Common use of Retirement Insurance Clause in Contracts

Retirement Insurance. The district shall contribute toward the premium for medical (health and hospitalization) insurance under the same conditions as an employed office employee, but not to exceed 80% of the premium, for six (6) years for any office employee who was enrolled in the plan prior to retirement and who retires upon attaining age fifty-five (55) and has a minimum of ten (10) years employment in the Northfield Public Schools. Office employees electing to receive this medical insurance benefit must make timely payments of his/her portion of the insurance premium cost in order to remain eligible for the benefit. Coverage will be available to a retired office employee who has group medical insurance available from another employer. However, such other employer’s insurance must be taken and will be considered primary coverage.