Retirees’ Participation in OU Group Health Plans. An employee retiring at any age after completion of twenty-five (25) years of continuous full-time service and an employee retiring at age 62 or later after completing fifteen (15) years of continuous full-time service may continue to participate in Employer group health plans by paying the full-cost of the monthly premiums in a timely manner. Participation must be continuous. If the retiree ceases to participate for any length of time, he/she may not participate in an Employer group health plan thereafter. Upon attainment of age 65, the retiree or the retiree’s spouse would be eligible solely for Medicare complementary coverage through an Employer group health plan – at the retiree’s cost. Effective October 1, 2002, the Employer will establish a fund from which monthly premium costs of group health coverage may be paid for a retired police officer or dispatcher who meets these criteria: 1) has been a police officer, dispatcher or any combination of, for at least twenty-five (25) years of service, 2) has attained at least the age of 55, 3) retires from a police officer or dispatcher position, and 4) retires after October 1, 2012. The benefit is available to the retired police officer or dispatcher until he/she becomes eligible for the coverage at age 65 described immediately above. The retiree may provide coverage for his/her spouse under the group medical plan at his/her cost. Effective October 1, 2014 the annual contribution to the interest bearing fund shall be $8,678.00. Amounts not used during one fiscal year will be carried over to the next fiscal year. If requests are in excess of available funding, remaining funds will be prorated among those who qualify. In no event will a monthly benefit from this fund exceed the amount the Employer would contribute for an active POAM member for the monthly premium for like coverage. The retiree must make arrangements with the Benefit & Compensation Services Office for advance payment of whatever premium costs are not covered by benefits from this fund or the coverage will not be provided. Eligibility for coverage as a retiree depends upon continued participation in the group hospital medical plan as an active employee.
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Retirees’ Participation in OU Group Health Plans. An employee retiring at any age after completion of twenty-five (25) years of continuous full-time service and an employee retiring at age 62 or later after completing fifteen (15) years of continuous full-time service may continue to participate in Employer group health plans by paying the full-cost of the monthly premiums in a timely manner. Participation must be continuous. If the retiree ceases to participate for any length of time, he/she may not participate in an Employer group health plan thereafter. Upon attainment of age 65, the retiree or the retiree’s spouse would be eligible solely for Medicare complementary coverage through an Employer group health plan – at the retiree’s cost. Effective October 1, 2002, the Employer will establish a fund from which monthly premium costs of group health coverage may be paid for a retired police officer or dispatcher who meets these criteria: 1) has been a police officer, dispatcher or any combination of, for at least twenty-five (25) years of service, 2) has attained at least the age of 55, 3) retires from a police officer or dispatcher position, and 4) retires after October 1, 2012. The benefit is available to the retired police officer or dispatcher until he/she becomes eligible for the coverage at age 65 described immediately above. The retiree may provide coverage for his/her spouse under the group medical plan at his/her cost. Effective October 1, 2014 the annual contribution to the interest bearing fund shall be $8,678.00. Amounts not used during one fiscal year will be carried over to the next fiscal year. If requests are in excess of available funding, remaining funds will be prorated among those who qualify. In no event will a monthly benefit from this fund exceed the amount the Employer would contribute for an active POAM member for the monthly premium for like coverage. The retiree must make arrangements with the Benefit & Compensation Services Office for advance payment of whatever premium costs are not covered by benefits from this fund or the coverage will not be provided. Eligibility for coverage as a retiree depends upon continued participation in the group hospital medical plan as an active employee.. ARTICLE XXVI TUITION ASSISTANCE
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Samples: Agreement
