Common use of Extension of Health/Hospitalization Insurance for Retirees Clause in Contracts

Extension of Health/Hospitalization Insurance for Retirees. Any employee who is a participant in the School District’s health and hospitalization insurance plan as described in Article 10, Section 1 and who retires following fifteen (15) years of employment in the School District and is 55 years of age or older, may extend their insurance coverage by converting 1/3 of the cash value of their unused sick days, up to 130 days, at the time of retirement and applying it towards the employee portion of insurance premium until the cash value is exhausted. The School District shall deposit the total amount in the employee’s name in the Post-Retirement Health Care Savings Plan, administered by the Minnesota State Retirement System.

Extension of Health/Hospitalization Insurance for Retirees. Any employee who is a participant eligible to participate in the School District’s health and hospitalization insurance plan as described in Article 10, Section 1 VII and who retires following fifteen (15) years of employment in the School District and is 55 years of age or older, may extend their insurance coverage shall receive an amount obtained by converting 1/3 of the cash value of their his/her unused sick days, up to 130 days, days at the time of retirement and applying it towards the employee portion of insurance premium until the cash value is exhaustedretirement. The School District shall deposit the total amount in the employee’s name in the Post-Retirement Health Care Savings Plan, administered by the Minnesota State Retirement System.

Extension of Health/Hospitalization Insurance for Retirees. Any employee who is a participant in the School District’s 's health and hospitalization insurance plan as described in Article 10XIX, Section 1 2 and who retires following fifteen (15) years of employment employement in the School District and is 55 years of age or older, may extend their his/her insurance coverage by converting 1/3 of the cash value of their his/her unused sick days, days up to 130 days, a maximum of 140 days at the time of retirement and applying it towards the employee portion of insurance premium premiums until the cash value is exhausted. The School District shall deposit the total amount in the employee’s 's name in the Post-Retirement Health Care Savings Plan, administered by the Minnesota State Retirement System. The employee's daily rate of pay shall be based on the employee's assignment over the twelve months immediately preceding retirement and shall not include any additional compensation for overtime or additional services.

Extension of Health/Hospitalization Insurance for Retirees. Any employee who is a participant eligible to participate in the School District’s health and hospitalization insurance plan as described in Article 10, Section 1 VII and who retires following fifteen (15) years of employment in the School District and is 55 years of age or older, may extend their insurance coverage shall receive an amount obtained by converting 1/3 of the cash value of their his/her unused sick days, up to a maximum of 130 days, at the time of retirement and applying it towards the employee portion of insurance premium until the cash value is exhaustedretirement. The School District shall deposit the total amount in the employee’s name in the Post-Retirement Health Care Savings Plan, administered by the Minnesota State Retirement System.