Retirement Health Plan Sample Clauses

Retirement Health Plan. Upon retirement, unit members may participate in the Health Plans provided the unit member prepays their portion of the premium. Procedures for payment of premiums are to be at the discretion of the District. 5.4.1 Retirees who have served not less than eighteen (18) years in the District shall be eligible for only one (1) of the following options, to be chosen by the unit member upon notifying the District of his/her intent to retire: 5.4.1.1 the District shall contribute fifty percent (50%) of their monthly subscriber only medical plan premiums and fees for a period of seven (7) years. 5.4.1.2 the District shall contribute one-hundred percent (100%) of their monthly subscriber only medical plan premiums and fees for a period of three (3) years. 5.4.1.3 the District shall contribute one-hundred percent (100%) of their monthly dental and vision plan premiums for a period of ten (10) years. 5.4.2 An employee may, upon retirement, elect to delay commencement of District contribution to medical care for a period not to exceed seven (7) years provided continuous coverage is maintained. 5.4.3 For unit members that are eligible and select to begin retiree medical benefits upon separation, the 50% District and retiree premium rate contribution begins the month following the last month in which the unit member leaves the District. 5.4.4 For unit members that select COBRA coverage, dental insurance coverage, and/or vision insurance coverage, the retiree premium rate contribution begins the month following the last month in which the unit member leaves the District.
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Retirement Health Plan. X. Xxxxxxxx, survivors of retirees and survivors of deceased employees, unless prohibited by the carrier, will be permitted to maintain the current level of health plan benefits available to employees. Retirees, survivors of retirees and survivors of deceased employees may maintain such health plan benefits at their discretion and with no cost to the City.
Sample 1
Retirement Health Plan. Effective July 1, 2009, the City will make available to employees a Retirement Health Savings Plan with terms and conditions agreed to by the parties. Effective July 1, 2009, the City will contribute to an individual plan one percent (1.0%) of the individual’s annual income as defined by all regular and overtime hours worked. Effective July 1, 2010, the City will contribute to an individual plan one and one-half percent (1.5%) of the individual’s annual income as defined by all regular and overtime hours worked. Effective July 1, 2011, the City will contribute to an individual plan two percent (2.0%) of the individual’s annual income as defined by all regular and overtime hours worked. Effective July 1, 2015, the City will contribute to an individual plan three percent (3.0%) of the individual’s annual income as defined by all regular and overtime hours worked.
Sample 1
Retirement Health Plan. Effective January 1, 2007, the City will make available to employees a Retirement Health Savings Plan with terms and conditions equal to those agreed upon between the City and Union representatives on the Insurance Cost Containment Committee. Effective January 1, 2007, the City will contribute to an individual plan 1% of an individual’s annual income as defined by all regular and overtime hours worked. The City’s annual contribution to the plan will increase to 1.5% effective 07/01/2009, 2.5% effective 07/01/2010 and 3.0% effective 07/01/2011.
Sample 1
Retirement Health Plan. Upon retirement, unit members may continue participation participate in the Health Plans provided the unit member prepays their portion of the premium. Procedures for payment of premiums are to be at the discretion of the District. 5.4.1 Retirees who have served not less than eighteen (18) years in the District shall be eligible for only one (1) of the following options, to be chosen by the unit member upon notifying the District of his/her intent to retire: 5.4.1.1 the District shall contribute fifty percent (50%) of their monthly subscriber only medical plan premiums and fees for a period of seven (7) years. 5.4.1.2 the District shall contribute one-hundred percent (100%) of their monthly subscriber only medical plan premiums and fees for a period of three (3) years. 5.4.1.3 the District shall pay a one-time cash out of $17,500 no more than forty-five (45) days after the unit member retires.
Sample 1
Retirement Health Plan. Retirees, survivors of retirees and survivors of deceased employees, if permitted by the carrier, will be permitted to maintain the current level of health plan benefits available to employees. Retirees, survivors of retirees and survivors of deceased employees not killed in the performance of official duties may maintain such health plan benefits at their discretion and with no cost to the City.
Sample 1

Related to Retirement Health Plan

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.

  • 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 System The withdrawal of employee contributions made on or after January 1, 2014 may also be withdrawn but only on an actuarially neutral basis. The actuarial present value of the pension reduction shall be equal to the amount of accumulated member contributions withdrawn. The actuarial present value shall computed using the interest rate used in the annual actuarial valuation and the mortality table used in the annual actuarial valuation with a 50% unisex blend.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • 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.

  • 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.

  • 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.

  • Public Employees Retirement System “PERS”) Members.

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