Common use of Vested Status Clause in Contracts

Vested Status. An employee who is eligible to vest his/her retirement and who has ten (10) years of BOCES service and who is either age 50 or within five (5) years of retirement under either the New York State Teachers' Retirement System or the New York State Employees' Retirement System who terminates employment may continue in the group insurance provided full payment of the premium is made. To continue coverage as a vestee, enrollee must pay the full cost of coverage. When the enrollee is eligible to receive a retirement allowance the enrollee will be required to pay only the enrollee's share of the cost. To be eligible to continue coverage as a retiree, the enrollee must have been enrolled during the entire time (s)he was in vested status. Any interruption of coverage because of failure to remit payments for the full cost of coverage will disqualify the enrollee from continuation of coverage in retirement. Death of Enrollee - Survivor Coverage Coverage will continue for three (3) months without cost to the presently enrolled and covered dependent(s). If the deceased employee had ten (10) years of BOCES service, the surviving dependent(s) can continue in the group by paying the full premium. If the deceased employee had less than ten (10) years of BOCES service and death was due to a work related accident, the surviving dependent(s) can continue in the group by paying the full premium.

Vested Status. An employee who is eligible to vest his/her retirement and who has ten fifteen (1015) years of BOCES service and who is either age 50 or within five (5) years of retirement under either the New York State Teachers' Retirement System or the New York State Employees' Retirement System who terminates employment may continue in the group insurance provided full payment of the premium is made. To continue coverage as a vestee, enrollee must pay the full cost of coverage. When the enrollee is eligible to receive a retirement allowance the enrollee will be required to pay only the enrollee's share of the cost. To be eligible to continue coverage as a retiree, the enrollee must have been enrolled during the entire time (s)he was in vested status. Any interruption of coverage because of failure to remit payments for the full cost of coverage will disqualify the enrollee from continuation of coverage in retirement. Death of Enrollee - Survivor Coverage Coverage will continue for three (3) months without cost to the presently enrolled and covered dependent(s). If the deceased employee had ten (10) years of BOCES service, the surviving dependent(s) can continue in the group by paying the full premium. If the deceased employee had less than ten (10) years of BOCES service and death was due to a work related accident, the surviving dependent(s) can continue in the group by paying the full premium.

Vested Status. An employee who is eligible to vest his/her their retirement and who has ten fifteen (1015) years of BOCES ofBOCES service and who is either age 50 or within five (5) years of retirement under either the New York State Teachers' Retirement System or the New York State Employees' Retirement System who terminates employment may continue in the group insurance provided full payment of the premium is made. To continue coverage as a vestee, enrollee must pay the full cost of coverage. When the enrollee is eligible to receive a retirement allowance the enrollee will be required to pay only the enrollee's share of the cost. To be eligible to continue coverage as a retiree, the enrollee must have been enrolled during the entire time (s)he was in vested status. Any interruption of coverage because of failure to remit payments for the full cost of coverage will disqualify the enrollee from continuation of coverage in retirement. Death of Enrollee - Survivor Coverage Coverage will continue for three (3) months without cost to the presently enrolled and covered dependent(s). If the deceased employee had ten (10) years of BOCES service, the surviving dependent(s) can continue in the group by paying the full premium. If the deceased employee had less than ten (10) years of BOCES service and death was due to a work work-related accident, the surviving dependent(s) can continue in the group by paying the full premium.