Common use of Pre-65 Retirement Medical Insurance Clause in Contracts

Pre-65 Retirement Medical Insurance. i. A faculty member whose qualifying years for retirement have been in Benefit Groups A, B, C or D may retire from the University prior to age 65 (Medicare eligibility), and elect to receive medical insurance coverage through the same plan offered to active bargaining unit members, provided that by June 30, 2014, such faculty member has met the retirement eligibility criteria that were in place when he or she was hired. ii. If such faculty member meets eligibility as defined in (b) (1) (a) above but retires after June 30, 2014, he/she shall pay a premium contribution in accordance with the following table: Table 1: Base Salary at retirement Premium Contribution Less than $90,000 20% $90,000-99,999 22% $100,000-109,999 24% $110,000-119,999 26% $120,000-129,999 27% $130,000-139,999 28% $140,000-149,999 29% $150,000 + 30% When such faculty member reaches age 65, he/she 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 under Table 1 above. (b) A faculty member who, by June 30, 2014, has not met the retirement eligibility criteria that were in place when he or she was hired will not be eligible for any retiree medical benefits prior to age 65. However, he/she will be eligible for the Medicare Supplement Plan when he/she reaches 65 and will pay premiums in accordance with the Post-65 Medicare Supplement Chart shown in Appendix C. i. Exception #1: Current faculty as of ratification of this Agreement who were not grandfathered under Section (b) (1) (a) above, but who nonetheless have fifteen

Pre-65 Retirement Medical Insurance. i. A faculty member whose qualifying years for retirement have been in Benefit Groups A, B, C or D may retire from the University prior to age 65 (Medicare eligibility), and elect to receive medical insurance coverage through the same plan offered to active bargaining unit members, provided that by June 30, 2014, such faculty member has met the retirement eligibility criteria that were in place when he or she was hired. ii. If such faculty member meets eligibility as defined in (b) (1) (a) above but retires after June 30, 2014, he/she shall pay a premium contribution in accordance with the following table: Table 1: Base Salary at retirement Premium Contribution Less than $90,000 20% $90,000-99,999 22% $100,000-109,999 24% $110,000-119,999 26% $120,000-129,999 27% $130,000-139,999 28% $140,000-149,999 29% $150,000 + 30% When such faculty member reaches age 65, he/she 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 under Table 1 above. (b) A faculty member who, by June 30, 2014, has not met the retirement eligibility criteria that were in place when he or she was hired will not be eligible for any retiree medical benefits prior to age 65. However, he/she will be eligible for the Medicare Supplement Plan when he/she reaches 65 and will pay premiums in accordance with the Post-65 Medicare Supplement Chart shown in Appendix C. i. Exception #1: Current faculty as of ratification of this Agreement who were not grandfathered under Section (b) (1) (a) above, but who nonetheless have fifteen

Pre-65 Retirement Medical Insurance. i. a. A faculty member whose qualifying years for retirement have been in Benefit Groups A, B, B or C or D may retire from the University prior to age 65 (Medicare eligibility), and may elect to receive medical insurance coverage through the same plan offered to active bargaining bar- gaining unit members, provided that by June 30, 2014, such faculty member has met the retirement eligibility criteria that were in place when he or she was hired. i. If such faculty member retires by June 30, 2014, he/she will pay 20% of the premium for such coverage. When such faculty member reaches age 65, he/she will no longer be eligible for the active plan but may then obtain the post-65 Medicare Supplement Plan and must pay 20% of the premium. ii. If such faculty member meets eligibility as defined in (b) b (1) (a) above but retires after June 30, 2014, he/she shall pay a premium contribution in accordance with the following table: Table 1: Base Salary at retirement Premium Contribution Less than $90,000 20% $90,000-99,999 22% $100,000-109,999 24% $110,000-119,999 26% $120,000-129,999 27% $130,000-139,999 28% $140,000-149,999 29% $150,000 + 30% When such faculty member reaches age 65, he/she 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 under Table 1 above. (b) b. A faculty member who, by June 30, 2014, has not met the retirement eligibility criteria that were in place when he or she was hired will not be eligible for any retiree medical benefits prior to age 65. However, he/she will be eligible for the Medicare Supplement Plan when he/she reaches 65 and will pay premiums in accordance with the Post-65 Medicare Med- icare Supplement Chart shown in Appendix C. i. Exception #1: Current faculty as of ratification of this Agreement who were not grandfathered under Section (b) b (1) (a) above, but who nonetheless have fifteen