Common use of Retired Employee Benefits Clause in Contracts

Retired Employee Benefits. The Company agrees to provide, effective the 1st of the month following ratification of a new Joint Labour Agreement and for the continuous period through to and including three months following the expiration of that agreement, for employees who have previously retired from active service or who will retire from active service in Local 2, P.P.W.C. at Crofton, the following coverage for them and their spouse and eligible dependents at retirement. a) Full premium payment for the B.C. Medical Plan. It is understood that the employee may be eligible for a premium subsidy if qualified. b) Full premium payment for the basic Extended Health Benefits Plan. The Retiree Extended Health Benefits Lifetime maximum is $30,000.

Retired Employee Benefits. The Company agrees to provide, effective the 1st of the month following ratification ratification of a new Joint Labour Agreement and for the continuous period through to and including three months following the expiration of that agreement, for employees who have previously retired from active service or who will retire from active service in Local 2, P.P.W.C. at Crofton, the following coverage for them and their spouse and eligible dependents at retirement.: a) Full premium payment for the B.C. Medical Plan. It is understood that the employee may be eligible for a premium subsidy if qualifiedqualified. b) Full premium payment for the basic Extended Health Benefits Benefits Plan. The Retiree Extended Health Benefits Benefits Lifetime maximum is $30,000.