Retiree Health Benefit. This Article does not apply for employees who elect the PERS service credit.
A) Employees hired after January 1, 1999, who have 5 years of Kings County continuous service immediately prior to retirement, are age 50 or older, and retire in good standing at the time of their separation from Kings County employment will receive a percentage of the dollar value of accrued sick leave (at time of retirement) put into an “account” to be used toward Kings County health insurance premiums, at a rate not to exceed the family option per month until the employee, and/or spouse if covered, is eligible for Medicare or the money runs out, whichever occurs first. When an employee and/or spouse, if covered, reach Medicare eligibility the remaining money may be used for Medicare supplemental premiums until the money runs out. The retiree health benefit percentage shall be as follows: Percent of compensation Service (based on hours) Hours Retiree Health Benefit 20,801 - 31,200 25% 31,201 - 41,600 35% 41,601 and over 45% To qualify for the retiree health benefit the employee and any dependents to be covered must be enrolled in the County’s existing health benefit plan at the time of the employee’s retirement from County service. Retiree health benefit payments may be used toward coverage for the employee’s dependents only as long as the dependent(s) is eligible for coverage under the plan, has not reached Medicare eligibility and, in the case of children, only to the age permitted under the plan contract as dependent children. If the employee dies after retirement (or while still employed in good standing) prior to Medicare eligibility and there is money remaining in the account, the employee’s covered dependent(s) may continue to use the account toward Kings County health insurance premiums or Medicare supplemental insurance premiums, if eligible as stated above. Any unused balance in the account remains the property of the County.
B) Employees hired prior to January 1, 1999, who separate in good standing shall be allowed a one time irrevocable election to decide whether to receive the retiree health benefit option (if eligible) or cash as follows: Percent of Percent of compensation compensation Service (based on hrs) (based on hrs) Hours Cash OR Retiree Health Benefit 10,401 - 41,600 25% 40% 41,601 and over 30% 50% Taxes will be paid by the employee on the full cash distribution, or the portion of the deposit into the account that could have been taken in cash. Additionally...
Retiree Health Benefit. 1. Teachers who retire after completing the contract year will continue to have insurance coverage and existing Board contributions through the last day of July if they meet the following conditions:
a) The teacher has twenty (20) years of service in the Corporation;
b) The teacher retires after reaching fifty-five (55) years of age;
c) The teacher has not reached the age of sixty-five (65) before July 31 of the year of retirement; and,
d) The teacher submits a letter to the Superintendent's Office by May 1 stating that the teacher is retiring. A teacher who does not meet the May 1 deadline, but meets all of the other retirement requirements above, shall have insurance coverage and existing Board contributions through the last day of June. A teacher who retires before the contract year is complete shall have insurance coverage and existing Board contributions through the end of the month in which the teacher last worked.
2. In addition to the benefit in number 1 above, teachers who have over 20 years of service to the School Corporation on July 1, 2012, will qualify for a health insurance benefit at the time they retire. The Board will pay a contribution toward group health insurance premiums for single health care coverage for the employee only, beginning the first month following retirement and ending the month in which the employee reaches sixty-five (65) years of age, provided that the employee elects to receive this benefit. A teacher who retires before reaching fifty-five (55) years of age or after sixty-five (65) years of age will receive no Board contribution toward payment of the premium for group health coverage at any time following retirement from the School Corporation. The contribution for teachers who qualify for this benefit will be subject to the following limitations: 30 or more years of service to the Corporation on July 1, 2012 $22,000.00 25-29 years of service to the Corporation on July 1, 2012 $13,000.00 20-24 years of service to the Corporation on July 1, 2012 $6,300.00
3. The School Corporation will make an additional matching contribution of up to 1.00% (see Appendix V) of the teacher’s annual base salary to all teachers to help with future healthcare costs. The Corporation’s contributions will be placed in a 401(a) account on a per-pay basis.
4. In addition, any teacher enrolled in the health insurance plan at the time of retirement may continue coverage in the group health insurance plan during retirement at their cost until the ...
Retiree Health Benefit. X. Xxxxxxxxx covered by this MOU, who retire from the City of National City after July 1, 2002 and before July 1, 2014, and who retire with at least 20 full years of service under the CalPERS Retirement System shall receive $5/month for each year of PERS Service with the City as the City’s contribution towards their medical insurance premium. This contribution shall continue until the retiree qualifies for Medicare.
B. Effective July 1, 2014, employees covered by this MOU must retire from the City of National City and have 20 full years of pensionable service credit with the City of National City to receive $10/month for each year of pensionable service with the City as the City’s contribution towards their medical premium. Effective for persons retiring after this 2018-2020 MOU is approved by the City Council, employees covered by this MOU must retire from the City of National City and have 20 full years of pensionable service credit with the City of National City to receive $20/month for each year of pensionable service with the City as the City’s contribution towards their medical premium. This contribution does not entitle the retiree to any particular insurance or to any particular rate. A qualifying retiree may receive these contributions even if not enrolled in a City health plan, so long as the retiree annually provides the City with written proof (e.g. copy of health insurance invoice and payment) that the retiree is using the contributions to pay for health premiums and understands that the retiree is solely responsible for any taxes that might be due as a result of the City’s contribution. Retirees eligible for this benefit are responsible for paying the health insurance premium and the City will forward this benefit amount on a monthly basis directly to the retiree. This benefit will be canceled upon non-payment of premium or otherwise becoming ineligible. The retiree is also responsible for notification to the City of address change and health coverage from another source.
Retiree Health Benefit.
(a) The City of Lincoln shall ensure the current health care benefit of one hundred percent (100%) cost of benefit for employees (and family members where applicable) hired prior to January 1, 1998, and who retire from the City of Lincoln, be maintained. Employees hired after January 1, 1998, and who retire from the City of Lincoln, shall vest in the life time retiree medical health benefits as provided in Government Code Section 22893.
Retiree Health Benefit. The District will continue to offer eligible retirees health benefits pursuant to Governing Board Policy 4254.
Retiree Health Benefit. For Employees Hired Before July 1, 2005
a. Definition Of Health Eligible Retiree
b. The City agrees to indemnify and hold the Union harmless from and against any claims filed by or on behalf of employees in the Union related to the clarification of the definition of a Health Eligible Retiree as set forth in subsection B 1.a.above.
Retiree Health Benefit for Spouses and Dependents of Members Killed In The Line of Duty. There will be no change in the benefit provisions applicable to spouses or dependents under age 21 of a City employee Member killed in the line of duty as set forth in Municipal Code section 24.1201(f)(11).
Retiree Health Benefit. (a) Employees Hired On or Before June 7, 2011:
Retiree Health Benefit. (i) Eligibility for benefits under ¶ 8(b) is dependent upon the Superintendent retiring from the District into the NYS TRS upon completion of at least five (5) years of service in the District.
(ii) Until her 65th birthday, the Superintendent will receive health insurance coverage in any plan available to actively employed administrators in the District (hired on or after 1-1-14) at either the 85/15 contribution structure contained herein or at the same contribution rate that active administrators in the District pay, whichever is greater. If the Superintendent elects not to enroll in the health insurance coverage set forth in this paragraph and provides proof of alternate insurance coverage through non-District means, she shall receive an annual payment of Two Thousand Dollars ($2,000).
(iii) When the Superintendent reaches age 65, the District will make an annual
(iv) The retiree health benefits as outlined in Paragraphs 8(b)(i) — (iii) will continue until the Superintendent's death. In the event the Superintendent predeceases her spouse, the spouse will be afforded the benefits outlined in 18(b) for a period of 24 months. At the end of the 24 month period, the surviving spouse may continue health insurance coverage within the District's group at her own expense.
(v) Eligibility for retiree health insurance from the District for the Superintendent and her spouse will be suspended upon the Superintendent accepting a position for which health insurance benefits are available as a regular benefit for the position when it is filled on a regular or permanent basis.
Retiree Health Benefit. 1. Effective July 1, 2011, all Unit members who are members of LACERS shall contribute an additional two percent (2%) of their pre-tax compensation to defray a portion of the City’s cost of providing retiree health insurance, thereby resulting in a total employee retirement contribution flat rate of nine percent (9%).
2. Effective January 1, 2013, all Unit members who are members of LACERS shall contribute an additional two percent (2%) of their pre-tax compensation, thereby increasing the employee contribution to defray a portion of the City’s cost of providing retiree health insurance to a total of four percent (4%). Effective January 1, 2013, the total employee retirement contribution flat rate shall be eleven percent (11%) and shall be subject to modification pursuant to future MOU negotiations in accordance with applicable Charter provisions.
3. As of April 2011 there is a retiree health benefit for employees provided under Division 4, Chapter 11, Article 3 of the Los Angeles Administrative Code (LAAC). Commencing on the effective date of this MOU, the parties agree that the retiree health benefit available under this program is a vested benefit for Unit members. Specifically, the parties agree that the current Maximum Medical Plan Premium Subsidy of $1,190 per month, which represents the Kaiser two-party non- Medicare Part A and Part B premium, is vested. Additionally, the maximum amount of the annual increase authorized in LAAC Section 4.1103.4 shall be granted and is vested. The entitlement to retiree health benefits under this provision shall be subject to the rules under Division 4, Chapter 11 of the LAAC in effect as of the effective date of this provision.
4. The parties further agree that as a condition of vesting the Maximum Medical Plan Premium authorized by the LAAC, the amount of employee contributions is subject to bargaining in future MOU negotiations in accordance with applicable Charter provisions.