Post-Retirement Health Insurance Program Sample Clauses

Post-Retirement Health Insurance Program a. Subject to the lifetime cap outline below set forth herein, the District will pay up to $10,000 annually toward a District provided health and welfare benefit plan. No more than $10,000 will be paid in any fiscal year. The retiree chooses which plan(s) he/she will be covered under. b. If the full $10,000 is not paid out during any fiscal year, the unpaid balance shall be carried forward to be paid toward the District provided health and welfare benefit plan in the following fiscal year(s). The District will not pay more than $10,000 plus any carryover each fiscal year. c. The total amount paid pursuant to this program, regardless of any amount paid in any given fiscal year, shall not exceed a cumulative total of the amounts listed below. Payment toward the District provided health and welfare benefit package selected by the employee shall continue until the employee’s death or until the District has paid the total capped amount listed below, whichever occurs first. d. Payment shall cease upon the employee’s death, regardless of whether the District has paid out the full cap. In the event of the retiree’s death, if the District’s health and benefit plan carrier permits continued coverage for the employee’s surviving spouse, the District will continue to pay any unused portion of the cap amount toward the District provided health and welfare benefit plan, subject to the $10,000 annual payment restriction. Payments will terminate upon the death of the surviving spouse or upon exhaustion of the original cap, whichever occurs first. This benefit, based on the fiscal year, will be offered to employees who are at least 55, but not older than 63 as of June 30th of the year of retirement. The benefit will be a total of $50,000.

Post-Retirement Health Insurance Program a. Subject to the eligibility requirements outlined below, the District will pay up to the CAP noted in Section 1 above toward a District provided health and welfare benefit plan. No more than the cumulative CAP, or $10,804.80, will be paid in any fiscal year. The retiree chooses which plan(s) he/she will be covered under. b. Payment toward the District provided health and welfare benefit package selected by the retiree shall continue until the retiree’s death or until the District has paid the amount listed in 2.f below, whichever occurs first.

Post-Retirement Health Insurance Program a. Subject to the eligibility requirements outlined below, the District will pay up to the CAP noted in Section 1 above toward a District provided health and welfare benefit plan. No more than the cumulative CAP, or $11,004.80, will be paid in any fiscal year. The retiree chooses which plan(s) he/she will be covered under. b. Payment toward the District provided health and welfare benefit package selected by the retiree shall continue until the retiree’s death or until the District has paid the amount listed in 2.f below, whichever occurs first. c. In the event of the retiree’s death, if the District’s health and benefit plan carrier permits continued coverage for the retiree’s surviving spouse, the District will continue to pay any unused portion of the benefit toward the District provided health and welfare benefit plan, subject to the annual CAP payment restriction. Payments will terminate upon the death of the surviving spouse or upon exhaustion of the benefit maximum in 2.f, whichever occurs first. d. This benefit, based on the fiscal year, will be offered to employees who are at least 55, but not older than 63 as of June 30th of the year of retirement. e. The benefit will be for a maximum of five (5) times the cumulative CAP, or $55,024 In order to obtain benefits pursuant to this Post-Retirement Health Insurance Program, employees must meet the following criteria: 1. The retiring employee must be at least 55 years of age and a current member of the CEA bargaining unit. 2. The employee must have 20 years of service as a credentialed employee within the District preceding his/her retirement. 3. Employees wishing to take advantage of this retirement program must opt in by submitting their irrevocable notice of resignation/retirement. 4. Retirements which occur during the school year will have benefits under this plan prorated by percentage of contract completed. 5. Contiguous enrollment between employee and retiree status is required. There can be no break in participation of a District sponsored benefit plan. 6. Participation in this benefit ceases once the retiree becomes age eligible for Medicare/MediCal