Retiree Health Savings Sample Clauses

Retiree Health Savings. Pending availability of a viable Retiree Health Savings plan, the City will provide an individual Retiree Health Savings plan. Benefited employees will be eligible to participate upon availability of plan or date of hire.
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Retiree Health Savings. All bargaining unit members with less than 25 years of service shall contribute $250.00 per month to the ICMA Retiree Health Savings account. Employees with 25 years of service or more shall contribute $500 per month to the ICMA Retiree Health Savings account. • For employees hired on or after November 14, 2022, the City shall contribute $50 per month to the ICMA Retiree Health Savings account. • A retiring employee (defined as an employee who is retiring from the City and is taking a service or disability retirement from CalPERS) shall place 100% of the value of their vacation and compensatory time off into the ICMA Retiree Health Savings Account.
Sample 1
Retiree Health Savings. (RHS) Plan for Non-Officers Annually, Non-Officers assigned to an 8-hour shift shall have sick leave hours accrued in excess of seven hundred and twenty (720) hours (i.e. ninety (90) days) paid at 75% of the hourly rate of pay. Non-Officers assigned to a 24-hour shift shall, on an annual basis, have sick leave hours accrued in excess of one thousand and eighty (1,080) hours (i.e. forty five (45) days) paid at 75% of the hourly rate of pay. Upon retirement or a duty disability retirement, each Non-Officer assigned to an 8-hour shift shall be paid at 25% of the hourly rate of pay for the first three hundred and sixty (360) hours (i.e. 45 days) of accrued sick leave, and all accrued sick leave in excess of three hundred and sixty (360) hours (i.e. 45 days) shall be paid at 75% of the hourly rate of pay. Each Non-Officer assigned to a 24-hour shift, upon retirement or a duty disability retirement, shall be paid at 25% of the hourly rate of pay for the first five hundred and forty (540) hours (i.e. 22 and ½ days) of accrued sick leave, and all accrued sick leave in excess of five hundred and forty (540) hours (i.e. 22 and ½ days) shall be paid at 75% of the hourly rate of pay. Any unused vacation or personal leave upon retirement or duty disability retirement shall be paid at 100% of the hourly rate of pay (see Article IX, Section 9.5, and Article X, Section 10.6.). For the purposes of computing RHS payments, the hourly rate of pay for a Non-Officer assigned to an 8-hour shift shall be calculated by totaling the employee’s base pay, longevity pay and any applicable certification pay, and dividing that number by 2,080 hours. For a Non-Officer assigned to a 24-hour shift, the hourly rate of pay for the purposes of computing RHS payments shall be calculated by totaling the employee’s base pay, longevity pay and any applicable certification pay, and dividing that number by 2,596 hours.
Sample 1
Retiree Health Savings. Effective January 1, 2016, a retiring employee shall place 100% of eligible Sick Leave Cash Out (in accordance with Rule XVII, Section 6 of the Rules and Regulations of the Classified Service) into the City-sponsored Retiree Health Savings Account. This provision does not apply to employees hired on or after October 1, 2019.  For all members of the bargaining group: Effective the first full pay period after Council adopts this agreement employees with less than 25 years of service shall contribute to ICMA retiree health savings account (or any account established under this section) an amount equal to $250.00 per month for each month of employment. Employees with 25 years of service or more shall contribute $500 per month for each month of employment.  For New Hires Only: For employees hired on or after adoption of the resolution eliminating retiree medical for new hires: The City shall contribute $50 per month to the current ICMA retiree health savings account (or any account established under this section).  A retiring employee shall place 100% of vacation and comp time cash out into the ICMA retiree health savings account (or any account established under this section).
Sample 1
Retiree Health Savings. Plan The employee City shall make a contribution of $44 per month to a Retiree Health Savings (RHS) account for each employee effective July 12, 20097. This provision is separate and distinct from any other provision set forth in this Article. Effective July 12, 2009, the parties agree that the $44 per month contribution will cease to be paid for by the City and will be assumed by each affected member. C. 2. d. UtilityIBEW Retiree Medical Trust Fund (URMT) Effective July 12, 2009, the parties have agreed to establish a utility retiree medical trust available to IBEW members with 10 or more years of utility service. The trust will be secondary to the Burbank Employee s’ Retiree Medical Trust (BERMT) and shall not be the primary retiree medical trust for IBEW employees. The parties agree to establish a joint labor/management committee to create and implement this trust under the following provisions/concepts: The utility retiree medical trust fund will be a supplement to the retiree medical payments made by the BERMT and PERS (if applicable). The intent is to fund URMTthis trust sufficiently to provide the average retiree medical benefit level offered by the cities of Glendale and Pasadena, Los Angeles Department of Water & Power, and Southern California Edison. The parties agree this is $600.00 per month (less the amounts from the BERMT and City’s minimum contribution towards medical premiums for retirees enrolled in a CalPERS medical plan pursuant to the Public Employee Medical and Hospital Care Act (PEMCHA) as provided below) for the first two years of the contract. Beginning with the start of the third contract year, and every year thereafter, the average benefit level will be subject to current survey of these same four agencies minus any payments received by membersless the amounts from the BERMT and PEMCHA as provided below. from BERMT and PERS (current estimate of $397.00). In addition, the $44 per month for each IBEW member that the City was contributing to the RHS account prior to July 12, 2009 will be diverted to the URMTis trust. It is inherent in the agreement that retirees will fully utilize the BERMT as their primary retiree medical reimbursement trust and that the IBEW will continue to fully support any increase funding for the BERMT. Xxxxxxxx retirees may receive the benefit of URMT beginning at the age of 50, but between the ages of 50 and 55 a retiree’s BERMT monthly benefit amount will be subtracted from the URMT monthly benefit amount. B...
Sample 1

Related to Retiree Health Savings

  • RETIREE HEALTH SAVINGS PLAN Effective, December 24, 2006, or as soon as administratively possible, the County shall establish a retiree health savings plan (RHSP) by contributing an amount of $25.00 to the employee’s RHSP each biweekly pay period.

  • Retiree Health Benefits 1. There is currently in effect a retiree health benefit program for retired members of LACERS under LAAC Division 4, Chapter 11. All covered employees who are members of LACERS, regardless of retirement tier, shall contribute to LACERS four percent (4%) of their pre-tax compensation earnable toward vested retiree health benefits as provided by this program. The retiree health benefit available under this program is a vested benefit for all covered employees who make this contribution, including employees enrolled in LACERS Tier 3.

  • Health Care Savings Plan As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator.

  • Retirement Savings 5.6.1 Principals are eligible to join a KiwiSaver scheme in accordance with the terms of those schemes.

  • Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the member who is covered under a high deductible health plan. The member must be covered under the HSA plan for the months in which contributions are made. HIGH DEDUCTIBLE HEALTH PLAN (HDHP) is a health plan that satisfies certain requirements with respect to deductibles and out-of-pocket expenses. The plan cannot provide payment for any covered healthcare service until the plan year deductible is satisfied, with the exception of preventive care services. HOSPITAL means a facility: • that provides medical and surgical care for patients who have acute illnesses or injuries; and • is either listed as a hospital by the American Hospital Association (AHA) or accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO).

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Retiree Medical Employee shall be eligible for lifetime medical coverage, upon retirement, subject to the monthly payment limit of the Kaiser Plan premium amount for an employee and spouse. Eligibility for lifetime medical is subject to the Employee completing five (5) years of continuous service at the level of Department Head or above and retiring from the City of Fontana as an annuitant of the Public employees Retirement System (PERS). Employee shall cease to be eligible for lifetime medical coverage paid by the City if the Employee reinstates as an active member of PERS or otherwise fails to meet the PERS definition of an annuitant.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Retiree Health Insurance Retired members of the Department receiving, or to receive City of Lincoln monthly pension checks, may participate in the group comprehensive health care plan for active City employees, provided that each retiree so desiring will execute the required forms in a timely fashion, and further provided that each retiree will be required to pay the full monthly cost at the current rates subject to any rate increases which may occur from time to time. Such payment will be made by payroll deduction from pension checks, or by direct payment in the case of an early retiree.

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