Common use of Retirement Insurance Program Clause in Contracts

Retirement Insurance Program. If EMPLOYEE retires after age fifty (50), and prior to age sixty-five (65), and has served the DISTRICT for ten (10) consecutive years prior to retirement, the DISTRICT will contribute eighty percent (80%) of the DISTRICT’s normal contribution for active employees’ health coverage, up to a maximum of $2,400 per year. This benefit will cease upon EMPLOYEE reaching age sixty-five (65). Upon EMPLOYEE’s death after retirement, EMPLOYEE’s surviving spouse shall not be eligible for this benefit. Should EMPLOYEE have retired and have served the DISTRICT for a minimum of fifteen (15) consecutive years immediately prior to retiring, the DISTRICT shall contribute a maximum of two hundred thirteen dollars and thirty-two cents ($213.32) per month toward the health insurance supplement to Medicare, or the cost of the health insurance supplement to Medicare, whichever is less, until EMPLOYEE reaches age seventy (70). Upon death of EMPLOYEE, surviving spouse shall not be eligible for any benefit contribution. EMPLOYEE shall be eligible to receive the DISTRICT contribution toward the designated retiree health care supplement as mutually determined by the Parties. To be eligible for this benefit, EMPLOYEE shall have attained the age of sixty-five (65). Coverage shall continue until age seventy (70). Upon death of EMPLOYEE, surviving spouse shall not be eligible for any benefit contribution. To be eligible for this option, EMPLOYEE must have attained age fifty-five (55), and have served the DISTRICT a minimum of ten (10) years. Should EMPLOYEE retire early (prior to age 65), and wish to continue coverage under the DISTRICT’s health insurance program, the DISTRICT will contribute a maximum of seventy percent (70%) of the DISTRICT’s contribution to the premium of the health insurance program. This benefit terminates when EMPLOYEE reaches age sixty-five (65) at which point EMPLOYEE shall no longer be eligible to receive a DISTRICT contribution toward the health insurance premium. EMPLOYEE and EMPLOYEE’s spouse may continue to participate in the DISTRICT health insurance program at their own expense.

Retirement Insurance Program. If EMPLOYEE retires after age fifty (50), and prior to age sixty-five (65), and has served the DISTRICT for ten (10) consecutive years prior to retirement, the DISTRICT will contribute eighty percent (80%) of the DISTRICT’s normal contribution for active employees’ health coverage, up to a maximum of two thousand four hundred dollars ($2,400 2,400.00) per year. This benefit will cease upon EMPLOYEE reaching age sixty-five (65). Upon EMPLOYEE’s death after retirement, EMPLOYEE’s surviving spouse shall not be eligible for this benefit. Should EMPLOYEE have retired and have served the DISTRICT for a minimum of fifteen (15) consecutive years immediately prior to retiring, the DISTRICT shall contribute a maximum of two hundred thirteen dollars and thirty-two cents ($213.32) per month toward the health insurance supplement to Medicare, or the cost of the health insurance supplement to Medicare, whichever is less, until EMPLOYEE reaches age seventy (70). Upon death of EMPLOYEE, surviving spouse shall not be eligible for any benefit contribution. EMPLOYEE shall be eligible to receive the DISTRICT contribution toward the designated retiree health care supplement as mutually determined by the Parties. To be eligible for this benefit, EMPLOYEE shall have attained the age of sixty-five (65). Coverage shall continue until age seventy (70). Upon death of EMPLOYEE, surviving spouse shall not be eligible for any benefit contribution. To be eligible for this option, EMPLOYEE must have attained age fifty-five (55), and have served the DISTRICT a minimum of ten (10) years. Should EMPLOYEE retire early (prior to age 65), and wish to continue coverage under the DISTRICT’s health insurance program, the DISTRICT will contribute a maximum of seventy percent (70%) of the DISTRICT’s contribution to the premium of the health insurance program. This benefit terminates when EMPLOYEE reaches age sixty-five (65) at which point EMPLOYEE shall no longer be eligible to receive a DISTRICT contribution toward the health insurance premium. EMPLOYEE and EMPLOYEE’s spouse may continue to participate in the DISTRICT health insurance program at their own expense.

Retirement Insurance Program. If EMPLOYEE retires after age fifty (50), and prior to age sixty-five (65), and has served the DISTRICT for ten (10) consecutive years prior to retirement, the DISTRICT will contribute eighty percent (80%) of the DISTRICT’s normal contribution for active employees’ health coverage, up to a maximum of two thousand four hundred dollars ($2,400 2,400.00) per year. This benefit will cease upon EMPLOYEE reaching age sixty-five (65). Upon EMPLOYEE’s death after retirement, EMPLOYEE’s surviving spouse shall not be eligible for this benefit, until the surviving spouse reaches age sixty (60). The surviving spouse’s benefit terminates on the date the surviving spouse reaches age sixty- five (65). Should EMPLOYEE have retired and have served the DISTRICT for a minimum of fifteen (15) consecutive years immediately prior to retiring, the DISTRICT shall contribute a maximum of two hundred thirteen dollars and thirty-two cents ($213.32) per month toward the health insurance supplement to Medicare, or the cost of the health insurance supplement to Medicare, whichever is less, until for the life of the EMPLOYEE reaches age seventy and EMPLOYEE’S spouse. The maximum DISTRICT contribution in effect on July 1, 2016, shall be increased annually by two percent (70). Upon death of EMPLOYEE, surviving spouse shall not be eligible for any benefit contribution2%) each year on September 1 thereafter. EMPLOYEE shall be eligible to receive the DISTRICT contribution toward the designated retiree health care supplement as mutually determined by the Parties. To be eligible for this benefit, EMPLOYEE shall have attained the age of sixty-five (65). Coverage shall continue until age seventy (70). Upon death for the life of the EMPLOYEE or the EMPLOYEE, ’s surviving spouse shall not be eligible for any benefit contributionspouse. To be eligible for this option, EMPLOYEE must have attained age fifty-five (55), and have served the DISTRICT a minimum of ten (10) years. Should EMPLOYEE retire early (prior to age 65), and wish to continue coverage under the DISTRICT’s health insurance program, the DISTRICT will contribute a maximum of seventy percent (70%) of the DISTRICT’s contribution to the premium of the health insurance program. This benefit terminates when EMPLOYEE reaches age sixty-five (65) at which point EMPLOYEE shall no longer be eligible to receive a DISTRICT contribution toward the health insurance premium. EMPLOYEE and EMPLOYEE’s spouse may continue to participate in the DISTRICT health insurance program at their own expense.