Retiree Insurance Reimbursement. The City agrees to reimburse the retiree up to five hundred ($500) dollars per month for the retiree and/or retiree’s dependent health (medical/dental/vision) insurance premiums, disability insurance, long-term health care, and/or life insurance premiums. Employees with a current hire date prior to January 1, 2012 must have a minimum of ten (10) years of City service and are eligible for this benefit for life. Employees with a current hire date on or after January 1, 2012 must have a minimum of twenty (20) years of City service and are eligible for this benefit through the end of the month they turn age 65. Retirees are eligible for this benefit effective the first month following termination of the City’s contribution toward health insurance. Retroactive reimbursement requests are limited to no more than the prior twelve (12) months.
Retiree Insurance Reimbursement a. A fund is hereby established for the purpose of reimbursement of retirees for medically related expenses. The District shall contribute $40,000 per contract year to this fund. Effective the 2010-2011 school year, the District and Forum will establish a Post-Retirement Health Care Savings Plan (Plan) to be administered by the Minnesota State Retirement System (MSRS). If the Plan proposed by the parties to MSRS is authorized by MSRS, the District shall make an annual payment of $40,000 to the retirees’ MSRS Plan for those who meet the eligibility requirements in section b below. To be eligible for the reimbursement the principal must provide satisfactory evidence of allowable medical expenses to MSRS before payment will be transferred from the MSRS account. The amount in each eligible Principal’s Plan account shall be determined by dividing the account balance of $40,000 by the number of eligible retired Principals
Retiree Insurance Reimbursement
