Regular Retirement Sample Clauses

Regular Retirement. Any full-time member of the unit, plus his/her dependent(s) who receives the District-provided health insurance plan (Section 7.3 and Section 7.14) will also receive said benefit as provided to current active employees after retirement. Retirees may continue to receive dental and vision benefits (Section 7.4) at their own cost in accordance with federal and state regulations in effect at the time. In order to qualify for these retirement benefits described in this section, unit members must have first met the following conditions: 7.13.1 Has attained the age of fifty-five (55) years with fifteen (15) or more years of service including out-of-the district allowable service credit as a certificated employee of the Redlands Unified School District. 7.13.2 Will be receiving monthly retirement benefits from the State Teachers Retirement System. 7.13.3 Was a full-time employee of the Redlands Unified School District for the five (5) years immediately preceding retirement or was a full-time employee for not less than ten (10) years of the twelve (12) years immediately preceding retirement. 7.13.4 Has submitted a letter of resignation for purposes of retirement to the District on or before March 15, or ninety (90) calendar days prior to the effective date of retirement, whichever is earlier. If good cause exists for the failure to comply with this time constraint, this requirement may be waived. 7.13.5 Coverage under the District-paid health insurance plan (Section 7.3) will terminate the first day of the month in which the retired employee reaches his/her sixty-fifth (65th) birthday or when he/she becomes eligible for full Medicare benefits, whichever comes first. 7.13.6 Contingent upon agreement of the carrier, when a retired employee reaches his/her 65th birthday, or when he/she becomes eligible for full Medicare benefits, whichever comes first, the retired employee's spouse and dependents will be eligible to continue health benefits in accordance with state and federal regulations in affect at the time. The premium will be paid by the retired employee to the District. 7.13.7 Contingent upon agreement of the carrier, when a member dies while under contract, his/her spouse and dependents will be eligible to continue to be covered by the District health plan (Section 7.3) in accordance with state and federal regulations in affect at the time. The premium will be paid by the spouse of the deceased member to the District. 7.13.8 In the event that both spouses are r...

Regular Retirement. 12.03.1 Employees shall provide at least twelve (12) months written notice to the Vice- President (Academic and Research) of their intention to retire in order to facilitate proper academic planning. The Employer shall respond to the Employee in writing, with a copy to the Union, no later than one (1) month following receipt of notice. The effective date of retirement shall normally be either December 31 or June 30. 12.03.2 The Employee or Employer may initiate discussions with the other regarding a retirement compensation package. The Union shall have the right to participate in all such discussions. Any such compensation package must be agreed to by the Employer, the Employee and the Union. The Employer and the Union agree to maintain consistency and fairness in decisions on retirement, and this will exclude decisions related to special time-limited retirement initiatives. 12.03.3 Subject to Article 12.03.2, health, dental, life, and AD&D insurance benefits will be available to the retiree on the same basis as for active Employees until age seventy (70). Subject to Article 12.03.2, retiree travel insurance benefits will be available to the retiree on a cost-share basis until the retiree reaches age seventy (70). Individuals may opt out of these plans. The Employer agrees to provide for insurance benefits to the retiree, including making Employer premium contributions where applicable, provided the retiree makes payment for Employee contributions for the benefits where applicable. The Employer shall inform the retiree of the payments required.

Regular Retirement a. Qualifications for represented employee coverage are: b. District/retiree contribution: Employee Only: 100% of the premium paid by the District. Employee+1: 88% of the District-selected premium paid by the District; 12% paid by the employee. Employee+2 or more: 88% of the District-selected premium paid by the District; 12% paid by the employee.

Regular Retirement. Pension options shall be consistent with the criteria as specified in the OMERS plan at the time the employee elects to retire. Currently, employers are not obligated to provide extended health benefits (including Life Insurance, Accidental Death and Dismemberment Insurance, Long Term Disability Insurance, Health and Dental Insurance) beyond age 65.

Regular Retirement. Pension options shall be consistent with the criteria as specified in the OMERS plan at the time the employee elects to retire.

Regular Retirement. ‌ Educators who choose regular retirement at age 65 or older with 10 or more years of DCC service may elect to continue in the College’s Health Insurance program. Those who elect to continue in the College’s health plan will share the costs of the insurance. The College will pay 70 percent of individual coverage or 55 percent of family coverage. Upon the death of an educator who has retired, health insurance will continue to be fully paid for the surviving spouse and dependent children for three full calendar months. At the end of the three months, the otherwise eligible surviving spouse and dependent children will have the option of continuing in the College health plan. Those electing to do so will be required to pay 100% of the monthly premium. An administrative fee of up to 10% of the premium may be charged as deemed necessary by the College. Educators who choose regular retirement are encouraged to give one semester notice to the College. Retirees shall be entitled to participate in the same health insurance plan(s) offered to active employees. The College agrees to reimburse Medicare eligible employees and their spouses for Medicare Part B expenses up to the listed base rate. This benefit shall be based upon the retiree reaching Medicare eligibility.

Regular Retirement. 1 Upon reaching the reference age, members shall be entitled to a lifelong retirement pension. The full pension entitlement also arises where members choose to keep up their employment either fully or partially.

Regular Retirement. All Fire Department employees shall join Act 345 Marquette City Pension System in accordance with the rules and regulations adopted by the City Commission concerning such matters. Effective upon signing of contract, straight life pension equals 3.0% of three (3) year average final compensation times the first 25 years of service plus 1% times years of service in excess of 25 years. The employee’s contribution shall be 5%. To help fund the increase in the multiplier, the bargaining unit has agreed to the following:

Regular Retirement. ‌ Educators who choose regular retirement at age 65 or older with 10 or more years of DCC service may elect to continue in the College's Health Insurance program. Those who elect to continue will share the costs of the insurance. The College will pay 70 percent of individual coverage or 55 percent of family coverage. Upon the death of an educator who has retired, health insurance will continue to be fully paid for the surviving spouse for three full calendar months. Educators who choose regular retirement are encouraged to give one semester notice to the College. Retirees shall be entitled to participate in the same health insurance plan(s) offered to active employees. The College agrees to reimburse Medicare eligible employees and their spouses for Medicare Part B. This benefit shall be based upon the retiree reaching Medicare eligibility.