Post Retirement Insurance. An employee who retires from service will be entitled to a $5,000 Life Insurance Policy, fully paid by the Company.
Post Retirement Insurance. See Article XVIII
Post Retirement Insurance. For teachers electing retiree insurance coverage pursuant to the Teachers' Retirement Insurance Program, the Board will pay the required premium for single coverage until the employee reaches age 65.
Post Retirement Insurance. Subject to any eligibility or participation requirements as may be established pursuant to the terms thereof, Executive shall be entitled to continue individual or family medical insurance coverage pursuant to terms of the Company’s retiree medical plan or Section 4980B of the Internal Revenue Code of 1986, as amended (“COBRA”). The premium for either option will be paid by the Company through December 31, 2013 and treated as taxable compensation to the Executive. Notwithstanding, if COBRA coverage is elected, the premium will be paid only through the maximum continuation period permitted under the law. Further, the Company’s premium payment will apply only to the continuation of medical coverage. After the period during which the Executive would be entitled to COBRA continuation coverage, the payment or reimbursement of the applicable premium, or the payment of taxable medical benefits, shall comply with the nonqualified deferred compensation rules of Section 409A. Such payments or reimbursements will be deemed paid as of the first of each month and: (a) the amount of benefits or reimbursements provided during one calendar year shall not affect the amount of benefits or reimbursements to be provided in any other calendar year; (b) the reimbursement of any eligible expense shall be made no later than the last day of the calendar year following the year in which the expense was incurred; and (c) the right to reimbursement or benefits hereunder is not subject to liquidation or exchange for another benefit.
Post Retirement Insurance. Subject to any eligibility or participation requirements as may be established pursuant to the terms thereof, Executive shall be entitled to continue to participate at the Company’s expense through May 31, 2010 in such group life insurance, long-term disability insurance and health insurance benefits (collectively, the “Group Benefits”) as the Company provides to its senior executive officer group during such period, or, alternatively, the Company shall compensate the Executive for the out-of-pocket costs incurred by the Executive to obtain commensurate benefits, including a gross-up payment to the Executive for the income tax consequences of such reimbursement (but not a gross-up for any other purpose); provided, however, that if any benefits provided to the Executive by the Company under this Article II, Section 3 are taxable to the Executive, then, with the exception of medical insurance benefits, the value of the aggregate amount of such taxable benefits provided to the Executive pursuant to this Article II, Section 3 during the six month period following the date of Separation from Service shall be limited to the amount specified by Internal Revenue Code §402(g)(1)(B) for the year of the date of termination of employment (e.g. $15,500 in 2008). The Executive shall pay the cost of any benefits that exceed the amount specified in the prior sentence during the six month period following Separation from Service. The Company shall reimburse the Executive for all expenses paid by the Executive for such coverage on the first business day that is more than six months following the date of Separation from Service. The reimbursement of the cost of disability insurance, life insurance, the reimbursement of the cost of taxable medical, dental and hospitalization benefits after the end of the period during which the Executive would be entitled to continuation coverage under the Company’s group health plan under Section 4980B of the Code (COBRA), and the reimbursement of any other taxable benefits provided under this Section 3, shall comply with the requirement that non-qualified deferred compensation be paid on a specified date or pursuant to a fixed schedule, which requires that (1) the amount of benefits or reimbursements provided during one calendar year shall not affect the amount of benefits or reimbursements to be provided in any other calendar year, (2) the reimbursement of any eligible expense shall be made no later than the last day of the calendar year f...
Post Retirement Insurance. An employee whose age plus years of service equals sixty-five (65) shall be permitted to maintain hospitalization coverage at the actual equivalency rate charged to the District by the insurance carrier, until age sixty-five (65).
Post Retirement Insurance. The Board shall provide the Superintendent with a post retirement benefit for five years after retirement from District 200 in the form of payments toward the Superintendent’s TRS medical insurance plan premiums in an amount equal to the District’s contributions to family medical coverage (as of the date of the Superintendent’s retirement) under the District’s medical insurance plan. This benefit does not include payment for dental or vision coverage. This benefit is contingent upon the Superintendent fully completing the term of this Agreement as defined in Paragraph A.1 herein. The amounts paid under this provision will be treated as taxable income. In the event that this benefit becomes subject to the Affordable Care Act’s non- discrimination provisions relative to highly compensated employees or otherwise prohibited by applicable law, the Superintendent agrees that the Board may adjust the continuation of this benefit as needed by providing the payments that would otherwise have been made under this provision directly to the Superintendent.
Post Retirement Insurance. A teacher who meets the eligibility criteria established in this Section will be permitted to participate in the Board’s medical and dental insurance program on the same basis as current employees until the teacher reaches the age of eligibility for Medicare. Upon becoming entitled to Medicare, the teacher may participate in the Board’s Medicare supplement program by paying the full premium cost as may be amended from time to time.
Post Retirement Insurance. Subject to any eligibility or participation requirements as may be established pursuant to the terms thereof, Executive shall be entitled to continue individual or family medical insurance coverage under the Company’s medical plan pursuant to Section 4980B of the Internal Revenue Code of 1986, as amended (“COBRA”), provided a timely COBRA election is made. The Agreement is not intended to extend the duration of health insurance coverage under the Company’s medical plan beyond the period provided for via COBRA. The parties acknowledge that Executive intends to use a portion of the Fee to pay some or all of the cost of COBRA coverage under the Company’s medical plan, although Executive is not required to use any portion of the Fee for such purpose. For example, Executive may also use the Fee to help cover the cost of Medicare, supplemental, individual, or such other coverage as Executive and his family may elect to purchase, or for any other purpose.
Post Retirement Insurance. An employee who retires from service will be entitled to a Life Insurance Policy, fully paid by the Company. Inactive Employees -- Participating employees who are laid-off shall be entitled to continue their Life Insurance and accidental death and dismemberment insurance by remitting the appropriate premium to the Company for a period not exceeding twenty four months from the last date of regular service. Article Twenty-one: Employee Benefit Plan (continued) Conditions and procedures for such direct payment will be set by the Company, in accordance with the terms of the policy with the Underwriter. Participating employees who are on leave of absence shall be entitled to continue their Life Insurance and accidental death and dismemberment insurance by remitting the appropriate premium to the Company for a period not exceeding twelve months from the last date of regular service. Conditions and procedures for such direct payment will be set by the Company, in accordance with the terms of the policy with the Under-writer Coverage Termination Subject to the terms of the policy with the Insurance Company or other specific pro- vision herein life insurance coverage will cease on the last day worked in the event of:
