generally, Post Retirement Health Benefits (“PRHB”) are obligations of the State of New Jersey and paid by the State on a pay as you go basis. District made payments for Post Retirement Health Benefits (PRHB) for additional contributions to the State Health Benefits Program related to personnel participating in a “mass” early incentive retirement program (ERIP) and are currently recorded in two object codes (objects 232, and 242) within the chart of accounts. The XXX’s have the option of either allocating fringe benefits to each function or reporting them in one function (unallocated). The electronic Indirect Cost Application requires LEA’s to include all PRHB as indirect costs for both the Restricted and Unrestricted rate regardless of where the employees salary is recorded with one exception. For purposes of calculating the restricted rate, PRHB costs associated with Superintendent, Chief Executive Officer (CEO), and heads of components (as defined by 34 CFR 76.565(d)(2)) and their immediate offices will be treated as direct (function code 230).
Post-Retirement Health Benefits. If the Executive, or any of his dependents, was participating in any Company-sponsored group health plan (including dental plans, but excluding life and disability) as of the Date of Termination and such plans continue in effect for active employees of the Company, the Company will continue coverage thereunder (under the terms applicable to senior executives) and will pay the Executive's share of any premiums thereunder for the remainder of the Executive's life, provided that for the Executive's dependents, such coverage will be no less than ten (10) years. If the Company is unable, at any point, to provide such coverage under any such plans, the Company will pay the Executive a lump sum cash payment which, after the payment by the Executive of all applicable taxes thereon, will equal the present value of the cost of such coverage (based on the Actuarial Assumptions and a reasonable forecast of increases in the cost of such coverage) for that portion of the period following the Date of Termination for which such coverage could not be provided (the "Post Retirement Health Benefit" and with the Retirement Pay, the "SERP Benefits").
Post-Retirement Health Benefits. If you continue in employment with the Affiliated Group until you attain the age of 57 on January 3, 2006, or if you suffer a Termination Event prior to such date, the Company will make arrangements (which may include making payments on your behalf on a basis that holds you harmless for taxes on such payments) ensuring that the cost to you and your eligible dependents of any post-retirement health benefits provided by the Company are no greater than the contributions required of Company employees who retire with 25 years of service.
Post-Retirement Health Benefits. Seller's liability and/or contingent liability for all retired and Transferred Employees' retiree health benefits under any collective bargaining agreement.
