Retirement Gap Insurance Incentive Program. 14.4.1 The District will make a contribution of 100% of the cost of the least expensive medical ("employee only") plan among the District-sponsored Group Medical Insurance programs for eligible unit members who retire voluntarily, or as a result of disability (STRS Retirement) between the age of 55 and 65, on or after July 1, 2000. 14.4.1.1 The maximum benefit period shall not exceed ten years and will cease at the end of the month in which the retiree’s 65th birthday occurs or upon eligibility for Medicare, whichever comes first. 14.4.1.2 Employees who have ten (10) or more years of in-district teaching experience, full or part-time, and retire from the District shall qualify for retirement benefits. Full time employees will be entitled to full time benefits. Part-time employees will be eligible for pro-rated retirement benefits. 14.4.1.3 Any difference required for payment of Group Medical Insurance and other Health and Welfare Benefits premiums, as a result of selections by the employee, must be paid by the employee. 14.4.1.4 The District, at its sole option and discretion, will prescribe the time and procedures for remitting the employee’s premium contribution. 14.4.1.5 The benefit provided hereunder is limited to the "employee only" coverage. A participant in the Program under this article may purchase the same coverage for his or her eligible dependents by paying the full cost of the applicable premium rate for annual premiums designated for such dependents. 14.4.1.6 All benefits described in this article cease with the death of the employee. 14.4.1.7 If the retiree accepts other employment which provides Health and Welfare Benefits, or is covered by or eligible for coverage by a plan through his or her spouse’s active employment, then he or she is not eligible to participate in this program. 14.4.1.8 The benefits hereunder will continue, subject to the same terms and conditions, for eligible retirees who retired during the term of this agreement in accordance with Article XXVII Term and Calendar Section 27.
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Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
