Common use of RETIREE MEDICAL FOR EMPLOYEES Clause in Contracts

RETIREE MEDICAL FOR EMPLOYEES. Hired After June 26, 2006 and Before November 1, 2010 (Tier 2): Employees hired on or after June 26, 2006 (the date of implementation of the 3.0% @50 Retirement Benefit) and before November 1, 2010, will receive retiree medical contributions based on years of service with the Police Department. The retiree medical contribution for employees who have a service retirement will be as follows: Years of Service Monthly Contribution 0-end of 9th year of service Minimum monthly amount as governed by the CalPERS Health System. 10 years to the end of the 14th year of service 50% of the lowest medical premium provided through CalPERS approved medical providers for employee +1 dependent. 15 years to the end of the 19th year of service 75% of the lowest medical premium provided through CalPERS approved medical providers for employee +1 dependent. 20 years of service or more 100% of the lowest medical premium provided through CalPERS approved medical providers for employee +1 dependent.

RETIREE MEDICAL FOR EMPLOYEES. Hired After June 26, 2006 and Before November 1, 2010 (Tier 2): Employees hired on or after June 26, 2006 (the date of implementation of the 3.0% @50 Retirement Benefit) and before November 1, 2010, will receive retiree medical contributions based on years of service with the Police Department. The retiree medical contribution for employees who have a service retirement will be as follows: Years of Service Monthly Contribution 0-end of 9th year of service Minimum monthly amount as governed by the CalPERS Health System. 10 years to the end of the 14th year of service 50% of the lowest medical premium provided through CalPERS approved medical providers for employee +1 dependent. 15 years to the end of the 19th year of service 75% of the lowest medical premium provided through CalPERS approved medical providers for employee +1 dependent. 20 years of service or more 100% of the lowest medical premium provided through CalPERS approved medical providers for employee +1 dependent.