Common use of Retiree Benefit Clause in Contracts

Retiree Benefit. (Applies to SB1, SC1, and SD1 only) Any unit member who retires from the City on or after January 1, 1987, who has ten (10) years or more of service with the City in either a full-time or part-time position, and who enrolls in a PERS PEMHCA plan shall receive for such time as he/she maintains his/her enrollment in a PEMHCA health plan the following benefit: effective January 1, 2003, the lesser of a monthly payment of four hundred twenty-five and forty-two cents ($425.42) or one hundred percent (100%) of the unit member’s PEMHCA plan premium for the unit member and one dependent computed by combining the provisions of 7.1.2 above with this benefit. These payments shall be made on a quarterly basis. The City shall provide the option of direct deposit if it becomes available for this benefit. The obligations set forth in this subsection shall be subject to the following conditions:

Retiree Benefit. (Applies to SB1, SC1, and SD1 only) Any unit member who retires from the City on or after January 1, 1987, who has ten (10) years or more of service with the City in either a full-time or part-part- time position, and who enrolls in a PERS PEMHCA plan shall receive for such time as he/she they maintains his/her their enrollment in a PEMHCA health plan the following benefit: effective January 1, 2003, the lesser of a monthly payment of four hundred twenty-five and forty-two cents ($425.42) or one hundred percent (100%) of the unit member’s PEMHCA plan premium for the unit member and one dependent computed by combining the provisions of 7.1.2 above with this benefit. These payments shall be made on a quarterly basis. The City shall provide the option of direct deposit if it becomes available for this benefit. The obligations set forth in this subsection shall be subject to the following conditions:

Retiree Benefit. (Applies to SB1, SC1, and SD1 only) Any unit member who retires from the City on or after January 1, 1987, who has ten (10) years or more of service with the City in either a full-time or part-part- time position, and who enrolls in a PERS PEMHCA plan shall receive for such time as he/she maintains his/her enrollment in a PEMHCA health plan the following benefit: effective January 1, 2003, the lesser of a monthly payment of four hundred twenty-five and forty-two cents ($425.42) or one hundred percent (100%) of the unit member’s PEMHCA plan premium for the unit member and one dependent computed by combining the provisions of 7.1.2 above with this benefit. These payments shall be made on a quarterly basis. The City shall provide the option of direct deposit if it becomes available for this benefit. The obligations set forth in this subsection shall be subject to the following conditions: