Retiree Health Plan a. Employees Hired Prior to January 1, 2004 Monthly City-paid premium contributions for a retiree-selected health plan through the CalPERS Health Benefits Program will be made as provided under the Public Employees' Medical and Hospital Care Act. The City's contribution for an employee hired before January 1, 2004 and whose retirement date is on or after May 1, 2011 shall be the same contribution amount it makes from time to time for active City employees.
b. Post - 1/1/04 Hires Government Code section 22893 applies to those Unit members hired after January I, 2004, and provides that, upon retirement from the City an employee is eligible for 50% of the specified employer health premium contribution after ten (10) years of service credit, provided at least five of those years were performed at the City of Palo Alto. After ten years of service credit, each additional service credit year increases the employer contribution percentage by 5% until, at twenty (20) years' service credit; the employee will be eligible upon retirement for 100% of the specified employer contribution and 90% of the contribution for their dependent coverage. The City of Palo Alto's health premium contribution for eligible post - 1/1/04 hires shall be the minimum contribution set by PERS under section Government Code section 22893.
c. For employees hired prior to January 1, 2004 who wish to opt in to Government code section 22893. The City will offer a 90 calendar day period following adoption of this agreement by Council, in which employees hired prior to January 1, 2004 will have the opportunity to opt in to Government code section 22893.
Retiree Health Plan. Pursuant to its collective bargaining agreement with GCIU Local 663, the Seller provides certain employees who were on its payroll as of July 31, 1998, and who retire between the ages of 62 and 65 (“Early Retiree Eligible Employees”) with the option of continuing coverage under its health and welfare program after retirement and until age 65, by paying the applicable premium for this coverage. On and after the Closing Date, the Buyer shall assume the Seller’s obligation to provide this continuing coverage to all Early Retiree Eligible Employees, including both current employees of the Seller who may become eligible for this continuing coverage on or after the Closing Date and former employees of the Seller who have elected or have the right to elect this continuing coverage, by providing this continuing coverage under the Buyer’s own health and welfare program to the extent required by the collective bargaining agreement with GCIU Local 663 that the Buyer is assuming pursuant to subsection (b) above. This continuing coverage for Early Retiree Eligible Employees shall be in addition to and not in derogation of, any COBRA coverage that the Buyer is obligated to provide in accordance with subsection (d) above to Hired Employees.
Retiree Health Plan. In the event that the employees elect as a group to join the Western Conference of Teamsters Retiree Welfare Trust, the Employer agrees to withhold the designated amounts from the employees’ paychecks as permitted by law to fund their participation in the retiree health plan. Nothing herein amends the employer or employee rights and obligations under PERS or MEBT.
Retiree Health Plan. The Sellers shall take or cause to be taken such actions with respect to its retiree health plan as necessary to provide that each Transferred Employee who (i) on the Closing Date is eligible to retire from the Sellers and receive coverage under the Sellers’ retiree health plan or (ii) would become so eligible prior to the “applicable date” if his continuous employment with the Purchaser following the Closing were deemed to be continued employment with the Sellers, shall, on his termination from the Purchaser, be eligible to elect, to the extent the Sellers then maintain a retiree health plan, to receive coverage under the Sellers’ retiree health plan as if he had retired directly from the Sellers. The “applicable date” shall mean (A) the end of the term of the collective bargaining period in effect on the Closing, if the Transferred Employee is covered by a Labor Agreement and (B) January 31, 2009, if the Transferred Employee is not covered by a Labor Agreement. However, nothing herein shall operate or be construed to prevent the Sellers from amending or terminating their retiree health plan at any time following the Closing, provided that (1) the Sellers, either through Sellers’ retiree health plan or otherwise, will ensure that the same coverage as described in this subsection is provided to each eligible Transferred Employee whose employment terminates by the “applicable date” at least through the “applicable date” and (2) the Sellers will not eliminate or materially adversely change, prior to the “applicable date,” the coverage provided for in the Sellers’ retiree health plan for any employees whose employment terminates prior to the Closing Date and had been covered by a Labor Agreement when employed by the Sellers. This paragraph is not intended to be, and shall not be construed as, an amendment to the Sellers’ retiree health plan.
Retiree Health Plan. The Hospital will provide a Health Plan for Retirees from the Hospital as provided under the conditions specified below:
a. Employees must be between the ages of 60 & 65.
b. This benefit applies to the employee only.
c. Employees must have worked in a benefited position for a minimum of twenty (20) years at SVMHS immediately prior to retirement.
d. Employees must retire under the SVMHS pension plan, but do not have to be collecting the retirement pension at the time of enrollment.
e. Employees who retire with twenty (20) to twenty-four (24) years of service will receive a career maximum of $18,000.
f. Employees who retire with twenty-five (25) or more years of service will receive a career maximum account of $21,000.
g. Upon retirement, employees may use as much of their account, as needed, each year to purchase health insurance.
h. Employees have the option to purchase COBRA and/or private health insurance using SVMHS health savings account funds.
i. Employees will not be eligible for SVMHS Health Insurance Plan upon expiration of COBRA benefits.
j. Employees must pay the insurance premium then submit receipts for reimbursement.
k. Employee’s unused account balance expires at age sixty-five (65) or Medicare eligibility, whichever comes first.
Retiree Health Plan. In addition, the City shall contribute sixteen dollars ($16) per month to provide hospital and medical care benefits, for an employee only who retires from the City of San Xxxxxx with a PERS retirement benefit. For those employees who retire from San Xxxxxx with a PERS retirement with at least ten (10) years of City service, the City shall pay for the retiree only, an amount not to exceed the current employee only contribution under this. The amount between the sixteen dollars ($16) medical contribution and the single PERS Care rate will be reimbursed by the City to the retiree on a monthly basis.
Retiree Health Plan. A. Employees who retire during the period of this Agreement who have met the vesting requirements with Xxxxxx County service only, and who are immediately eligible for retirement benefits shall be provided single subscriber health and hospitalization coverage.
Retiree Health Plan. If an employee has worked for the City of San Xxxxxx a minimum of ten (10) years and retires with a PERS retirement, the City will allow the retiree only to stay on the City’s dental and vision insurance plans provided the employee pays the full premium(s) plus a two percent (2%) administration fee. This option must be exercised at the time of retirement. Through August 31, 2021 the City shall contribute the minimum amount required by law toward the monthly premium for hospital and medical care under the CalPERS (PEMHCA) Health Plan for individuals who retire from the City through CalPERS.
Retiree Health Plan. The Hospital will provide a Health Plan for Retirees from the Hospital as provided under the conditions specified below:
1. Employees must be between the ages of 60 & 65.
2. This benefit applies to the employee only.
3. Employees must have worked in a benefited position for a minimum of twenty (20) years at SVMHS immediately prior to retirement.
4. Employees must retire under the SVMHS pension plan, but do not have to be collecting the retirement pension at the time of enrollment.
5. Employees who retire with twenty (20) to twenty-four (24) years of service will receive a career maximum of $13,000.
6. Employees who retire with twenty-five (25) or more years of service will receive a career maximum account of $16,000.
7. Upon retirement, employees may use as much of their account, as needed, each year to purchase health insurance.
8. Employees have the option to purchase COBRA and/or private health insurance using SVMHS health savings account funds.
Retiree Health Plan. On or prior to the date the Distribution is completed, Medco shall amend the Merck-Medco Medchoice Retiree Health Benefits Plan (the "Medco Retiree Health Plan") to provide retiree medical benefits to union Medco Employees on the same terms applicable to non-union Medco Employees under the Medco Retiree Health Plan as in effect on such date or on such other terms as may be required by any applicable collective bargaining agreement. As of the date the amendment is completed, Medco shall be responsible for and shall assume all liabilities, responsibilities and obligations for all post-retirement medical benefits under the Merck & Co., Inc. Medical, Dental and Long-Term Disability Plan for Union Employees (the "Merck Union Retiree Health Plan") in respect of union Medco Employees and former union employees of any member of the Medco Group. Until the date the amendment is completed, Medco shall continue to fulfill its obligations to Merck under all existing arrangements (and any subsequent changes thereto agreed to by the Parties) pursuant to which Medco has obligations to Merck by reason of provision of benefits under the Merck Union Retiree Health Plan to union Medco Employees and former union employees of any member of the Medco Group.
