Retiree Subsidy Sample Clauses
The Retiree Subsidy clause defines the employer's commitment to contribute toward the cost of health or other benefits for retired employees. Typically, this clause outlines the eligibility criteria for retirees to receive the subsidy, the types of benefits covered, and the percentage or amount of costs the employer will pay. By specifying these terms, the clause ensures that retirees understand their post-employment benefits and helps employers manage long-term benefit obligations.
Retiree Subsidy. The provisions of this Article and all its subsections shall sunset effective June 30, 2006 and bargaining unit members who retire after June 30, 2006 will no longer be eligible for any retiree subsidy. Effective July 1, 2006, all retirees previously eligible for the subsidy as of June 30, 2006, shall be eligible to receive the retire subsidy. The cost of such subsidy shall not exceed .00151641 of the budgeted General Fund property tax revenues. (the “Cap”). Any and all monies paid by the District under the State plan for the Public Employees Benefit Plan subsidy or its equivalent, which are not reimbursed by the State, shall be credited dollar for dollar against the CAP. The retirees’ insurance subsidy shall be paid as follows: The District will pay 40% of the monthly medical insurance costs that it pays for medical insurance for its active full-time Bargaining unit members, for each and every eligible retiree who elects to participate in one of the District’s self- insured group health plans. After the Cap is reached, no retiree subsidy will be paid for that fiscal year.”
Retiree Subsidy. The District shall also pay, separately from the insurance benefit pool described above, the full amount required for the retiree subsidy to the State Health Care Authority.
Retiree Subsidy. For calculation of pooling for insurance benefits, the District shall pass on the state rates each school year. The District will pay $20.00/FTE towards the retiree subsidy per month. Any additional subsidy cost will be paid from the pool. Effective January 1, 2020 the retiree subsidy is included in the state-designated employer contribution per eligible employee per month.
Retiree Subsidy. Medical Plan and COBRA participants shall be notified of non- payment of premium by means of a certified letter from Employee Benefits in accordance with provisions of the Memorandums of Understanding.
Retiree Subsidy. The District will pay the Health Care Authority (HCA) retiree subsidy contribution. (2017)