Common use of Retired Employee Benefits Package Clause in Contracts

Retired Employee Benefits Package. 7.4.3.1 The Board Retired Employee Benefit package is available to all eligible employees covered by this agreement. 7.4.3.2 Teachers who have reached fifty-five (55) years of age, but have not as yet reached sixty-five (65) years of age, and have at least ten (10) years of service with the Board, shall at the time of retirement, be provided with the option to participate in the Board Retired Employee Benefit Package. 7.4.3.3 The package includes supplementary health care, dental coverage and life insurance coverage until the employee reaches the age of sixty-five (65) and may include, at the employee’s option, a paid up life insurance policy issued following the employee’s 65th birthday. 7.4.3.4 The cost sharing of the premiums for this package, at the time of retirement until age 65, for employees who retire on or after September 1, 2009, is as follows: 7.4.3.5 Notwithstanding the term of this agreement stated in Clause 2.1, the provisions of this Clause are intended to remain in force beyond the expiry of the collective agreement.

Retired Employee Benefits Package. 7.4.3.1 The Board School Division Retired Employee Benefit package is available to all eligible employees covered by this agreement. 7.4.3.2 Teachers who have reached fifty-five (55) years of age, but have not as yet reached sixty-five (65) years of age, and have at least ten (10) years of service with the BoardSchool Division, shall at the time of retirement, be provided with the option to participate in the Board School Division Retired Employee Benefit Package. 7.4.3.3 The package includes supplementary health care, dental coverage and life insurance coverage until the employee reaches the age of sixty-five (65) and may include, at the employee’s option, a paid up life insurance policy issued following the employee’s 65th birthday. 7.4.3.4 The cost sharing of the premiums for this package, at the time of retirement until age 65, for employees who retire on or after September 1, 2009, is as follows: 7.4.3.5 Notwithstanding the term of this agreement stated in Clause 2.1, the provisions of this Clause are intended to remain in force beyond the expiry of the collective agreement.