Common use of Retiree Medical Benefit Clause in Contracts

Retiree Medical Benefit. Any employee with a minimum of twenty (20) years of service with the City who retires and qualifies for retirement benefits under Nevada Public Employees Retirement System (PERS) will be entitled to the following benefit: 1. The City will pay sixty percent (60%) of the health insurance premiums (medical, dental, vision, Rx, life) under the City’s group health insurance plan for the retired employee and employee’s spouse at the time of retirement and so long as married to the retiree. However, this benefit cannot be combined with any employer subsidy under Nevada Law. 2. When the retired employee reaches the eligibility age for Medicare benefits, the City agrees to pay fifty (50%) of the health insurance premiums only for the retired employee. The retired employees’ benefit will continue until the retired employee’s death. 3. Spousal survivor benefits: In the event of the retiree’s death, the covered spouse’s benefit shall continue until the spouse’s death, remarriage or the date the retiree would have reached the age of Medicare eligibility, whichever occurs first. 4. Sick leave conversion benefits pursuant to Section 4 Article C, may be applied toward the remaining portion of the monthly health insurance premium so long as there is a balance of accumulated sick leave conversion funds. 5. Any employee who retires under PERS may continue group health insurance for that portion not covered under Paragraph 4 by paying in advance the monthly health insurance premium amount calculated for employee/dependent(s) to the City.

Retiree Medical Benefit. ‌ Any employee with a minimum of twenty (20) years of service with the City who retires and qualifies for retirement benefits under Nevada Public Employees Retirement System (PERS) will be entitled to the following benefit: 1. The City will pay sixty percent (60%) of the health insurance premiums (medical, dental, vision, Rx, life) under the City’s group health insurance plan for the retired employee and employee’s spouse at the time of retirement and so long as married to the retiree. However, this benefit cannot be combined with any employer subsidy under Nevada Law. 2. When the retired employee reaches the eligibility age for Medicare benefits, the City agrees to pay fifty (50%) of the health insurance premiums only for the retired employee. The retired employees’ benefit will continue until the retired employee’s death. 3. Spousal survivor benefits: In the event of the retiree’s death, the covered spouse’s benefit shall continue until the spouse’s death, remarriage or the date the retiree would have reached the age of Medicare eligibility, whichever occurs first. 4. Sick leave conversion benefits pursuant to Section 4 Article C, may be applied toward the remaining portion of the monthly health insurance premium so long as there is a balance of accumulated sick leave conversion funds. 5. Any employee who retires under PERS may continue group health insurance for that portion not covered under Paragraph 4 by paying in advance the monthly health insurance premium amount calculated for employee/dependent(s) to the City.

Retiree Medical Benefit. ‌ Any employee with a minimum of twenty (20) years of service with the City who retires and qualifies for retirement benefits under Nevada Public Employees Retirement System (PERS) will be entitled to the following benefit: 1. The City will pay sixty percent (60%) of the health insurance premiums (medical, dental, vision, Rx, life) under the City’s group health insurance plan for the retired employee and employee’s spouse at the time of retirement and so long as married to the retiree. However, this benefit cannot be combined with any employer subsidy under Nevada Law. 2. When the retired employee reaches the eligibility age for Medicare benefits, the City agrees to pay fifty (50%) of the health insurance premiums only for the retired employee. The retired employees’ benefit will continue until the retired employee’s death. 3. Spousal survivor benefits: In the event of the retiree’s death, the covered spouse’s benefit shall continue until the spouse’s death, remarriage or the date the retiree would have reached the age of Medicare eligibility, whichever occurs first. 4. Sick leave conversion benefits pursuant to Section 4 Article C, may be applied toward the remaining portion of the monthly health insurance premium so long as there is a balance of accumulated sick leave conversion funds. 5. Any employee who retires under PERS may continue group health insurance for that portion not covered under Paragraph 4 by paying in advance the monthly health insurance premium amount calculated for employee/dependent(s) to the City.City.‌