Retirement Insurance Benefit. In addition to the retirement benefits above, a certified employee who has ten years of uninterrupted service as an employee with the
Retirement Insurance Benefit. An individual who is employed as a bargaining unit member at the time of retirement or severance from employment will be eligible for the following insurance benefits provided the Teacher has otherwise satisfied the requirements and conditions described below.
Retirement Insurance Benefit i. Contract classified employees who retire under the provisions of the Utah State Retirement System may continue to participate in the district's health, major medical and life insurance programs on a self pay basis until the age at which they qualify for Medicare regardless of the number of years.
Retirement Insurance Benefit. When an employee retires, they will be eligible to use 50% of their accumulated, uncompensated and unused sick time, based on their last day base hourly rate, for all medical expenses eligible under IRS guidelines. A report shall be prepared by the Village at time of retirement to indicate the amount of accumulated Retirement Insurance Benefit and shall be updated no later than December 1 of each following year. For the purposes of clarifying this section, retiring shall mean an employee with at least 20 years of pension service and having attained age 50 or the granting of a disability pension. Anyone with 20 years of pension service but less than age 50, will receive this benefit upon reaching their 50th birthday.
Retirement Insurance Benefit. Employees will be responsible for choosing an investment option for their accounts. The health insurance retirement account will be established and the Village will begin contributions by May 1, 2006 and continue thereafter.
Retirement Insurance Benefit. Upon the first year and only the first year of retirement, the District will pay an insurance benefit to the school’s insurance carrier equal to: Per Month Total Single premium: $122.00 $1464 Two-party premium: $253.00 $3036 Family: $293.00 $3516 Employee/Child $222.00 $2664 Medicare $ 51.00 $ 612 This benefit will begin on September 1 following retirement and continue for the next twelve months. This benefit is applicable only if retiree chooses to stay as a member of the school insurance.
Retirement Insurance Benefit. Employees choosing to retire with a minimum of twelve (12) years' experience as an employee in Xxxxxxxx High School District 205, the Board will pay seventy-five percent (75%) of the premium for single health insurance coverage not to exceed $5,000 in one (1) given year for a period not to exceed five (5) consecutive years provided the employee elects a Board/Union agreed to HMO/PPO health insurance program. The retirement insurance premium will be set annually by the District for the subsequent years and all participants may elect installments as agreed upon by the Director of Business Affairs. Upon attaining Medicare eligibility, “premium for single health insurance coverage” will be the premium cost for the District's plan offered to employees to serve as secondary and supplemental to primary Medicare coverage.
Retirement Insurance Benefit. For those employees choosing to retire and have a minimum of twelve (12) years' experience as a Buildings, Grounds and Maintenance employee in High School District 205, the Board will pay fifty percent (50%) of the premium for single health insurance coverage not to exceed $1,250.00 in one (1) given year for the period not to exceed five (5) consecutive years provided the employee elects a Board Union agreed to HMO/PPO health insurance program. The benefit expires as soon as the employee reaches Medicare eligibility.
Retirement Insurance Benefit. Any administrator who retires from the District shall have the option of continuing at his/her own expense all health insurance coverage to age sixty-five (65). *The employee shall have no cash option.
Retirement Insurance Benefit. For all full-time paraprofessionals retiring at age fifty-five (55) or later who have at least twenty (20) years of para seniority credit and are enrolled in the District insurance at the time of retirement, the District will make a lump sum contribution at the time of retirement equal to $14,040 ($195.00 per month multiplied by 72 months) to be deposited into a Voluntary Employee Benefits Association (VEBA) account as authorized under Section 501 (c)(9) of the Internal Revenue Code to provide health insurance to eligible members.
