Common use of Post-Retirement Insurance Benefits Clause in Contracts

Post-Retirement Insurance Benefits. An individual who is employed as a teacher by the Center Grove Community School Corporation at the time of retirement or severance from employment will be eligible for the following severance benefits provided the teacher has otherwise satisfied the requirements and conditions described below: A. Group Health Insurance Immediately following severance, the teacher and his/her spouse, if any, shall have the option of remaining in the Corporation’s current group medical, dental and vision insurance plan (“Group Health Plan”) if all of the following conditions are met as of the date of severance and thereafter: 1. The teacher has attained fifty-two (52) years of age and is not eligible for Medicare; 2. The teacher was enrolled in the Corporation’s group health plan immediately before severance; 3. The teacher must have completed not less than fifteen (15) full years of service as a professional educator in the Center Grove Community School Corporation; 4. Within ninety (90) days of the severance date, the teacher provides a written request to the School Corporation for continuing insurance coverage for the teacher and spouse, if any, and; 5. While the retired teacher and spouse, if any, remain enrolled in the group health plan, the retired teacher and spouse shall pay all premiums applicable to the group health plan coverage, with monthly payments made from their Separate Share of the VEBA and/or personal funds on or before the first day of each month for which group health plan coverage is to continue. Notwithstanding the foregoing, a retired teacher may, but need not, elect to make earlier payments of the amounts due for the group health plan coverage. The cost of the group health plan coverage shall be the sole responsibility of the retired teacher and spouse. However, amounts held in the retired teacher’s Separate Share of the VEBA may be used to make payments of the group health plan premiums, but only as otherwise allowed by the terms and conditions of the VEBA and the Agreement, as amended. All required payments should be made to the School Corporation’s Treasurer. 6. Therefore, this right to extend coverage shall not override any rights to continuing health care coverage as required by COBRA. The foregoing rules shall apply separately to the group medical, dental and vision insurance plans. Therefore, if a retiring teacher were only participating in the group medical insurance plan duringthe school year immediately before severance, the retiring teacher and spouse would not be eligible to elect to participate in the group dental or group vision insurance following retirement.

Post-Retirement Insurance Benefits. An individual who is employed as a teacher by the Center Grove Community School Corporation at Corporationat the time of retirement or severance from employment will be eligible for the following severance benefits provided the teacher has otherwise satisfied the requirements and conditions described below: A. Group Health Insurance Insurance‌ Immediately following severance, the teacher and his/her spouse, if any, shall have the option of remaining in the Corporation’s current group medical, dental and vision insurance plan (“Group Health Plan”) if all of the following conditions are met as of the date of severance and thereafter: 1. The teacher has attained fifty-two (52) years of age and is not eligible for Medicare; 2. The teacher was enrolled in the Corporation’s group health plan immediately before severance; 3. The teacher must have completed not less than fifteen (15) full years of service as a professional educator in the Center Grove Community School Corporation; 4. Within ninety (90) days of the severance date, the teacher provides a written request to the School Corporation for continuing insurance coverage for the teacher and spouse, if any, and; 5. While the retired teacher and spouse, if any, remain enrolled in the group health plan, the retired teacher and spouse shall pay all premiums applicable to the group health plan coverage, with monthly payments made from their Separate Share of the VEBA and/or personal funds on or before the first day of each month for which group health plan coverage is to continue. Notwithstanding the foregoing, a retired teacher may, but need not, elect to make earlier payments of the amounts due for the group health plan coverage. The cost of the group health plan coverage shall be the sole responsibility of the retired teacher and spouse. However, amounts held in the retired teacher’s Separate Share of the VEBA may be used to make payments of the group health plan premiums, but only as otherwise allowed by the terms and conditions of the VEBA and the Agreement, as amended. All required payments should be made to the School Corporation’s Treasurer. 6. Therefore, this right to extend coverage shall not override any rights to continuing health care coverage as required by COBRA. The foregoing rules shall apply separately to the group medical, dental and vision insurance plans. Therefore, if a retiring teacher were only participating in the group medical insurance plan duringthe during the school year immediately before severance, the retiring teacher and spouse would not be eligible to elect to participate in the group dental or group vision insurance following retirementfollowingretirement. B. Term Life Insurance‌ A teacher retiring on or after the attainment of age fifty-two (52) and who otherwise qualifies under an eligible class for retirement as defined by the School Corporation’s term life insurance carrier may continue to participate in the School Corporation’s term life insurance coverage program. To continue this coverage, the retired teacher must pay the entire insurance premium applicable to the term life insurance coverage at such times as reasonably determined by the School Corporation. All required payments shall be made to the School Corporation’s Treasurer and may be made from the retired teacher’s personal funds and/or Separate Share of the VEBA, but only as otherwise allowed by the terms and conditions of the VEBA and the Agreement, as amended. Eligibility ends at age 65. Employer agrees that these rights are vested and will not change at any time.

Post-Retirement Insurance Benefits. An individual who is employed as a teacher by the Center Grove Community School Corporation at the time of retirement or severance from employment will be eligible for the following severance benefits provided the teacher has otherwise satisfied the requirements and conditions described below: A. Group Health Insurance Immediately following severance, the teacher and his/her spouse, if any, shall have the option of remaining in the Corporation’s current group medical, dental and vision insurance plan (“Group Health Plan”) if all of the following conditions are met as of the date of severance and thereafter: 1. The teacher has attained fifty-two (52) years of age and is not eligible for Medicare; 2. The teacher was enrolled in the Corporation’s group health plan immediately before severance; 3. The teacher must have completed not less than fifteen (15) full years of service as a professional educator in the Center Grove Community School Corporation; 4. Within ninety (90) days of the severance date, the teacher provides a written request to the School Corporation for continuing insurance coverage for the teacher and spouse, if any, and; 5. While the retired teacher and spouse, if any, remain enrolled in the group health plan, the retired teacher and spouse shall pay all premiums applicable to the group health plan coverage, with monthly payments made from their Separate Share of the VEBA and/or personal funds on or before the first day of each month for which group health plan coverage is to continue. Notwithstanding the foregoing, a retired teacher may, but need not, elect to make earlier payments of the amounts due for the group health plan coverage. The cost of the group health plan coverage shall be the sole responsibility of the retired teacher and spouse. However, amounts held in the retired teacher’s Separate Share of the VEBA may be used to make payments of the group health plan premiums, but only as otherwise allowed by the terms and conditions of the VEBA and the Agreement, as amended. All required payments should be made to the School Corporation’s Treasurer.. When a retired teacher first becomes eligible for Medicare, the teacher’s eligibility to continue to participate in the Corporation’s group health plan shall terminate, if not earlier terminated according to applicable law (An employee’s spouse will become ineligible for health benefits when that spouse first becomes eligible for Medicare benefits). It is acknowledged that the parties intend these 6. Therefore, this right to extend coverage shall not override any rights to continuing health care coverage as required by COBRA. The foregoing rules shall apply separately to the group medical, dental and vision insurance plans. Therefore, if a retiring teacher were was only participating in the group medical insurance plan duringthe school year immediately before severance, the retiring teacher and spouse would not be eligible to elect to participate in the group dental or group vision insurance following retirementfollowingretirement.