RETIRED EMPLOYEES’ MEDICAL PROGRAM Sample Clauses

RETIRED EMPLOYEES’ MEDICAL PROGRAM. The City shall continue to provide life and medical insurance for retired employees of the City as defined in Council Policy 300-1 (Appendix D) for employees hired before January 2, 2004. . Employees hired after January 1, 2004 who have funds on deposit in the Retirement Health Savings plan (contributions to which have been suspended) will maintain those funds.
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RETIRED EMPLOYEES’ MEDICAL PROGRAM. As to unit employees hired prior to January 1, 2004, Tthe City shall continue to provide life and medical insurance for retired employees of the City as defined in Council Policy 300-1. Employees hired after January 1, 2004 will participate in the mandatory Retirement Health Savings defined contribution plan and are not eligible for the Retired Employees’ Medical Program. The purpose of the Defined Contribution Retirement Health Savings Plan (Plan) is to establish a tax protected savings program for every full-time employee that will: Provide a retiree medical benefit for employees hired after January 1, 2004 who will not be eligible for the health insurance contribution under the Council Policy 300-1. Provide a supplemental benefit to the City contribution under Council Policy 300-1 for current employees (hired before January 1, 2004). The program will require mandatory participation by all full-time employees. Employees will make a monthly contribution to the plan equal to 1% of their base monthly salary, which will be matched by a 1% salary monthly contribution from the City into employees’ accounts. The account assets that accumulate, plus investment earnings, will be used in retirement to pay health insurance premiums and other eligible out-of-pocket medical expenses such as deductibles, co-payments, vision care or dental care. Employee contributions plus vested employer contributions will be portable if an employee should leave employment with Costa Mesa prior to retirement.Those employees hired prior to January 1, 2004 will participate in the retiree life and medical insurance programs as defined in City Council Policy 300-1.
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RETIRED EMPLOYEES’ MEDICAL PROGRAM. The City shall continue to provide life and medical insurance for retired employees of the City as defined in Council Policy 300-1 (Appendix D). Employees hired after January 1, 2004 will participate in the mandatory Retirement Health Savings defined contribution plan and are not eligible for the Retired Employees’ Medical Program. The purpose of the Defined Contribution Retirement Health Savings Plan (Plan) is to establish a tax protected savings program for every full-time employee that will: • Provide a retiree medical benefit for employees hired after January 1, 2004 who will not be eligible for the health insurance contribution under the Council Policy 300-1. • Provide a supplemental benefit to the City contribution under Council Policy 300-1 for current employees (hired before January 1, 2004). The program will require mandatory participation by all full-time employees. Employees will make a monthly contribution to the plan equal to 1% of their base monthly salary, which will be matched by a 1% salary monthly contribution from the City into employees’ accounts. The account assets that accumulate, plus investment earnings, will be used in retirement to pay health insurance premiums and other eligible out-of-pocket medical expenses such as deductibles, co-payments, vision care or dental care. Employee contributions plus vested employer contributions will be portable if an employee should leave employment with Costa Mesa prior to retirement. Effective August 16, 2009, the City will suspend the Plan including the suspension of both the 1% contribution by the employee and the 1% City contribution for 26 payperiods. During the suspension, CMFA agrees to apply the 1% employee contribution (that would otherwise have been returned to the employee) towards the cost of the 3%@50 CalPERS retirement benefit per Section 6.1. If the City and Employee Associations mutually agree to continue the suspension longer than 26 payperiods, CMFA agrees to continue applying the 1% employee contribution towards the cost of the 3%@50 CalPERS retirement benefit for the term of the suspension.
Sample 1

Related to RETIRED EMPLOYEES’ MEDICAL PROGRAM

  • Rehired Employees Amounts forfeited upon termination of employment because of the failure to meet the applicable vesting requirements shall not be reinstated or re-credited if an individual is subsequently rehired or re-employed by the School Corporation after December 31, 2003. However, if the Board shall have approved a leave of absence of not more than one (1) fiscal year for an employee, such period of leave shall not result in forfeiture provided the employee shall promptly return to employment following the expiration of an approved period of leave

  • Newly Hired Employees All employees hired to an insurance eligible position must make their benefit elections by their initial effective date of coverage as defined in this Article, Section 5C. Insurance eligible employees will automatically be enrolled in basic life coverage. If employees eligible for a full Employer Contribution do not choose a health plan administrator and a primary care clinic by their initial effective date, and do not waive medical coverage, they will be enrolled in a Benefit Level Two clinic (or Level One, if available) that meets established access standards in the health plan with the largest number of Benefit Level One and Two clinics in the county of the employee’s residence at the beginning of the insurance year. If an employee does not choose a health plan administrator and primary care clinic by their initial effective date, but was previously covered as a dependent immediately prior to their initial effective date, they will be defaulted to the plan administrator and primary care clinic in which they were previously enrolled.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Supervisory Employees For the purposes of this Article, the parties agree that Supervisory positions are those that are not excluded under Article 2.0 above and that satisfy the following criteria:

  • Shift Employees Employees who work rotating shift patterns or those who work qualifying shifts shall be entitled, on completion of 12 months employment on shift work, to up to an additional 5 days annual leave, based on the number of qualifying shifts worked. The entitlement will be calculated on the annual leave anniversary date. Qualifying shifts are defined as a shift which involves at least 2 hours work performed outside the hours of 8.00am to 5.00pm, excluding overtime. Number of qualifying shifts per annum Number of days additional leave per annum 121 or more 5 days 96 – 120 4 days 71 – 95 3 days 46 – 70 2 days 21 – 45 1 day

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

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