Common use of Retiree Health Coverage Clause in Contracts

Retiree Health Coverage. Fire Series employees who retire on or after February 1, 2006 will pay 70% of the monthly contribution rate for medical coverage for themselves and for their eligible spouse; and the City will contribute 30% of said costs, for so long as timely and continuous monthly premium payments are made by or on behalf of the eligible retiree and/or by their eligible spouse. Medical plan benefit coverage for retirees and eligible spouses will be effective until they reach the age of 65. The monthly costs shall be 102% of the established insurance premium contribution rates, and such rates are subject to change. (Resolution 16-2006 and Resolution 116- 2002) Rates will be reviewed annually by the City beginning in April of each year and adjusted on the first day of July each year, or as soon thereafter as possible, according to the actuarially established contribution rates, and consistent with the percentage rates outlined above. (Resolution 16-2006) For current retiree health rates, please contact the Human Resources office or review the Employee Pay and Benefit Plan. Retired employees are eligible to purchase the City’s Employee Medical, Dental and/or Vision Plan benefits for themselves and their spouse, provided the spouse was covered under each of the Benefits Plan proposed to be purchased for not less than thirty (30) days immediately prior to the employee’s retirement date (Resolution 85-97) Holidays