Post-Retirement Health Insurance. For those regular employees hired before December 31, 2008, post retirement health insurance is provided as part of the medical plan for the employee and his or her dependents. To be eligible an employee must meet CalPERS eligibility requirements, currently age 50 with a minimum of 5 years CalPERS service. For those regular employees hired on or after January 1, 2009, post retirement medical insurance is provided under G.C. 22893 rules and requires a minimum of ten years of compensated CalPERS service time (not including air time), with five of the ten years served at NCPA to receive 50% of the employer premium contribution for medical insurance. Each additional service credit year after ten (10) years increases the employer premium contribution percentage by 5% until twenty (20) years at which time the retiree is eligible for 100% of the employer premium contribution toward family coverage. Retirees may elect a monthly payment via check in-lieu of the medical insurance coverage if they present proof of alternate medical insurance. The amount of the monthly payment will be the same as for active employees (see Section 14.1).
Post-Retirement Health Insurance. For an ESP enrolled in the District insurance program at the time he/she files a notice of intent to retire, the Board will pay 50% of the Board insurance premium contribution for the applicable individual coverage for twenty-four (24) months following the employee’s retirement until Medicare eligible. With the exception of ESPs who submit a notice of intent to retire at the end of the 18-19 school year by October 1, 2018, an ESP who notifies the Superintendent he/she intends to retire at the end of the school year in which the notice of intent is served must do so by February 1 of that school year. The ESP shall receive only the unused accumulated sick leave payout and the post retirement health insurance benefit.
Post-Retirement Health Insurance. The Board shall provide the Superintendent with a post-retirement benefit in the amount of Twelve Thousand and Five Hundred Dollars ($12,500) annually for a period of five (5) years after the date of retirement for the Superintendent’s health insurance plan premiums. The parties understand and agree that this benefit is contingent upon the Superintendent fully completing the term of this Agreement as defined in Paragraph A.1.
Post-Retirement Health Insurance. Employees employed at the beginning of the 2016-2017 School Year who elected the retirement program prior to the 2016-2020 Contract shall continue to be eligible for the post-retirement health insurance program as it existed under the Contract in which they declared. For Employees retiring pursuant to this 2016 - 2020 contract, the Board will contribute an amount towards that retired Employee’s premium for health insurance coverage under the TRS Teachers’ Retirement Insurance Program (“TRIP”), for ten (10) years or until the retiree becomes Medicare eligible, whichever occurs first. The retired Employee shall not have the option of receiving this contribution in any other form. Recognizing that the deferred compensation program will not have time to adequately fund the retiree insurance benefit, the amount of the Board’s TRIP contribution shall be calculated based in part by offsetting the amount the Board has previously contributed to the retired Employee’s 403(b) benefit pursuant to Section 16.5 below. The calculation shall be as follows: • For purposes of the calculation of the TRIP benefit, a retired Employee’s “TRIP Eligibility Years” shall be equal to the age of Medicare eligibility (currently age 65) less the retired Employee’s age in years (or partial years) at the time of retirement from the District. • Divide the total amount the Board has contributed to the retired Employee’s 403(b) benefit (pursuant to Section 16.5 below) by the cost of the annual PPO TRIP premium (Employee plus 1/2 dependent or single based upon level of TRIP elected by retiring Employee) in effect at the time the Employee retires (resultant amount hereinafter referred to as the “403(b) factor.”) • Subtract the 403(b) factor from the TRIP Eligibility Years and divide the result by the TRIP Eligibility Years. Multiply the result by 100 to arrive at the percentage of the TRIP premium the Board will pay on behalf of the retired Employee for the duration set forth in the first paragraph of this section 16.3.2. • All percentages will be rounded to the thousandths (i.e. to the fourth decimal point). • Example Retiree, age 57 o Assuming district has contributed $10,651 to employee’s deferred compensation plan; o Assuming the current ANNUAL PPO TRIP premium at retirement is $15,396 for employee plus ½ dependent $10,651/$15,396 = .69 years’ worth of TRIP premium has already been contributed by district to deferred compensation plan; o At age 57, employee is TRIP eligible for 8 years un...
Post-Retirement Health Insurance. Any non-instructional employee covered by this agreement shall, upon retirement, be allowed to continue health insurance coverage through the Xxxxxx Central School District-sponsored health insurance program by paying the full cost of the applicable premium. The employee will be eligible only for such benefit level as he or she carried as an employee, or a lesser level. In addition, in accordance with the plan document, if the employee selects a lesser level of coverage (i.e.- going from family to two-person or single), he or she cannot return to any higher level. Retired employees are eligible for medical and prescription coverage only and not dental or vision coverage, except for such benefits as provided under COBRA. All premium payments must be paid quarterly on the date established by the District. Failure to make a timely payment will result in cancellation of the retired employee’s policy. Should such cancellation occur, the retired employee will hold the District harmless for any injury or damages that may occur as a result of the retired employee’s failure to make such payments.
Post-Retirement Health Insurance. 21.1 Employees to contribute two percent (2%) of gross wages for M.S.R.S. Post-Retirement Health Insurance Savings Plan.
Post-Retirement Health Insurance. Post retirement health insurance is presently provided as part of the medical plan for the employee and his or her spouse. The premium is paid the same as for active employees. NCPA to reimburse ½ of 20% co-insurance under PERS Choice Plan to match the co-pay under PERS Care Plan. Retirees must submit their Explanation of Benefit form to Plan Administrator showing co-insurance amount for reimbursement processing. To be eligible an employee must meet CalPERS eligibility requirements, currently age 50 with a minimum of 5 years service. Retirees and active employees may also receive a monthly payment if they elect to waive medical coverage and present proof of alternate medical insurance. The amount of the monthly payment will be: Retiree only coverage $100/mo. Retiree plus one coverage $150/mo.
Post-Retirement Health Insurance. If the Superintendent takes full retirement with the Virginia Retirement System while under contract with the Board or immediately following the end of the term of this Agreement, and subject to sufficient annual appropriations necessary for the Board to meet its obligations hereunder, then the Superintendent, upon such a retirement, may, at no cost to the Superintendent, elect to continue coverage under any plan and tier of health insurance being offered by the Board at that time. The post-retirement insurance coverage provided for herein shall continue for the shorter of seven years from the date of retirement or until such time as the Superintendent becomes eligible for Medicare.
Post-Retirement Health Insurance. Upon Xx. Xxxxxx’x separation from employment, the Board shall pay Xx. Xxxxxx’x full family health insurance for a period of months equal to the number of months from July 1, 2021 until his employment ends, rounding up to the next whole number. If Xx. Xxxxxx is deceased and his surviving spouse is eligible for Section 367J continuation or its equivalent and the spouse elects coverage thereunder, the Board shall pay the spouse’s full health insurance for the same period as in the prior sentence, but not less than 12 months.
Post-Retirement Health Insurance. Hired Prior to January 1, 2011 The Village agrees to continue to make available post-retirement health insurance benefits to all eligible bargaining unit employees hired prior to January 1, 2011. For purposes of this section, an eligible employee is one who was full-time immediately prior to retirement, submits an application and is approved for retirement benefits with the Illinois Municipal Retirement Fund at the time of separation from the Village, and has completed a minimum of twenty (20) years of continuous full time service with the Village. Employees who leave the employment of the Village for any reason other than retirement shall not be eligible for post-retirement health insurance benefits. The Village shall pay a portion of premiums for post-retirement health insurance benefits for eligible employees and any dependents currently covered by the Village's health insurance plan at retirement. Eligible employees or dependents who wish to continue his participation and coverage in the Village's health insurance program shall make payments to the Village for such continued health coverage at the same percentage rate for employee premium contributions as was in effect on such employee's last day of active employment. An eligible employee's spouse may continue to participate in the Village's post- retirement health insurance plan, except the Village shall no longer pay any of the premiums for such post-retirement health insurance benefit under the following circumstances:
