Retiree Health Program. For purposes of Section 6 hereof, the “Retiree Health Program” shall mean a health insurance plan, with a reputable insurance provider that is sponsored by the Company and provides benefits that are substantially similar to those provided to then current employees, participation in which is paid for solely by Executive. The Company will use its reasonable best efforts to ensure that any Retiree Health Program provides coverage for Executive if, as of the date hereof, Executive is eligible for insurance under the Company’s current health insurance plan.
Retiree Health Program. Beginning January 1, 2007, the Employer will provide the following retiree health benefit:
Retiree Health Program. Employees hired before January 1, 2011 who retire from the City between October 23, 2012 and December 31, 2014:
(A) Up to one thousand one hundred dollars ($1,100) for retirees with dependent coverage.
(B) Up to six hundred twenty-one dollars ($621) for retirees without dependent coverage. If a retiree's health premium in any given month is less than the designated City contribution, the excess contribution shall be applied on behalf of the retiree to that month's premiums for dental and/or vision insurance, if the retiree has elected these plans. The City will no longer offer retiree medical plans through City’s group plans effective January 1, 2015, however, retiree may elect on a one-time basis at retirement the option to purchase and maintain City’s dental and vision plans at retiree’s cost. Employees who retire after five (5) years continuous years of service in good standing may, on a one-time basis, have ninety percent (90%) of their unused grandfathered sick leave converted to the City sponsored defined contribution retiree medical benefit plan at a rate of eight (8) hours equals one month of contribution to purchase medical insurance.
(A) For each eight hours converted to retiree medical, the recipient shall be provided a monthly contribution under one of the following schedules: Non-Medicare Eligible Recipient Medicare Eligible Recipient Retiree Only = $500 Retiree Only = $250 Retiree +1 Dep = $1,000 Retiree +1 Dep = $500 Retiree + Family= $1,000 Retiree + Family = $500
(B) Retiree Only contribution for eligible recipients is allowable regardless of where the retiree acquires authorized and legitimate medical insurance coverage (i.e. through State Exchange, through individual insurance company, through a current employer, or through spouse employer).
(C) Retiree shall not be eligible to receive a contribution for dependent, spouse, or registered domestic partner under the Retiree + 1 or Retiree + Family levels if retiree’s dependent, spouse, or registered domestic partner has medical insurance through their current employer, is covered under Retiree’s current employer, or if Retiree does not purchase individual insurance for dependent.
(D) The City shall transfer contributions based on eligibility above into the City’s sponsored Retiree Health Reimbursement Arrangement (HRA) account for the individual. Employees will not be eligible for these contributions should they separate from City service prior to retirement. Contributions to eligible retir...
Retiree Health Program. Effective January 1, 2012, the Authority agrees to pay 90% of the full cost of premiums, with the retiree responsible for 10% of the premium, for the health program that it provides for employees prior to retirement, excluding dental and vision plans, for coverage of the individual employees who retire from the Authority during the term of this Agreement provided that the aforementioned employees have completed a minimum of ten years of full time service with the Authority and enter into retirement with the New York State and Local Retirement System or draw a disability pension benefit under Social Security. The employee who retires from the Authority, during the term of this Agreement, shall be eligible for dependent coverage for the health program at a cost one half of the difference between family and single coverage. Notwithstanding §209(a)(1)(e) of the Civil Service law, or any other provision of law which serves to extend provisions of an expired agreement, this provision shall expire on December 31, 2019 unless modified or extended by the parties by written agreement.
Retiree Health Program. Commencing January 1, 2003, and ending on the earlier of (i) a Disqualifying Event (as defined below), or (ii) the later to occur of the death of Employee or that of his spouse (so long as Employee's spouse has remained married to Employee through the date of his death) or, in the event that Employee and his spouse predecease their eligible dependents, until such time as the eligible dependents cease to qualify under the eligibility provisions of the Sybase U.S. Retirees' Health Program (the "Retiree' Health Program"), the Company shall pay (A) the full premium on behalf of Employee, his spouse (so long as she remains married to Employee, or until her death if she remains married to Employee through the date of his death) and his eligible dependents under the Retirees' Health Program and (B) while Employee continues to provide services to the Company, a full gross-up amount to Employee, his spouse, or his eligible dependents, as applicable, sufficient to cover the additional federal, state and municipal income and employment taxes imposed upon Employee, his spouse, or his eligible dependents, as applicable, by virtue of such premium payments and the gross-up payments, so that Employee, his spouse, or his eligible dependents, as applicable, are in the same economic position as if the provision of such benefits did not result imputed income. Employee, his spouse, or his eligible dependents, as applicable, agree to provide the Company or its agents, upon written request, with sufficient information to accurately calculate the amount of the full gross-up payments due.
Retiree Health Program. Until the earlier of (i) a Disqualifying Event (as defined below), or (ii) the later to occur of the death of Employee or that of his spouse (so long as Employee’s spouse has remained married to Employee through the date of his death) or, in the event that Employee and his spouse predecease their eligible dependents, until such time as the eligible dependents cease to qualify under the eligibility provisions of the Sybase U.S. Retirees’ Health Program (the “Retirees’ Health Program”), the Company shall pay (A) no later than thirty (30) days following the premium due date, the full premium on behalf of Employee, his spouse (so long as she remains married to Employee, or until her death if she remains married to Employee through the date of his death) and his eligible dependents under the Retirees’ Health Program, and (B) while Employee continues to provide services to the Company, a full gross-up amount to Employee, his spouse, or his eligible dependents, as applicable, sufficient to cover the additional federal, state and municipal income and employment taxes imposed upon Employee, his spouse, or his eligible dependents, as applicable, by virtue of such premium payments and the gross-up payments, so that Employee, his spouse, or his eligible dependents, as applicable, are in the same economic position as if the provision of such benefits did not result in imputed income (with such tax gross-up payments to be made by the Company no later than the end of the calendar year in which Employee paid such taxes, either directly or through withholding); provided, however that such payments (or reimbursements, to the extent Employee pays the premiums in the interim) and tax gross-up payments shall be delayed six months and one day from Employee’s termination date (and then paid in full in arrears) to the extent required to avoid the imposition of additional tax under Code Section 409A. Employee, his spouse, or his eligible dependents, as applicable, agree to provide the Company or its agents, upon written request, with sufficient information to accurately calculate the amount of the full gross-up payments due. For purposes of this section 2(f), a Disqualifying Event means Employee’s service with the Company terminates before Employee reaches age fifty-five (55) and such termination of service is either voluntary by Employee other than pursuant to an Involuntary Termination (as defined in Section 5(e)) or by the Company for Cause (as defined in Section 5(c)). Notwith...
