RETIREMENT HEALTH CARE Sample Clauses

RETIREMENT HEALTH CARE. The City shall provide retirement health coverage for those employees who retire directly from the City with unreduced pension payments subject to the following: For the City employee/retiree hired before July 1, 2014, the City will pay 100% of the individual retiree premium. For the City employee/retiree hired on or after July 1, 2014, the City will pay 80% of the individual retiree monthly premium. The employee/retiree will pay the remaining 20% of the individual monthly premium. For retirees whose start date is prior to July 1, 1986, the City will pay 75% of the cost of insurance for dependents. For those employees/retirees whose start date is July 1, 1986 or after, the City shall not pay any amount of dependent insurance. However, upon retirement these employees may purchase dependent coverage under the City’s plan at group rates at their own expense. A person who enrolls in the 401 pension option will have the same retirement health care and terminal leave options as granted to employees in the regular retirement plan.
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RETIREMENT HEALTH CARE. For each employee who, upon leaving the employ of the Board immediately retires under the Town Pension Plan, the Board shall pay 100% of the premium cost for individual membership plus, if in effect at least ninety (90) days before retirement, 50% of the difference in premium cost between individual membership and dependent or family membership in any Board-offered hospital, medical/surgical and major medical insurance plan in which the employee was participating immediately prior to his/her retirement. Continuation of each plan shall be contingent upon conditions established by the carrier. At age 65, such coverage shall be converted to the SPP Medicare supplement plans for employees who are eligible for Medicare.
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RETIREMENT HEALTH CARE. I. Nontenure-track Faculty meeting the minimum University retirement requirements will remain eligible to maintain health and dental coverage and receive a University contribution toward the premiums based on the number of full-time equivalent (FTE) service months at retirement.
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RETIREMENT HEALTH CARE. BENEFITS FOR RETIREES BORN PRIOR TO JANUARY 1, 1935 For employees who retire before age 65, Company paid health care coverage continues from date of retirement for a period of 18 months but not beyond the date retiree becomes age 65 or the date retiree becomes eligible for MEDICARE benefits. These benefits also apply to spouses of retirees. After 18 months, the retiree can continue this coverage for himself and spouse by paying a premium of $40.00 per month per person to the company. Health care benefits on the retiree and on the spouse are discontinued on each when the covered person is age 65 or becomes eligible for MEDICARE.
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Related to RETIREMENT HEALTH CARE

  • Health Care Benefits (a) Each regular full-time employee may elect coverage for himself and his eligible dependents* under one of the following health insurance plans:

  • Health Care The Company will reimburse the Executive for the cost of maintaining continuing health coverage under COBRA for a period of no more than 12 months following the date of termination, less the amount the Executive is expected to pay as a regular employee premium for such coverage. Such reimbursements will cease if the Executive becomes eligible for similar coverage under another benefit plan.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Retirement Retirement" shall mean voluntary termination by the Executive in accordance with the Employers' retirement policies, including early retirement, generally applicable to their salaried employees.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Health Care Coverage The Company shall continue to provide Executive with medical, dental, vision and mental health care coverage at or equivalent to the level of coverage that the Executive had at the time of the termination of employment (including coverage for the Executive’s dependents to the extent such dependents were covered immediately prior to such termination of employment) for the remainder of the Term of Employment, provided, however that in the event such coverage may no longer be extended to Executive following termination of Executive’s employment either by the terms of the Company’s health care plans or under then applicable law, the Company shall instead reimburse Executive for the amount equivalent to the Company’s cost of substantially equivalent health care coverage to Executive under ERISA Section 601 and thereafter and Section 4980B of the Internal Revenue Code (i.e., COBRA coverage) for a period not to exceed the lesser of (A) 18 months after the termination of Executive’s employment or (B) the remainder of the Term of Employment, and provided further that (1) any such health care coverage or reimbursement for health care coverage shall cease at such time that Executive becomes eligible for health care coverage through another employer and (2) any such reimbursement shall be made no later than the last day of the calendar year following the end of the calendar year with respect to which such coverage or reimbursement is provided. The Company shall have no further obligations to the Executive as a result of termination of employment described in this Section 8(a) except as set forth in Section 12.

  • Compensation; Employment Agreements; Etc Enter into or amend or renew any employment, consulting, severance or similar agreements or arrangements with any of its directors, officers or employees or those of its subsidiaries or grant any salary or wage increase or increase any employee benefit (including incentive or bonus payments), except (1) for normal individual increases in compensation to employees (other than executive officers or directors) in the ordinary course of business consistent with past practice, (2) for other changes that are required by applicable law and (3) to satisfy Previously Disclosed contractual obligations.

  • Health Benefits The method for determining the Employer bi-weekly contributions to the cost of employee health insurance programs under the Federal Employees Health Benefits Program (FEHBP) will be as follows:

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