Retirement Insurance Benefits. 1. Bargaining unit members who have served continuously for ten (10) years in the District and who retire under the State Teacher’s Retirement System provisions (straight/disability retirement) after age fifty-five (55) may elect to have employee only medical and prescription drug plan continue at District expense with the retiree contributing as provided in H.8. above until such time as the retiree reaches the age of eligibility for Medicare or becomes eligible for Medicare or other government- funded health insurance programs. Xxxxxxxx retired unit members who have elected to continue their medical and prescription drug plan may also, at their own expense, elect to enroll eligible dependents by submitting monthly payments to the District.
2. Bargaining unit members who have served continuously for ten (10) years in the District and who retire under the above provisions after age fifty-five (55) may elect to have dental coverage continue at district expense with retiree contributing as provided in H.8. above for themselves and their dependents until such time the retiree reaches age sixty-five (65). Eligible dependents will cease to be covered by the dental plan when they reach age sixty-five (65).
Retirement Insurance Benefits. The School District shall contribute, in subsequent years following retirement, the same dollar amount toward insurance coverage that was contributed for the administrator during the final year of employment. This fixed figure will be paid until the administrator reaches Medicare eligibility. This provision shall not be continued, however, if the principal is re-employed in an annual, full-time position in educational administration/teaching or a similar administrative position in the private or public sector that is comparable in pay and benefits.
Retirement Insurance Benefits. A. For Employees hired prior to July 1, 2003.
B. For Employees hired after July 1, 2003.
Retirement Insurance Benefits. The Board shall reimburse professional retirees retiring under any statutory early retirement plan or TRS regular annuity retirement for individual major medical insurance coverage secured through the Teachers’ Retirement System of Illinois on a monthly basis, provided the retiree has served the District for a period of fifteen (15) or more years as a full-time or part-time employee. The amount of the reimbursement shall not exceed Two Hundred Fifty Dollars ($250) per month, but not to exceed Fifteen Thousand Dollars $15,000 in total. Such benefit shall be provided upon retirement and shall continue until the retiree has reached the age of 65 or reached his/her $15,000 limit. The Board shall pay for retirement insurance directly to the Teachers’ Retirement Insurance Program (TRIP).
Retirement Insurance Benefits. Those employees who have competed ten (10) or more years of continuous service with the District and who are at least fifty-five (55) years of age, and are not discharged by the District, shall be entitled to the following health and hospitalization insurance benefits upon retirement from the District:
Retirement Insurance Benefits. 1. Bargaining unit members who have served continuously for ten (10) years in the District and who retire under the State Teacher’s Retirement System provisions (straight/disability retirement) after age fifty- five (55) may elect to have their medical and prescription drug plan continue, at District expense, until such time as the retiree reaches the age of eligibility for Medicare or becomes eligible for Medicare or other government- funded health insurance programs. Eligible retired unit members who have elected to continue their medical and prescription drug plan may also, at their own expense, elect to enroll eligible dependents by submitting monthly payments to the District.
2. Bargaining unit members who have served continuously for ten (10) years in the District and who retire under the above provisions after age fifty- five (55) may elect to have District-paid dental coverage continue, at District expense for themselves and their dependents until suc h time the retiree reaches age sixty- five (65). Eligible dependents will cease to be covered by the dental plan when they reach age sixty- five (65).
Retirement Insurance Benefits. The Board agrees to provide to each eligible employee covered by this Agreement, who voluntarily retires from services to the District on or after July 1, 1990, the same medical, dental and vision insurance coverage as are provided to full-time employees pursuant to Section 10, Article VII of this Agreement, upon the same terms and conditions as apply to full-time employees (except for the requirements of membership in the bargaining unit and the provision as such employees be on the active payroll of and be providing services for the District as full-time employees). Such retirement insurance benefits shall be provided during the period of the eligible employee’s retirement, but ending at the attainment of age 65, or at such earlier age at which Medicare benefits are available to such retired employees, or at the death of the retired employee, all upon the following additional terms and conditions. There shall be no post-retirement health care coverage for any employee hired after July 1, 2018. Current employees will be grandfathered.
(1) As of the intended date of retirement, the employee shall have completed either thirty five (35) years of public school service in the Commonwealth of Pennsylvania with no age restriction, or at least ten
Retirement Insurance Benefits. If the Superintendent retires before or at the end of this Agreement, the District will pay health and dental insurance premiums for the retired Superintendent and his current spouse until age 65, with the amount subsidized by PSERS per month to be paid to the District by the retired employee or the current surviving spouse.
Retirement Insurance Benefits. Upon retirement at normal age, an employee receive a paid-up life insurance policy. Further, the Drug and Major Medical Plan will be provided and paid for by the Company for as long as the employee lives and for the life of the surviving spouse.
Retirement Insurance Benefits. A. An employee who retires prior to being eligible for Medicare may participate in the Metropolitan School District of Mt. Xxxxxx group health insurance program until such time the said retiree qualifies for Medicare provided the following qualifications are met:
1. Must be 55 years of age and not eligible for Medicare coverage.
2. The retiree pays the full cost of the insurance premium. Such premium must be received at the Metropolitan School District Office, 0000 X. Xxxxxx Xxxxxx, no later than the first day of each month. Failure to meet said deadline shall result in cancellation of group hospital/medical coverage.
3. A retiree has the option to continue in the school district's health insurance plan and may buy two (2) single plans for the retiree and his spouse.
B. Upon the death of the retiree, the spouse of the retiree may participate in the group health insurance program prior to being eligible for Medicare or reaching the age of sixty-five (65), whichever comes first, provided the spouse does not remarry.
C. An employee who retires before age sixty-five (65) may continue to participate in dental insurance by paying the full cost of the insurance premium. Such premium must be received at the Metropolitan School District Office, no later than the first day of each month. Failure to meet said deadline shall result in cancellation of dental insurance coverage.
D. An employee who retires before age sixty-five (65) may continue to participate in vision insurance by paying the full cost of the insurance premium. Such premium must be received at the Metropolitan School District Office, no later than the first day of each month. Failure to meet said deadline shall result in cancellation of vision insurance coverage.
E. Insurance benefits for retired employees will be available only if provided by the school district insurance carriers. The school district and/or NEA Mt. Xxxxxx are not responsible to provide insurance coverage(s) or benefits if the retired employee or dependent(s) are not provided insurance coverage by the school district insurance carriers.
F. The retiree will become responsible for payment of all insurance benefit premiums effective at the first of the month following the receipt of the last regular payroll check.
