Retiree Medical definition

Retiree Medical. For persons retiring after City Council approval of this MOU, Increase the monthly retiree medical amount for each year of pensionable service for persons with 20 full years of pensionable service from $10 to $20 Holidays (Article 2, Section 5): Continue holiday closures described in Article 2, Section 5 during term of MOU (Note: for first year, the dates would be 12/24/18 to 1/4/19. Vacation Sell Back (Article 4, Section 7):
Sample 1
Retiree Medical. Retirees who have twenty (20) or more years’ service with the City shall have the same medical, dental, and vision retirement benefits up to the City paid maximum contribution (City maximum) or the premium of the health plan selected by the employee (whichever is lower) as compared to current active employees enrolled in the PORAC for eligible employees and PERS Choice Blue Cross plan for Misc and Safety Employees. Once a retiree becomes eligible for Medicare the City shall reimburse for the CalPERS supplemental medical premium for employee only coverage. Distributions for Qualified Health, and Long-term Care Premiums: Retired or disabled Firefighters may elect to have a maximum of $3,000 per year subtracted from their 457 plan distributions and sent directly to a health or long term care provider to pay premiums. A retired or disabled Firefighter may elect to have these amounts excluded from gross income for federal income tax purposes. To receive this favorable tax treatment, the retired or disabled public officers must make this election on their federal income tax returns.
Sample 1
Retiree Medical. Retirees who have twenty (20) or more years’ service with the City shall have the same medical, dental, and vision retirement benefits up to the City paid maximum contribution (City maximum) or the premium of the health plan selected by the employee (whichever is lower) as compared to current active employees enrolled in the PERS Choice Blue Cross plan. Once a retiree becomes eligible for Medicare the City shall reimburse for the CalPERS supplemental medical premium for employee only coverage. Distributions for Qualified Health, and Long-term Care Premiums: Retired or disabled public safety officers (Firefighters) may elect to have a maximum of $3,000 per year subtracted from their 457 plan distributions and sent directly to a health or long term care provider to pay premiums. A retired or disabled public safety officer may elect to have these amounts excluded from gross income for federal income tax purposes. To receive this favorable tax treatment, the retired or disabled public officers must make this election on their federal income tax returns.
Sample 1

Examples of Retiree Medical in a sentence

  • Effective August 1, 1993, and as amended by the Board of Supervisors, the County implemented a Retiree Medical Plan (“the Plan”) for employees who have retired from County service and who meet certain eligibility requirements of the Plan.

  • Contributions shall be transferred to the County of Orange Retiree Medical Trust.

  • Upon paid County retirement, if eligible, a retiree shall receive a Retiree Medical Grant (Grant).

  • Medicare coverage is primary for retirees over 65, and for totally disabled employees who qualify for Medicare, and must coordinate with the UPlan Retiree Medical plan options.

  • If the monthly allocation exceeds the cost of the options selected, the excess is deposited into a Retiree Medical Account that can be used to fund future health care expenses.

  • Employee contributions shall be remitted bi-weekly, in one aggregate ACH transfer to the custodian of the Retiree Medical Trust, accompanied by a list of the employees for whom the contributions are made.

  • The ARHCT and Retiree Medical Plan’s reserve estimates are based primarily on historical development patterns adjusted for current trends that would modify past experience.

  • Such retiree shall not be eligible for both Retiree Medical Insurance Grants.

  • Employees shall not accumulate additional service hours or credit toward eligibility for the Retiree Medical Grant as of June 16, 2023.

  • In no case shall the Retiree Medical Insurance Grant exceed the actual cost of the health insurance and/or Medicare premiums.


More Definitions of Retiree Medical

Retiree Medical. Retirees who have twenty (20) or more years’ service with the City shall have the same medical, dental, and vision retirement benefits up to the City paid maximum contribution (City maximum) or the premium of the health plan selected by the employee (whichever is lower) as compared to current active employees enrolled in the PORAC plan for eligible employees and PERS Choice Blue Cross plan for Misc and Safety Employees. Once a retiree becomes eligible for Medicare the City shall reimburse for the CalPERS supplemental medical premium for employee only coverage.
Sample 1
Retiree Medical has the meaning given such term in Section 4.6.
Sample 1

Related to Retiree Medical

  • Retiree means any person who has begun accruing a retirement

  • Retiree Health Plan means an "employee welfare benefit plan" within the meaning of Section 3(1) of ERISA that provides benefits to individuals after termination of their employment, other than as required by Section 601 of ERISA.

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Health benefits plan means a benefits plan which pays or

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Former Employees means Former Parent Group Employees and Former SpinCo Group Employees.

  • Union Employees has the meaning set forth in Section 6.12(a).

  • Health and Welfare Benefits means any form of insurance or similar benefit programs, which may include but not be limited to, medical, hospitalization, surgical, prescription drug, dental, optical, psychiatric, life, or long-term disability.

  • Medical means belonging to the study and practice of medicine for the prevention, alleviation or management of a physical or mental defect, illness, or condition.

  • Company Employees shall have the meaning set forth in Section 6.10(a).

  • Welfare Benefits means the types of benefits described in Section 3(1) of ERISA (whether or not covered by ERISA).

  • Dental means of or relating to the teeth and the work of a dentist.

  • Health means physical or mental health; and

  • Retirement program means a program of rights and obligations which a county, city, village, or township establishes, maintains, or participates in and which, by its express terms or as a result of surrounding circumstances, does 1 or more of the following:

  • Seller 401(k) Plan shall have the meaning set forth in Section 6.01(i).

  • Continuing Employees shall have the meaning set forth in Section 6.9(a).

  • Continuing care retirement community means a residential

  • Retiree Welfare Plan means, at any time, a Welfare Plan that provides for continuing coverage or benefits for any participant or any beneficiary of a participant after such participant's termination of employment, other than continuation coverage provided pursuant to Section 4980B of the IRC and at the sole expense of the participant or the beneficiary of the participant.

  • Company Employee Agreement means each management, employment, severance, retention, transaction bonus, change in control, consulting, relocation, repatriation or expatriation agreement or other Contract between: (a) any of the Company Entities or any Company Affiliate; and (b) any Company Associate, other than any such Contract that is terminable “at will” (or following a notice period imposed by applicable Legal Requirements) without any obligation on the part of any Company Entity or any Company Affiliate to make any severance, termination, change in control or similar payment or to provide any benefit.

  • Supplemental Retirement Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

  • Medicare benefit means the Medicare benefit payable within the meaning of Part II of the Health Insurance Act 1973 with respect to a professional service.

  • Company 401(k) Plan shall have the meaning set forth in Section 6.09(e).