Post-Retirement Benefit. Only employees hired on or before January 1, 2007 are eligible for this benefit. Upon early retirement, the Employer will pay an amount not to exceed $731.50 per month towards the cost of single health insurance up to three years, not to exceed the employee’s 65th birthday with the condition the employee is eligible for PERA and has twenty (20) or more years of service.
Post-Retirement Benefit. Any member of the bargaining unit who 1) achieves at least 15 or more years of full time service with the District; 2) is at least 55 years of age; and 3) notifies the Superintendent or designee in writing of their desire to retire no later than seven (7) months immediately prior to the date of retirement and no earlier than 9 months prior to the date of retirement is eligible to receive a post retirement benefit of $2,500, provided the employee’s retirement date is prior to the end of the term of this collective bargaining agreement. Payment for the post retirement benefit will occur 2 months after the employee’s retirement date. If the Employee experiences a life-altering event that may prevent the ability to provide such notice, or to complete the school year in which notice has been given, the Board may provide the above listed salary increase.
Post-Retirement Benefit. The Board shall pay to an eligible retiring Teacher a post-retirement benefit, not to be included as TRS earnings. This benefit shall be calculated as thirty-five percent (35%) of the sum of the Teacher’s total extended service stipends in the year of retirement plus the salary amount reflecting his/her lane and step equivalent to his/her years of full-time consecutive service in the District. The Board shall pay the post- retirement benefit to the retired teacher in the July following retirement.
Post-Retirement Benefit. In consideration of the Xx. Xxxxxxx’x past services to the Company, the Company hereby agrees to pay a post-retirement benefit to Xx. Xxxxxxx in the amount of $30,000 per annum during his lifetime. Such amount shall be paid in equal quarterly installments. Xx. Xxxxxxx acknowledges that taxes including, without limitation, state and federal income tax, social security and Medicare, will be withheld from this amount to the extent required by law. In addition, for each of their lifetimes, Xx. Xxxxxxx and his spouse shall be fully eligible to participate in the group health insurance maintained by the Company, currently the Dollar Tree Stores, Inc. Group Health Benefit Plan or any successor group health insurance (the “Plan”); provided however, that the cost of such insurance shall be paid by Xx. Xxxxxxx or his spouse.
Post-Retirement Benefit. In the event the Employee dies after ----------------------- Monthly Benefit payments commence but before receiving the total number of Monthly payments, the Company shall continue the payments until the balance of the Monthly Benefit set forth in Section 2 had been paid to whomever the Employee has designated in writing or, if no such designation has been made, to the Employee' s spouse, if 1iving, otherwise to the Employee's estate.
Post-Retirement Benefit. Upon the death of Employee before
Post-Retirement Benefit. The following benefits comprise the Post-Retirement Benefit:
Post-Retirement Benefit. Eligible employees may elect post-retirement benefits under either Option A or Option B. Option A- Eligible employees may choose to receive a maximum of five (5) years of single health insurance if enrolled in the TRS health insurance plan up to a maximum Board contribution of $5,000 annually. This post-retirement health insurance contribution will be immediately discontinued if the retiree elects an alternative health plan other than TRS, reaches age 65, or is otherwise eligible for Medicare, whichever occurs first. Option B- Eligible employees may choose to take a one-time post-retirement payment of $18,500 towards a 403b payable within 60 days after July 1st of the last year of the teacher’s employment provided such employer contribution does not exceed the annual IRS limit.
Post-Retirement Benefit. Employees who have ten (10) or more years of full time service in the District and who retire from the District, shall receive a post retirement benefit. $10,000 for ten years of service and $500 for every year thereafter up to $15,000 cap. This post retirement benefit shall conclude on June 30, 2024 to receive the post retirement payment set forth above. The benefit will then cease to exist upon the expiration of this contract and no other individuals retiring after June 30, 2024 shall be eligible for said benefit.
Post-Retirement Benefit. For members hired at RCC prior to July 1, 2006, a post-retirement benefit plan will provide group health insurance for PERS retirees who have at least ten (10) years of continuous eligibility for College-paid health insurance benefits in faculty, classified, and/or exempt employment, in any combination, at RCC and are at least age 58 or have 30 years in PERS. Single, employee + spouse, or employee + child(ren) coverage will be offered, up to the member’s level of eligibility at retirement. Any higher level of coverage may be added at the retiree’s expense. Eligibility and availability of any post-retirement health insurance coverage is subject to federal, state, and insurance carrier regulations. For members hired at RCC on or after July 1, 2006, a post-retirement benefit plan will provide group health insurance for PERS retirees who have at least fifteen (15) years of continuous eligibility for College-paid health insurance benefits in faculty, classified, and/or exempt employment, in any combination, at RCC and are at least age 58. Single coverage will be offered, if the member was eligible for single coverage at retirement. Any higher level of coverage may be added at the retiree’s expense. Eligibility and availability of any post-retirement health insurance coverage is subject to federal, state, and insurance carrier regulations. The college-paid portion of the premium will be capped at the college- paid amount in effect at the time of retirement of the offered coverage selected. If the level of coverage decreases, the capped amount will change to the current college-paid amount in effect for the new level. In no case will the new capped amount exceed the prior capped amount. The retiree must pay any increase in premium or the coverage will cease. The insurance coverage will be continued until the retiree reaches age 65 or becomes eligible for Medicare, whichever comes first.
