Retirement Incentive Program. A. For employees retiring from full-time service and who are retiring and terminating within the fiscal year (defined to allow completion of the current school year) in which they first become eligible for normal retirement as defined in 1, 2, and 3, the School Board will establish a temporary retirement incentive program, which will provide partial or full reimbursement of the retiree’s personal health insurance or health maintenance organization premiums until such time as the retiree becomes eligible for Medicare Parts A and B, at which time said reimbursement shall no longer be made. B. The date when an employee first becomes eligible for benefits under this Section will include the earliest of the following: 1. An employee’s eligibility for normal retirement under the Florida Retirement System; or 2. An employee’s eligibility for normal retirement under the Teachers’ Retirement System; or 3. An employee’s eligibility for normal retirement under the State and County Officers and Employees Retirement System. The reimbursement will be paid once, annually, during the month of October, upon presentation of a paid premium invoice and a copy of a canceled check or money order. All substantiation must be submitted to the Office of Risk and Benefits Management by August 31 of the respective year on designated forms. The amount of reimbursement will be prorated by the complete calendar months of coverage, but limited to no more than $1,200 annually.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
