Postponed Retirement. 2115 Xxxxxx Foundation Health Plan Coverage coordinated with Medicare, Employer-paid, shall be provided to each eligible employee who retires under the Pension Plan beyond age sixty-five (65) and has fifteen (15) years or more of service with the Xxxxxx Permanente Medical Care Program and who enrolls in Parts A and B of Medicare at the time of retirement. Coverage will also be extended to the spouse or eligible domestic partner of the eligible retiree provided the spouse or eligible domestic partner enrolls in Parts A and B of Medicare at time of spouse's or eligible domestic partner’s retirement or when first eligible. Coverage shall continue for eligible dependent children until they reach limiting age. “Special dependent children” who meet the eligibility requirements described in Paragraph 2105 will receive Health Plan coverage for the lifetime of the retiree. An employee and/or spouse or eligible domestic partner who does not enroll in Parts A and B of Medicare when first eligible or at retirement, whichever is later, will not receive Retiree Health Plan Coverage. Premiums for the cost of Part B of Medicare shall be the responsibility of the retiree and/or spouse or eligible domestic partner. For employees retired prior to April 1, 1989, the Employer will reimburse the cost of Part B of Medicare on a quarterly basis. The preceding fifteen (15) year service requirement shall apply to employees hired on or after April 1, 1985.
Postponed Retirement. Termination of employment after the sixty-fifth (65th) birthday of an employee who has had ten (10) years of employment as a Regular employee as of their sixty-fifth (65th) birthday.
Postponed Retirement. Members who choose to work beyond the NRD are required to continue the full scope of their normal duties and will continue to be covered by all articles in this collective agreement except where specific requirements have been specified for those working beyond the NRD.
(A) They will continue to make and receive pension contributions until they are required by law to commence receiving a pension prior to their actual retirement date (i.e., currently the December 1 of the year in which the member attains age 71). They will not be entitled to commence receiving a pension prior to their actual retirement date (which shall be June 30) unless required by law to commence receiving a pension prior to their actual retirement date (i.e., currently the December 1 of the year in which the member attains age 71).
(B) Life Insurance Benefits will continue to be in effect until the member’s actual retirement date or, if earlier, the date upon which the member begins to receive his or her pension as required under the Income Tax Regulations (currently the December 1 of the year in which the member attains age 71).
(C) Long-term disability benefits will be payable only up to the member’s irrevocable retirement date, or, if earlier, the NRD. Notice requirements pertaining to retirement (34.01.01) will be waived for members who meet the requirement for long-term disability but who are not eligible for long-term disability benefits because they are working beyond the NRD.
(D) Retired members will be entitled to purchase retiree life insurance and health benefits but the members shall bear the normal cost of such coverage.
(E) Other retiree benefits will also be available to retired members provided the member bears the normal cost of such benefits.
Postponed Retirement. A member's retirement may be postponed beyond his normal retirement date, on a year-to-year basis, but only with the consent of the Company and in no event beyond his seventieth (70th) birthday. In such event, the member's required contributions to the Plan will cease at his normal retirement date and his retirement income benefits at his actual retirement date will be actuarially increased from the benefits otherwise payable at his normal retirement date.
Postponed Retirement. If a Member continues in the employ of the Company beyond Normal Retirement Date, the Member shall retire, or be deemed to have retired for the purposes of the Retirement Agreement, not later than the first (1st) day of the month immediately prior to the Member's attainment of age sixty-nine (69). The date of the Member's actual retirement in accordance with this paragraph shall be his Postponed Retirement Date.
Postponed Retirement. (i) The Board may, at its discretion and with the approval or request of a unit invite Members to postpone retirement beyond the normal retirement date. Such postponement shall be on a year by year basis, except that the postponement of the start of the retirement annuity may not be continued past the Member's seventy-first birthday.
(ii) If Members elect to continue their contributions to their Money Purchase Account after the normal retirement date, the Employer will also continue its contribution to that account on the Member's behalf. However, no employee or employer contributions will be made after the Member's seventy-first birthday. A postponed retirement shall be on a year by year basis whether full-time or part-time, except that the postponement of the start of the retirement annuity may not be continued past the Member's seventy-first birthday. Members who postpone their retirement will receive an actuarially increased annuity.
Postponed Retirement. A Member retiring on a Postponed Retirement Date shall be entitled to receive an amount of retirement income payable from the Member's Postponed Retirement Date and computed in accordance with Section 6.01 using the Member's Postponed Retirement Date as his Date of Determination.
Postponed Retirement. The Board of Directors in the exercise of their sole discretion may elect to increase any benefits payable to the Executive if retirement is postponed past the Normal Retirement Date.
Postponed Retirement. If the Executive Retires from the Corporation after attaining age 65, the Executive shall continue to accrue benefits under this Agreement until his actual Retirement date and shall receive the supplemental retirement benefits as described in paragraph 4.
Postponed Retirement. 2943 Postponed retirement is established when an employee retires beyond age sixty-five (65).
