Retirement Health Coverage Sample Clauses

Retirement Health Coverage. A. Employees who retire on October 10, 2002 or after, who have completed twenty (20) years of St. Xxxx’x-Xxxxxxxxx bargaining unit seniority and have reached the age of sixty (60), will be eligible to participate in the Employers Retirement Medical Coverage Plan. Benefit coverage and employee contribution requirements will be the same as non-represented employees. Participation in the plan is available to employees until they are Medicare eligible according to law, and only if they have retired under the NYSNA Pension Plan.
Sample 1
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Retirement Health Coverage. For a ------------------------------- three (3) year period commencing on the Closing Date (the "Post-Retirement Period"), Buyer shall, or shall cause a Subsidiary of ---------------------- Buyer to, provide post-retirement health coverage (excluding any post-retirement dental coverage) to each Transferred Employee (and eligible dependents) upon the termination of such Transferred Employee's employment; provided that such Transferred Employee -------- otherwise satisfies the applicable age and/or service requirements. Such post-retirement health coverage shall be at least substantially equivalent (in terms of the eligibility requirements, scope of the post-retirement health coverage provided and the cost of such coverage to the Transferred Employees) to either (A) that provided under the applicable post-retirement health program in effect immediately prior to the Closing Date, recognizing additional age and service credit accrued with Buyer and/or a Subsidiary of Buyer after the Closing, or (B) that provided to similarly situated employees of Buyer; provided, -------- however, that if Buyer or a Subsidiary of Buyer shall elect to provide ------- post-retirement health coverage through an Applicable Buyer Plan pursuant to this Section 5.11(n)(i)(B), Buyer or such Subsidiary of Buyer shall, for the duration of the Post-Retirement Period, waive any otherwise applicable company cost-sharing and life-time maximum limitations with respect to such post-retirement health coverage.
Sample 1
Retirement Health Coverage. ⚫ An average of forty teachers retire each year and receive individual health coverage (not including dental) until age 65 when they are transferred to Medicare ⚫ Based upon this average number of annual retirements, the District can save approximately $250,000 in the first year if post-retirement health benefits were not offered to these forty teachers ⚫ The annual savings would obviously compound due to increases to the cost of health benefits and additional retirees ⚫ In FY2011, $6.8 million has been budgeted for post-retirement health benefits for all employees ⚫ Approximately half of the school districts in Rhode Island offer post-retirement health coverage and the trend is to curtail or eliminate this benefit ⚫ Total Projected Savings = $250,000 (Year #1) 1. Substitute Teacher Reform $6.7 $9.9 2. State Average Work Expectations $2.2 $2.2 3. Miscellaneous $1.4 $1.4 4. Health Benefits $3.1 $5.8 Potential Savings Cumulative Savings $19.3 $19.55 $19.8 $19.3 $38.85 $58.65 Cost of Salary Increases $6.6 $3.1 $3.2 Cumulative Salary Costs $6.6 $9.7 $12.9 Net Cumulative Savingsafter paying Salary Increases $12.7 $22.55 $29.45 Fourth Hearing: Extended Learning Time 🞆 Urban Education Task Force 🞆 Volunteers in Providence Schools 🞆 Childrens Crusade of Rhode Island 🞆 Rhode Island Urban Debate League 🞆 Narragansett Boat Club Bringing Providence To The State’s Midpoint 🞆 Increase work year from 181 days to 183 days 🞆 Increase elementary work day from 6:15 to 6:40 🞆 Increase middle/high school work day from 6:40 to 6:45 🞆 Increase from 11 to 17 the number of hours for expected meetings 🞆 Add an expectation that teachers will meet with parents after school for reasonable requests Flexible Schedule Reforms 🞆Permit flexible school opening times (within +/- 30 minutes) 🞆Permit staggered work schedules (+/- 1 period) 🞆Permit mid-day flex time 🞆Permit flexible substitutes 🞆Permit clubs and extracurricular activities to meet during the school day 🞆 Permit community members (properly vetted) to apply for the positions of sports coaches and club advisors 🞆 Permit community groups (properly vetted) to conduct student advisories 🞆 Basic Education Plan: Teacher Evaluation Program 🞆 Basic Education Plan: Placements based on Student Need, rather than Seniority alone ⚫ Criterion Based Hiring 🞆 Bonus pool ⚫ Current program: Longevity ($1.09 million) and Academic Degrees ($4.65 million) ⚫ Redirect based on teacher performance – example of 3 tier ranking 🞆 Middle...
Sample 1
Retirement Health Coverage. The Company shall reimburse Executive for the one-time premium expended by Executive for the purchase of post-retirement health insurance for Executive and his family, such reimbursement to be made upon receipt by the Company of a copy of the premium statement therefor not to exceed $120,000.
Sample 1
Retirement Health Coverage. 23 A. Unit members who retire may continue to participate in 24 the health care plan, as outlined, provided the unit member makes 25 the arrangements for premiums to be paid through the retirement 26 program. This benefit is dependent upon the continued approval of 27 the insurance carrier. In the event that the Department re-enters 28 the California Public Employee Retirement System (PERS) provided 1 pursuant to the State Employees’ Medical and Hospital Care Act, the 2 Department agrees to pay the then-applicable monthly minimum 3 contribution rate established by the contract between the 4 City/Department and PERS. 5 B. When a unit member retires with a minimum of fifteen 6 (15) years of service with the Department and is at least age fifty- 7 five (55) at the time of retirement, and enrolls in a Department 9 contribution as follows: 10 1. Effective January 1, 2016 through December 31, 2017: up to 11 $917. 12 2. Effective January 1, 2018 through December 31, 2018: up to 13 $992. 14 Beginning January 1, 2019, and each January 1 thereafter, for 15 the remainder of the term of this MOU, the maximum contribution rate 16 for Department sponsored retiree medical plans will be automatically 17 adjusted and will be calculated as outlined in Section 6.2C1 above. 18 Retirees will be responsible for paying any premium amounts over the 19 established contribution rate. 20 If a retired unit member dies, and a spouse was otherwise 21 eligible for the monthly contribution (i.e., the retired unit member 22 was eligible at retirement and the retired unit member and spouse 23 participated in a health plan through the Department), the spouse 24 will continue to receive a monthly contribution up to the maximum 25 monthly contribution for their medical coverage premiums, provided 26 the spouse does not re-marry and remains in the Department’s health 28 If a retired unit member was not eligible to receive the 1 monthly contribution, and was enrolled in a Department group health 2 insurance plan as of July 1, 2003, that retired unit member (and 3 spouse, if applicable) will continue to receive an amount that is 4 equivalent to the then-current PERS minimum eligibility amount. In 5 order to receive this amount, the retired unit member (and spouse, 6 if applicable) must participate in the Department’s health plan. If 7 the retiree dies or has died, the spouse will continue to receive 8 this amount, provided that the spouse does not re-marry and 9 continues to participate in the D...
Sample 1
Retirement Health Coverage. 9 A. Unit members hired prior to July 1, 2019: 10 1. Unit members who retire may continue to 11 participate in the health care plan, as outlined, provided the unit 12 member makes the arrangements for premiums to be paid through the 13 retirement program. This benefit is dependent upon the continued
Sample 1
Retirement Health Coverage. 47-49 Retirement Insurance ............................................................................. 47- 50 Retirement Incentive............................................................................... 47, 48 Sabbatical Leave ................................................................................... 24
Sample 1
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Retirement Health Coverage. Post-retirement medical, mental health, substance abuse, pharmaceutical, vision, and dental coverage. Prime Rate. An interest rate per annum equal to the interest rate last published as the “Prime Rate” by The Wall Street Journal on or immediately prior to the date a given obligation first becomes due. Such published rate is defined by The Wall Street Journal as the base rate on corporate loans posted by at least 75% of the 30 largest U.S. banks.
Sample 1

Related to Retirement Health Coverage

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

  • Retirement Plans (a) 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 (“Qualified 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, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Retirement and Welfare Benefits During the Term, the Executive shall be eligible to participate in the Company’s health, life insurance, long-term disability, retirement and welfare benefit plans, and programs available to similarly-situated employees of the Company, pursuant to their respective terms and conditions. Nothing in this Agreement shall preclude the Company or any Affiliate (as defined below) of the Company from terminating or amending any employee benefit plan or program from time to time after the Effective Date.

  • Workers’ Compensation Coverage Consultant certifies that Consultant has qualified for workers’ compensation as required by the State of Oregon. Consultant shall provide the Owner, within ten (10) days after execution of this Agreement, a certificate of insurance evidencing coverage of all subject workers under Oregon’s workers’ compensation statutes. The insurance certificate and policy shall indicate that the policy shall not be terminated by the insurance carrier without thirty (30) days’ advance written notice to City. All agents or Consultants of Consultant shall maintain such insurance.

  • Workers’ Compensation/Employer’s Liability The Contractor shall have, maintain, and provide proof of Workers’ Compensation insurance.

  • COMPENSATION COVERAGE a) The Employer shall provide coverage to all employees for injury on the job under the Workers’ Compensation Act of the Province of Alberta, or under an Insured Plan which provides coverage of compensation equal thereto.

  • Retiree Health Benefits 1. There is currently in effect a retiree health benefit program for retired members of LACERS under LAAC Division 4, Chapter 11. All covered employees who are members of LACERS, regardless of retirement tier, shall contribute to LACERS four percent (4%) of their pre-tax compensation earnable toward vested retiree health benefits as provided by this program. The retiree health benefit available under this program is a vested benefit for all covered employees who make this contribution, including employees enrolled in LACERS Tier 3. 2. With regard to LACERS Tier 1, as provided by LAAC Section 4.1111, the monthly Maximum Medical Plan Premium Subsidy, which represents the Kaiser 2-party non-Medicare Part A and Part B premium, is vested for all members who made the additional contributions authorized by LAAC Section 4.1003(c). 3. Additionally, with regard to Tier 1 members who made the additional contribution authorized by LAAC Section 4.1003(c), the maximum amount of the annual increase authorized in LAAC Section 4.1111(b) is a vested benefit that shall be granted by the LACERS Board. 4. With regard to LACERS Tier 3, the Implementing Ordinance shall provide that all Tier 3 members shall contribute to LACERS four percent (4%) of their pre-tax compensation earnable toward vested retiree health benefits, and shall amend LAAC Division 4, Chapter 11 to provide the same vested benefits to all Tier 3 members as currently are provided to Tier 1 members who make the same four percent (4%) contribution to LACERS under the retiree health benefit program. 5. The entitlement to retiree health benefits under this provision shall be subject to the rules under LAAC Division 4, Chapter 11 in effect as of the effective date of this provision, and the rules that shall be placed into LAAC Division 4, Chapters 10 and 11, with regard to Tier 3, by the Implementing Ordinance. 6. As further provided herein, the amount of employee contributions is subject to bargaining in future MOU negotiations. 7. The vesting schedule for the Maximum Medical Plan Premium Subsidy for employees enrolled in LACERS Tier 1 and LACERS Tier 3 shall be the same. 8. Employees whose Health Service Credit, as defined in LAAC Division 4, Chapter 11, is based on periods of part-time and less than full-time employment, shall receive full, rather than prorated, Health Service Credit for periods of service. The monthly retiree medical subsidy amount to which these employees are entitled shall be prorated based on the extent to which their service credit is prorated due to their less than full time status.

  • Retirement, Welfare and Fringe Benefits During the Period of Employment, the Executive shall be entitled to participate in all employee pension and welfare benefit plans and programs, and fringe benefit plans and programs, made available by the Company to the Company’s employees generally, in accordance with the eligibility and participation provisions of such plans and as such plans or programs may be in effect from time to time.

  • ' Compensation & Employer's Liability The Service Provider shall maintain during the life of this Agreement for all of the Service Provider's employees engaged in work performed under this agreement:

  • WORKERS' COMPENSATION BENEFITS In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

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