Common use of Retiree Fringe Benefits—Unequal Contribution Method Clause in Contracts

Retiree Fringe Benefits—Unequal Contribution Method. i. Unit members who retire from active service under the STRS/PERS shall be entitled to receive the basic Office retiree medical contribution of $21.60 per month twelfthly ($259.20 annually), or as adjusted by law, toward the purchase of a PERS medical benefit so long as the Office continues to participate in the PERS retirement plan, pursuant to Government Code Section 22892(c). Upon termination of the Office’s participation in the PERS medical insurance plan or its successor, the Office shall have no further obligation for payment of the retiree’s medical contribution, but will offer the retiree the option to continue, at his/her own expense, in the subsequent medical insurance plan. Termination of the Office’s participation in the PERS medical insurance plan or its successor shall not affect the ability of eligible retirees to elect to participate in the retiree Years of Service Benefit Program as set forth below. ii. In addition, the Office shall annually provide a Years of Service Benefit for eligible retirees based upon years of service. The Benefit may be used for additional benefits coverage. The maximum period of coverage for the Years of Service Benefit shall be for five (5) years. Coverage shall terminate at the end of five (5) years or when the retiree attains age sixty-five (65) or when the retiree becomes eligible for Medicare coverage, whichever occurs first. iii. Amount of Years of Service Benefit: • Retirees, ages 55 to 65 with ten (10) years of service with the Office—$2,744.80 • Retirees, ages 55 to 65 with twenty (20) years of service with the Office—$5,740.80 iv. For individuals who retire after the dates specified in the collective bargaining agreements or LACOE Board Regulations, the amount of $3,004.00 for ten years of service or $6,000.00 for 20 years of service, may be paid directly to a certified medical insurer, other than PERS, selected by the retiree. If the medical insurance premium is less than the eligible amount, the Office will pay no more than the total cost of the premium. v. If the amount of the Office contribution that is required by state or federal law is increased, the amount of the Years of Service Benefit to be paid by the Office shall be reduced in a like amount, unless otherwise negotiated by the parties.

Retiree Fringe Benefits—Unequal Contribution Method. i. 1) Unit members who retire from active service under the STRS/PERS shall be entitled to receive the basic Office retiree medical contribution of $21.60 per month twelfthly ($259.20 annually), or as adjusted by law, toward the purchase of a PERS medical benefit so long as the Office continues to participate in the PERS retirement plan, pursuant to Government Code Section 22892(c). Upon termination of the Office’s participation in the PERS medical insurance plan or its successor, the Office shall have no further obligation for payment of the retiree’s medical contribution, but will offer the retiree the option to continue, at his/her own expense, in the subsequent medical insurance plan. Termination of the Office’s participation in the PERS medical insurance plan or its successor shall not affect the ability of eligible retirees to elect to participate in the retiree Years of Service Benefit Program as set forth below. ii. 2) In addition, the Office shall annually provide a Years of Service Benefit for eligible retirees based upon years of service. The Benefit may be used for additional benefits coverage. The maximum period of coverage for the Years of Service Benefit shall be for five (5) years. Coverage shall terminate at the end of five (5) years or when the retiree attains age sixty-five (65) or when the retiree becomes eligible for Medicare coverage, whichever occurs first. iii. 3) Amount of Years of Service Benefit: • Retirees, ages 55 to 65 with ten (10) years of service with the Office—$2,744.80 Office— $2,744.80 • Retirees, ages 55 to 65 with twenty (20) years of service with the Office—$5,740.80Office— $5,740.80 iv. 4) For individuals who retire after the dates specified in the collective bargaining agreements or LACOE Board Regulations, the amount of $3,004.00 for ten years of service or $6,000.00 for 20 years of service, may be paid directly to a certified medical insurer, other than PERS, selected by the retiree. If the medical insurance premium is less than the eligible amount, the Office will pay no more than the total cost of the premium. v. 5) If the amount of the Office contribution that is required by state or federal law is increased, the amount of the Years of Service Benefit to be paid by the Office shall be reduced in a like amount, unless otherwise negotiated by the parties.

Retiree Fringe Benefits—Unequal Contribution Method. i. 1) Unit members who retire from active service under the STRS/PERS shall be entitled to receive the basic Office retiree medical contribution of $21.60 per month twelfthly ($259.20 annually), or as adjusted by law, toward the purchase of a PERS medical benefit so long as the Office continues to participate in the PERS retirement plan, pursuant to Government Code Section 22892(c). Upon termination of the Office’s participation in the PERS medical insurance plan or its successor, the Office shall have no further obligation for payment of the retiree’s medical contribution, but will offer the retiree the option to continue, at his/her own expense, in the subsequent medical insurance plan. Termination of the Office’s participation in the PERS medical insurance plan or its successor shall not affect the ability of eligible retirees to elect to participate in the retiree Years of Service Benefit Program as set forth below. ii. 2) In addition, the Office shall annually provide a Years of Service Benefit for eligible retirees based upon years of service. The Benefit may be used for additional benefits coverage. The maximum period of coverage for the Years of Service Benefit shall be for five (5) years. Coverage shall terminate at the end of five (5) years or when the retiree attains age sixty-five (65) or when the retiree becomes eligible for Medicare coverage, whichever occurs first. iii. 3) Amount of Years of Service Benefit: • Retirees, ages 55 to 65 with ten (10) years of service with the Office—$2,744.80 Office— $2,744.80 • Retirees, ages 55 to 65 with twenty (20) years of service with the Office—$5,740.80Office— $5,740.80 iv. 4) For individuals who retire after the dates specified in the collective bargaining agreements or LACOE XXXXX Board Regulations, the amount of $3,004.00 for ten years of service or $6,000.00 for 20 years of service, may be paid directly to a certified medical insurer, other than PERS, selected by the retiree. If the medical insurance premium is less than the eligible amount, the Office will pay no more than the total cost of the premium. v. 5) If the amount of the Office contribution that is required by state or federal law is increased, the amount of the Years of Service Benefit to be paid by the Office shall be reduced in a like amount, unless otherwise negotiated by the parties.