Post-Retirement Health Insurance. For those regular employees hired before December 31, 2008, post retirement health insurance is provided as part of the medical plan for the employee and his or her dependents. To be eligible an employee must meet CalPERS eligibility requirements, currently age 50 with a minimum of 5 years CalPERS service. For those regular employees hired on or after January 1, 2009, post retirement medical insurance is provided under G.C. 22893 rules and requires a minimum of ten years of compensated CalPERS service time (not including air time), with five of the ten years served at NCPA to receive 50% of the employer premium contribution for medical insurance. Each additional service credit year after ten (10) years increases the employer premium contribution percentage by 5% until twenty (20) years at which time the retiree is eligible for 100% of the employer premium contribution toward family coverage. Retirees may elect a monthly payment via check in-lieu of the medical insurance coverage if they present proof of alternate medical insurance. The amount of the monthly payment will be the same as for active employees (see Section 14.1).
Post-Retirement Health Insurance. If the Superintendent takes full retirement with the Virginia Retirement System while under contract with the Board or immediately following the end of the term of this Agreement, and subject to sufficient annual appropriations necessary for the Board to meet its obligations hereunder, then the Superintendent, upon such a retirement, may, at no cost to the Superintendent, elect to continue coverage under any plan and tier of health insurance being offered by the Board at that time. The post-retirement insurance coverage provided for herein shall continue for the shorter of seven years from the date of retirement or until such time as the Superintendent becomes eligible for Medicare.
Post-Retirement Health Insurance. 21.1 Employees to contribute two percent (2%) of gross wages for M.S.R.S. Post-Retirement Health Insurance Savings Plan.
Post-Retirement Health Insurance. For an ESP enrolled in the District insurance program at the time he/she files a notice of intent to retire, the Board will pay 50% of the Board insurance premium contribution for the applicable individual coverage for twenty-four (24) months following the employee’s retirement until Medicare eligible. With the exception of ESPs who submit a notice of intent to retire at the end of the 18-19 school year by October 1, 2018, an ESP who notifies the Superintendent he/she intends to retire at the end of the school year in which the notice of intent is served must do so by February 1 of that school year. The ESP shall receive only the unused accumulated sick leave payout and the post retirement health insurance benefit.
Post-Retirement Health Insurance. The Board shall provide the Superintendent with a post-retirement benefit in the amount of Twelve Thousand and Five Hundred Dollars ($12,500) annually for a period of five (5) years after the date of retirement for the Superintendent’s health insurance plan premiums. The parties understand and agree that this benefit is contingent upon the Superintendent fully completing the term of this Agreement as defined in Paragraph A.1.
Post-Retirement Health Insurance. Any non-instructional employee covered by this agreement shall, upon retirement, be allowed to continue health insurance coverage through the Xxxxxx Central School District-sponsored health insurance program by paying the full cost of the applicable premium. The employee will be eligible only for such benefit level as he or she carried as an employee, or a lesser level. In addition, in accordance with the plan document, if the employee selects a lesser level of coverage (i.e.- going from family to two-person or single), he or she cannot return to any higher level. Retired employees are eligible for medical and prescription coverage only and not dental or vision coverage, except for such benefits as provided under COBRA. All premium payments must be paid quarterly on the date established by the District. Failure to make a timely payment will result in cancellation of the retired employee’s policy. Should such cancellation occur, the retired employee will hold the District harmless for any injury or damages that may occur as a result of the retired employee’s failure to make such payments.
Post-Retirement Health Insurance. Employees employed at the beginning of the 2016-2017 School Year who elected the retirement program prior to the 2016-2020 Contract shall continue to be eligible for the post-retirement health insurance program as it existed under the Contract in which they declared. For Employees retiring pursuant to this 2016 - 2020 contract, the Board will contribute an amount towards that retired Employee’s premium for health insurance coverage under the TRS Teachers’ Retirement Insurance Program (“TRIP”), for ten (10) years or until the retiree becomes Medicare eligible, whichever occurs first. The retired Employee shall not have the option of receiving this contribution in any other form. Recognizing that the deferred compensation program will not have time to adequately fund the retiree insurance benefit, the amount of the Board’s TRIP contribution shall be calculated based in part by offsetting the amount the Board has previously contributed to the retired Employee’s 403(b) benefit pursuant to Section 16.5 below. The calculation shall be as follows: • For purposes of the calculation of the TRIP benefit, a retired Employee’s “TRIP Eligibility Years” shall be equal to the age of Medicare eligibility (currently age 65) less the retired Employee’s age in years (or partial years) at the time of retirement from the District. • Divide the total amount the Board has contributed to the retired Employee’s 403(b) benefit (pursuant to Section 16.5 below) by the cost of the annual PPO TRIP premium (Employee plus 1/2 dependent or single based upon level of TRIP elected by retiring Employee) in effect at the time the Employee retires (resultant amount hereinafter referred to as the “403(b) factor.”) • Subtract the 403(b) factor from the TRIP Eligibility Years and divide the result by the TRIP Eligibility Years. Multiply the result by 100 to arrive at the percentage of the TRIP premium the Board will pay on behalf of the retired Employee for the duration set forth in the first paragraph of this section 16.3.2. • All percentages will be rounded to the thousandths (i.e. to the fourth decimal point). • Example Retiree, age 57 o Assuming district has contributed $10,651 to employee’s deferred compensation plan; o Assuming the current ANNUAL PPO TRIP premium at retirement is $15,396 for employee plus ½ dependent $10,651/$15,396 = .69 years’ worth of TRIP premium has already been contributed by district to deferred compensation plan; o At age 57, employee is TRIP eligible for 8 years un...
Post-Retirement Health Insurance. (a) Officers hired after July 1, 2017 shall not be eligible for any post-retirement health care benefits.
Post-Retirement Health Insurance. Following retirement, the Superintendent shall be entitled to health insurance as follows: If eligible as described below, the District will contribute toward the cost of providing the Superintendent with individual and spousal health insurance coverage in· retirement, provided the Superintendent retires (i.e., resigns from District employment and receives retirement benefits under the New York State Teachers' Retirement System) during the term of this Agreement at the normal retirement age with at least fifteen (15) years of full-time continuous service with the District. The amount of the District's contribution towards his own and/or his spouse's coverage in retirement shall be the same level (percentage) of the District's contribution as set forth in Article V, Section 1 at the time of the Superintendent's retirement, with the understanding that the District is required to contribute only toward the cost of "wrap-up" coverage (over and above that provided by Medicare) for· the Superintendent and his spouse after age sixty-five (65). The Superintendent shall be responsible for the portion of any such health insurance premium above the amount of the District's contribution. The Superintendent will not be eligible to receive continuing health insurance coverage in retirement if he is eligible for health insurance coverage through another source after retiring (except Medicare), such as through a spouse's employer or through his own continued employment after retiring from the District. If the Superintendent is no longer eligible for health insurance coverage through another source, then the Superintendent may return to the District's health plan as described herein. If the Superintendent's spouse is covered by the District's health plan at the time of the Superintendent's death, then such spouse may continue to participate in the District's health plan at her own expense, if permitted by the District's insurance carrier.
Post-Retirement Health Insurance. Hired On or After January 1, 2011 A bargaining unit employee who was hired on or after January 1, 2011 wishing to continue his participation and coverage in the Village's group health insurance program as a retiree shall be responsible for 100% of the premium payments for such health insurance coverage upon retirement. The Village shall have no obligation to make any payments or contributions for such insurance premiums, but shall be required to make annual contributions equal to one and one-half percent (1½%) of the employee's base salary into a Retirement Health Savings (RHS) account. The employee shall also be required to make annual contributions into the same RHS account equal to at least one and one-half percent (1 ½%) of the employee’s base salary, but may voluntarily elect to contribute more than the mandatory contribution provided such additional contributions meet all necessary Federal and State laws.
