Common use of Post-Retirement Medical Benefits Clause in Contracts

Post-Retirement Medical Benefits. Employees who, by June 30, 2014, meet the post-retirement medical benefit eligibility criteria in place on their date of hire, but do NOT retire on or before June 30, 2014, will be eligible to participate in the University’s post-retirement medical benefit when they do retire, and their premium contribution will be based on their age as follows: those with pre-65 coverage will pay the percentage of premium indicated in Appendix G of this Agreement; and those with post-65 coverage will pay the percentage of premium indicated in Appendix of this Agreement. • Employees who were hired on or before December 31, 2011 who do NOT meet the post- retirement medical benefit eligibility criteria in place on their date of hire by June 30, 2014, will be eligible, when they reach age 65 and 15 years of benefits-eligible service, to participate in the University’s post-retirement Medicare Supplement Plan at the premium contribution percentage indicated in Appendix H. These staff may participate in the University’s post-retirement medical benefit prior to age 65, but they will be responsible for 100% of the premium. When such employees then reach age 65, they will no longer be eligible for the active plan but may obtain the post-65 Medicare Supplement Plan and will be responsible for 100% of the premium. • Employees who, by June 30, 2014, do NOT meet the post-retirement medical benefit eligibility criteria in place on their date of hire, but will have reached 15 years of benefits-eligible service by June 30, 2014, will be eligible for the University’s post-retirement medical benefit when they reach age 62 and they will be responsible for 50% of the premium. When such employees reach age 65, they will no longer be eligible for the active plan but may obtain the post-65 Medicare Supplement Plan and must pay the percentage of contribution indicated in Appendix H. • Employees who are hired on or after January 1, 2012 will be able to participate in the University’s post-retirement medical benefit when they reach age 65 and 15 years of benefits-eligible service, but they will be responsible for 100% of the premium. These new employees will be eligible for a Retiree Health Savings Plan (RHSP), which (after one year of service) will include an annual contribution from the University of $1,150 per year. Such benefits are available to the employees and to their dependents who are covered as of the date of the employee’s retirement. For the life of the contract, coverage will be the same as that provided to active employees until the employees or their dependents become eligible for Medicare. If coverage for active employees changes, the coverage for the retired employees will also change in the same manner.

Post-Retirement Medical Benefits.  Employees who, by June 30, 2014, meet the post-retirement medical benefit eligibility criteria in place on their date of hire, but do NOT retire on or before June 30, 2014, will be eligible to participate in the University’s post-retirement medical benefit when they do retire, and their premium contribution will be based on their age as follows: those with pre-65 coverage will pay the percentage of premium indicated in Appendix G of this Agreement; and those with post-65 coverage will pay the percentage of premium indicated in Appendix of this Agreement. •  Employees who were hired on or before December 31, 2011 who do NOT meet the post- retirement medical benefit eligibility criteria in place on their date of hire by June 30, 2014, will be eligible, when they reach age 65 and 15 years of benefits-eligible service, to participate in the University’s post-retirement Medicare Supplement Plan at the premium contribution percentage indicated in Appendix H. These staff may participate in the University’s post-retirement medical benefit prior to age 65, but they will be responsible for 100% of the premium. When such employees then reach age 65, they will no longer be eligible for the active plan but may obtain the post-65 Medicare Supplement Plan and will be responsible for 100% of the premium. •  Employees who, by June 30, 2014, do NOT meet the post-retirement medical benefit eligibility criteria in place on their date of hire, but will have reached 15 years of benefits-eligible service by June 30, 2014, will be eligible for the University’s post-retirement medical benefit when they reach age 62 and they will be responsible for 50% of the premium. When such employees reach age 65, they will no longer be eligible for the active plan but may obtain the post-65 Medicare Supplement Plan and must pay the percentage of contribution indicated in Appendix H. •  Employees who are hired on or after January 1, 2012 will be able to participate in the University’s post-retirement medical benefit when they reach age 65 and 15 years of benefits-eligible service, but they will be responsible for 100% of the premium. These new employees will be eligible for a Retiree Health Savings Plan (RHSP), which (after one year of service) will include an annual contribution from the University of $1,150 per year. Such benefits are available to the employees and to their dependents who are covered as of the date of the employee’s retirement. For the life of the contract, coverage will be the same as that provided to active employees until the employees or their dependents become eligible for Medicare. If coverage for active employees changes, the coverage for the retired employees will also change in the same manner.