Retirements After Age. 62--Employees Hired Before May 16, 1992 ----------------------------------------------------------------
(a) For those retirees who were employed by the Company as of May 16, 1992, and who retire between May 16, 1995 and December 31, 1995, on or after reaching age 62 with 10 or more years of service, the Company will furnish until age 65 coverage under a plan providing benefits equivalent to the Blue Cross & Blue Shield of Connecticut Century 2000 Plan (effective January 1, 1996, the Blue Cross & Blue Shield of Connecticut Century Preferred Plan) at no cost to the retiree.
(b) For those retirees who were employed by the Company as of May 16, 1992, and who retire after December 31, 1995, on or after reaching age 62 with 10 or more years of service, the Company will make available until age 65 coverage under a plan providing benefits equivalent to the Blue Cross & Blue Shield of Connecticut Century Preferred Plan. The retiree shall pay 5% of the cost of the premiums (6% effective January 1, 1997 and 7% effective January 1, 1998) for such coverage, and the Company shall pay the remaining cost of the premiums; provided, however, that the Company will pay the entire cost of such premiums for employees who elect early retirement under the voluntary early retirement program agreed upon by the Company and the Union as of May 16, 1995.
(c) For those retirees who were employed by the Company as of May 16, 1992, and who retire on or after reaching age 62, the Company will furnish or make available commencing at age 65 coverage under a Medicare supplemental plan that will provide with Medicare, if available, benefits equivalent to the Blue Cross 65 High Option Health Insurance Plan and Blue Shield 65--Plan 83 Health Insurance Plan. The cost of such coverage shall be borne by the Company.
(d) For those retirees who were employed by the Company as of May 16, 1992, and who retire on or after reaching age 62, the Company will make available to such retirees coverage under a plan providing benefits equivalent to the Blue Cross & Blue Shield of Connecticut Dental Plan, Option B applicable to bargaining unit employees, at no cost to the Company.
Retirements After Age. 55 With 10 Years of Service -------------------------------------------------
(a) For retirees who at the time of retirement are at least age 55 with at least ten years of service, but who do not qualify for a subsidized medical benefit per item 2 below, the Company will make available until age 65 coverage under plans providing benefits equivalent to the Blue Cross & Blue Shield of Connecticut BlueCare Plus POS Plan and the Blue Cross & Blue Shield of Connecticut Dental Plan, Option B applicable to bargaining unit employees, all at no cost to the Company.
(b) For retirees who at the time of retirement are at least age 55 with at least ten years of service, but who do not qualify for a subsidized medical benefit per item 2 below, the Company will make available commencing at age 65 coverage under a Medicare supplemental plan that will provide with Medicare, if available, benefits equivalent to the Blue Cross 65 High Option Health Insurance Plan and Blue Shield 65-Plan 83 Health Insurance Plan at no cost to the Company.
Retirements After Age. 55 With 10 Years of Service --------------------------------------------------
(a) For retirees who at the time of retirement are at least age 55 with at least ten years of service, but who do not qualify for a subsidized medical benefit per item 2 below, the Company will make available until age 65 coverage under plans providing benefits equivalent to the Blue Cross & Blue Shield of Connecticut BlueCare Plus POS Plan (effective January 1, 2003, the Health Net HMO Plan, subject to Article VII, Section 8) and the Blue Cross & Blue Shield of Connecticut Dental Plan, Option B applicable to bargaining unit employees, all at no cost to the Company.
(b) For retirees who at the time of retirement are at least age 55 with at least ten years of service, but who do not qualify for a subsidized medical benefit per item 2 below, the Company will make available commencing at age 65 coverage under a Medicare supplemental plan that will provide with Medicare, if available, benefits equivalent to the Blue Cross 65 High Option Health Insurance Plan and Blue Shield 65-Plan 83 Health Insurance Plan at no cost to the Company.
Retirements After Age. 62 With 20 Years of Service ------------------------------------------------- For retirees who at the time of retirement are at least age 62 with at least 20 years of service, the Company will make available the same health and dental insurance benefits described in paragraphs 2(a) through 2(c) above on the same terms and conditions as set forth in paragraphs 2(a) through 2(c) above.
