Common use of Retiree Premium Sharing Clause in Contracts

Retiree Premium Sharing. Employees who retire after January 1, 2012 shall contribute 20% of the costs of Township-provided health insurance. The retiree contribution shall be paid directly to the Township prior to the start of the benefit plan year each year of retirement and must continue to be made in every year until the retiree reaches eligibility for Medicare coverage. Upon attainment of Medicare eligibility, retirees will receive the benefit specified in Section B, below, without premium sharing.

Retiree Premium Sharing. Employees who retire after January 1, 2012 shall contribute 20% of the costs of Township-provided health insurance. The retiree contribution shall be paid directly to the Township prior to the start of the benefit plan year each year of retirement and must continue to be made in every year until the retiree reaches eligibility for Medicare coverage. Upon attainment of Medicare eligibility, retirees will receive the benefit specified in Section B, below, without premium sharing.