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:
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. The Society shall make a voluntary post-retirement benefit plan available to eligible employees and their spouses and dependent children, that provides the employee with the ability to purchase dental and extended health care benefit coverage upon retirement. If the employee is of an eligible age, group life insurance may be converted to an individual policy within 30 days of terminating group coverage. Employees who purchase post-retirement benefit coverage must pay 100% of the premiums for such coverage, directly to the retiree benefit provider. Employees who intend to purchase post-retirement benefit coverage under this Article must provide written notice to the Society no less than 15 calendar days after terminating group coverage. All decisions under the post-retirement benefit plan will be made by the retiree benefit provider. The Society has no obligation in respect of any such decisions, including but not limited to decisions regarding eligibility, coverage, claim adjudication and premiums. Post-retirement benefit coverage is subject to modification from time to time by the retiree benefit provider. Employees must contact the retiree benefit provider directly in writing by email to request enrolment within 30 days of terminating employment.
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:
Post-Retirement Health Benefits. The Employer shall continue medical and prescription coverage for employees who retire on pension with at least 25 years of credited service in the Public Employees’ Retirement System or 25 years of service to the Employer, together with their dependents. In addition, coverage shall be continued for all employees who retire through PERS on a disability pension, together with their dependents.
Post-Retirement Health Benefits. Town retirees will have access to the CalPERS Health Care Plan in accordance with plan specifications under CalPERS' "unequal method" of Town funding.
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.
