POST-RETIREMENT HEALTH COVERAGE Sample Clauses

POST-RETIREMENT HEALTH COVERAGE. Effective January 1, 1998, employees who qualify for retirement under their pension plan, and who have twenty-five (25) or more years of credited service with Xxxxxx Permanente, are eligible to receive post-retirement health coverage. The coverage will commence at age 65 or upon retirement, whichever is later. The Employer will pay $65 per month toward the cost of coverage which is supplemental to Medicare. The retiree must obtain and retain Medicare Part B coverage at his/her own expense.
Sample 1
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POST-RETIREMENT HEALTH COVERAGE. Seller has no post-retirement health coverage plans or agreements. Neither the Purchaser nor any of its Affiliates will be liable for the payment of any health expenses incurred by individuals who retired from the Seller's employment on or before the Closing Date.
Sample 1
POST-RETIREMENT HEALTH COVERAGE. The Agreement is hereby amended by adding the following sentences to the end of Section 7(d): “To the extent that any portion of the health insurance coverage under this Section 7(d) is provided pursuant to a self-insured arrangement as defined in Internal Revenue Code Section 105 or is otherwise taxable, the benefits provided in any one calendar year shall not affect the amount of benefits to be provided in any other calendar year, and the reimbursement of an eligible expense shall be made on or before December 31 of the year after the calendar year in which the expense was incurred. Executive’s rights pursuant to this Section 7(d) shall not be subject to liquidation or exchange for another benefit.”
Sample 1
POST-RETIREMENT HEALTH COVERAGE. Employees who qualify for retirement under their pension plan, and who have twenty-five (25) or more years of credited service with Xxxxxx Permanente are eligible to receive post-retirement health coverage. The coverage will commence at age 65 or upon retirement, whichever is later. The Employer will pay $65 per month toward the cost of coverage which is supplemental to Medicare. The retiree must obtain and retain Medicare Part B coverage at his/her own expense. The supplemental coverage will continue for the life of the retiree. The retiree may elect coverage under the options offered to employees. If the option selected has a higher premium than Xxxxxx Permanente coverage, the retiree will pay the difference in premium.
Sample 1

Related to POST-RETIREMENT HEALTH COVERAGE

  • Health Coverage For the duration of the leave required under this policy, not to exceed twelve (12) weeks, the Board will maintain the employee’s health coverage under any group health plan at the same level and under the same conditions as if the employee had continued to work. Any employee contributions to the health plan must be maintained during the leave to maintain coverage.

  • 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.

  • Pre-Retirement Leave An Employee scheduled to retire and to receive a superannuation allowance under the applicable pension Acts or who has reached the mandatory retiring age, shall be entitled to: (a) A special paid leave for a period equivalent to fifty percent (50%) of his/her accumulated sick leave credit, to be taken immediately prior to retirement; or (b) A special cash payment of an amount equivalent to the cash value of fifty percent (50%) of his/her accumulated sick leave credit, to be paid immediately prior to retirement and based upon his/her current rate of pay.

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • Pre-Retirement Counseling Leave Each employee within four (4) years of chosen retirement age or date shall be granted, on a one-time basis, up to three and one-half (3-1/2) days leave with pay to pursue bona fide pre-retirement programs. Employees shall request the use of leave provided in this Section at least five (5) days prior to the intended day of use.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Deferred Retirement a. An employee who is eligible for paid retirement at the time he or she separates from County service, but elects deferred retirement, may defer participation in the Grant until such time as he or she becomes an active retiree. b. An otherwise eligible employee who is not eligible for paid retirement at the time he or she separates from County service but is eligible for and elects deferred retirement shall not become eligible for participation in the Grant.

  • Retirement Plans (a) 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 (“Qualified 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, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • 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.

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