Twenty-Five-Year Retiree-Medical Benefit Sample Clauses

Twenty-Five-Year Retiree-Medical Benefit. For unit members who retire under a normal service retirement with a minimum of 25 years of continuous, full-time service to the City and having attained the retirement age of 50, the City will contribute up to $300 per month toward retiree- only or retiree-and-dependent (spouse/qualified domestic partner) medical insurance, or the dollar amount representing the maximum City contribution for active employee-only coverage under City group medical plans and group medical rates in effect at the time of retirement, whichever is greater; provided, however, that the maximum City contribution shall not exceed $532.16 per month. The retired employee and/or dependent is/are responsible for paying any co-payments required by the health care provider and/or any additional premium payments above the City’s maximum monthly contribution. The retiree and/or dependent portion of the monthly contribution shall be paid to the City during the first week of each month, with a grace period not to exceed 30 days. Late payments for health care coverage that exceed the 30-day grace period shall be cause for automatic disenrollment in the City’s group health plans. Conditions for health care coverage, enrollment, and processing procedures are established in accordance with legal requirements and conditions set by applicable health insurance carriers. At age 65, the retiree and/or dependent is/are responsible for coordinating his/her/their City-provided medical plan with Medicare.
Sample 1Sample 2
AutoNDA by SimpleDocs
Twenty-Five-Year Retiree-Medical Benefit. For management employees who retire under a normal service retirement with a minimum of 25 years of continuous, full-time service to the City (or employees with a minimum of 30 years of cumulative, full-time service to the City, of which a minimum of 10 years are continuous and contiguous to the date of retirement), and having attained the retirement age of 50, the City will contribute up to $551 per month toward retiree-only or retiree-and-dependent (spouse/qualified domestic partner) medical insurance, or the dollar amount representing the maximum City contribution for employee-and-dependent coverage under City group medical plans and group medical rates in effect at the time of retirement, whichever is less. The retiree and/or dependent is/are responsible for paying any co-payments required by the health care provider and/or any additional premium payments above the City's maximum monthly contribution. The retiree portion of the monthly contribution shall be paid during the first week of each month, with a grace period not to exceed 30 days. Late payments for health care coverage that exceed the 30-day grace period shall be cause for automatic disenrollment in the City's group health plans. Conditions for health care coverage, enrollment, and processing procedures are established in accordance with legal requirements and conditions set by applicable health insurance carriers. For retired employees enrolled in a retiree-only medical plan, the City will contribute toward the retiree's monthly dental and optical premiums in lieu of contributing to dependent coverage. Selection of this option and enrollment in a City group dental and/or optical plan must be completed prior to the actual date of retirement. Enrollment/reenrollment after retirement is not permitted. In no event, however, will the City's combined contributions toward medical, dental, and optical insurance premiums exceed $551, or the dollar amount representing the maximum City contribution for employee-and-dependent coverage under City group medical plans and group medical rates, whichever is less. At age 65, the retiree and/or dependent is/are responsible for coordinating the City- provided medical care plan with Medicare.
Sample 1
Twenty-Five-Year Retiree-Medical Benefit. For unit members who retire under a normal service retirement with a minimum of 25 years of continuous, full-time service to the City and having attained the retirement age of 50, the City will contribute up to $532.16 per month toward retiree-only medical insurance, or the dollar amount representing the maximum City contribution for employee-only coverage under City group medical plans and group medical rates in effect at the time of retirement, whichever is less. The retiree is responsible for paying any co-payments required by the health care provider and/or any additional premium payments above the City's maximum monthly contribution. The retiree portion of the monthly contribution shall be paid to the City during the first week of each month, with a grace period not to exceed 30 days. Late payments for health care coverage that exceed the 30-day grace period shall be cause for automatic disenrollment in the City's group health plans. Conditions for health care coverage, enrollment, and processing procedures are established in accordance with legal requirements and conditions set by applicable health insurance carriers. At age 65, the retiree is responsible for coordinating his/her City-provided medical care plan with Medicare.
Sample 1

Related to Twenty-Five-Year Retiree-Medical Benefit

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Dental Benefit (1) A confirmed staff shall be eligible for reimbursement of expenses incurred for restorative and preventive dental treatment up to $150 per calendar year.

  • Re-employment After Retirement Employees who have reached retirement age as prescribed under the Pension (Municipal) Act and continue in the Employer's service, or are re-engaged within three (3) calendar months of retirement, shall continue at their former increment step in the pay rate structure of the classification in which they are employed, and the employee's previous anniversary date shall be maintained. All perquisites earned up to the date of retirement shall be continued or reinstated.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who:

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • Basic Benefit Effective January 1, 2008, the basic life insurance benefit will be increased from $15,000 to $18,000 for employees. This shall be the default level of life insurance coverage, which shall be provided at no cost to the employee.

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Public Benefit It is Reaction Retail’s understanding that the commitments it has agreed to herein, and actions to be taken by Reaction Retail under this Settlement Agreement, would confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of Reaction Retail that to the extent any other private party initiates an action alleging a violation of Proposition 65 with respect to Reaction Retail’s failure to provide a warning concerning exposure to DEHP prior to use of the Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Products addressed in this Settlement Agreement, provided that Reaction Retail is in material compliance with this Settlement Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.