Common use of Benefit Contributions Clause in Contracts

Benefit Contributions. Unit members who have rendered at least ten (10) years of service to the District and who are at least fifty‐ five years (55) of age, but who do not contract with the District as an independent contractor (Article 8.1), and who do not opt to accept the benefit described under Article 8.2, are entitled to receive health and welfare contributions of up to three hundred forty‐seven ($347) dollars per month to be used for health costs per 8.3.1 and 8.3.2 including Medicare Part B at the age of 65, effective for unit members who retire on or after June 13, 2003, Such contributions will continue for a maximum of ten (10) years. Retirees who accept this benefit may pay the difference between fringe benefits received upon retirement and the amount necessary to cover those benefits they select. Once the District contributions expire, retirees can pay for medical, dental, and vision coverage at the group rate at their own expense.