Termination of Insurance Benefit. The following provisions will govern the termination of insurance benefit premium payments in the event of a retirement or resignation:
12.14.1 Except as set forth in Section 12.14.2 below, benefit payments will discontinue the end of the month that contains the effective date of the Employee’s resignation or retirement.
12.14.2 Employees who are retiring at the completion of the full academic year under MPSERS or the optional retirement plan in section
a. The Employee’s retirement application with MPSERS will request insurance benefit initiation effective the first day of the month following the effective date of the Employee’s resignation (i.e., if the effective date is May 15, benefit initiation must be requested for June 1).
b. When the Employee receives written notification from the State Retirement System as to the effective date of his/her benefits, the Employee will provide a copy to the College’s Human Recourses Department.
Termination of Insurance Benefit. The following provisions will govern the termination of insurance benefit premium payments in the event of a retirement or resignation:
a. Except as set forth in Section 12.14.b below, benefit payments will discontinue the end of the month that contains the effective date of the Employee’s resignation or retirement.
b. Employees who are retiring at the completion of the full academic year under MPSERS or the optional retirement plan in section 12.13 above will make application to MPSERS for retirement benefits by March 31st. Upon submission of the application to MPSERS, the Employee will provide a copy to the Human Resources Department.
1. The Employee’s retirement application with MPSERS will request insurance benefit initiation effective the first day of the month following the effective date of the Employee’s resignation (i.e., if the effective date is May 15, benefit initiation must be requested for June 1).
2. When the Employee receives written notification from the State Retirement System as to the effective date of his/her benefits, the Employee will provide a copy to the College’s Human Recourses Department.
3. The Employer will continue all insurance benefit payments through the end of the month containing the effective date of the resignation. The Employer will continue to pay hospitalization plan premium payments beyond this date if there is a period of time (maximum of three months) between the Employee’s effective date of resignation and the initiation of benefits under the MPSERS plan.
4. The College President and Faculty Council President may, as they deem appropriate in an individual case involving extenuating circumstances, mutually agree to extend the three (3) month time period in Section 12.14.b.3 above, where hospitalization insurance benefit implementation by MPSERS is delayed.
c. In that there are no insurance benefits under the option plan in Section 12.13, Employees will receive hospitalization plan premium payments where appropriate for June, July and August.
