Common use of RETIREMENT BENEFIT ALLOWANCE Clause in Contracts

RETIREMENT BENEFIT ALLOWANCE. Effective May 29, 2016, any active represented employee who is retirement eligible and who retires during the life of this agreement is entitled to a Retirement Benefit Allowance. The monthly allowance for Pre-65 Retiree Only coverage is $246. The monthly allowance for any coverage level for Pre-65 Retiree + Dependent coverage is $518. • The Benefit Allowance will be granted throughout the life of this agreement for Pre-65 age retirees. • The benefit allowance is not applicable to Post-65 retirees and/ or spouses. • The benefit allowance is not applicable for “Post-65 retirees who elect “Retiree plus Family” or “Retiree Plus Dependent” coverages • When a retiree elects “Retiree & Spouse”, where one is less than 65 years old and one is at least 65 years old ⮚ The Benefit Allowance $246 will be granted to Retiree or Spouse who remains in the Pre-65 Retiree group plan. ⮚ The Retiree and/ or spouse that is 65 years or older will transition to Extend Health.

RETIREMENT BENEFIT ALLOWANCE. Effective May 29June 2, 20162013, any active represented employee who is retirement eligible and who retires during the life of this agreement is entitled to a Retirement Benefit Allowance. The monthly allowance for Pre-65 Retiree Only coverage is $246. The monthly allowance for any coverage level for Pre-65 Retiree + Dependent coverage is $518. •  The Benefit Allowance will be granted throughout the life of this agreement for Pre-65 age retirees. •  The benefit allowance is not applicable to Post-65 retirees and/ or spouses. •  The benefit allowance is not applicable for “Post-65 retirees who elect “Retiree plus Family” or “Retiree Plus Dependent” coverages •  When a retiree elects “Retiree & Spouse”, where one is less than 65 years old and one is at least 65 years old ⮚  The Benefit Allowance $246 will be granted to Retiree or Spouse who remains in the Pre-65 Retiree group plan. ⮚  The Retiree and/ or spouse that is 65 years or older will transition to Extend Health.

RETIREMENT BENEFIT ALLOWANCE. Effective May 29, 2016, any active represented employee who is retirement eligible and who retires during the life of this agreement is entitled to a Retirement Benefit Allowance. The monthly allowance for Pre-65 Retiree Only coverage is $246. The monthly allowance for any coverage level for Pre-65 Retiree + Dependent coverage is $518. • The Benefit Allowance will be granted throughout the life of this agreement for Pre-65 age retirees. • The benefit allowance is not applicable to Post-65 retirees and/ or spouses. • The benefit allowance is not applicable for “Post-65 retirees who elect “Retiree plus Family” or “Retiree Plus Dependent” coverages • When a retiree elects “Retiree & Spouse”, where one is less than 65 years old and one is at least 65 years old ⮚ ➢ The Benefit Allowance $246 will be granted to Retiree or Spouse who remains in the Pre-65 Retiree group plan. ⮚ ➢ The Retiree and/ or spouse that is 65 years or older will transition to Extend Health.

RETIREMENT BENEFIT ALLOWANCE. Effective May 29, 2016, any active represented employee who is retirement eligible and who retires during the life of this agreement is entitled to a Retirement Benefit Allowance. The monthly allowance for Pre-65 Retiree Only coverage is $246. The monthly allowance for any coverage level for Pre-65 Retiree + Dependent coverage is $518. • The Benefit Allowance will be granted throughout the life of this agreement for Pre-65 age retirees. • The benefit allowance is not applicable to Post-65 retirees and/ or spouses. • The benefit allowance is not applicable for “Post-65 retirees who elect “Retiree plus Family” or “Retiree Plus Dependent” coverages • When a retiree elects “Retiree & Spouse”, where one is less than 65 years old and one is at least 65 years old ⮚ The Benefit Allowance $246 will be granted to Retiree or Spouse who remains in the Pre-65 Retiree group plan. ⮚ The Retiree and/ or spouse that is 65 years or older will transition to Extend Health.