Unused Sick Leave at Retirement for Health Insurance Sample Clauses

Unused Sick Leave at Retirement for Health Insurance. For EMPLOYEES hired before July 1, 2013 only, upon retirement from City employment for service or disability, an employee may elect to use unused sick leave at its dollar value at retirement (hourly base rate plus any regularly recurring bi-weekly premium pay, i.e., differential pay for Master’s Degrees) to pay health insurance premiums in retirement according to the following schedule: 10 through 14 years of service: 25% of the sick leave balance at retirement; 15 through 19 years of service: 50% of the sick leave balance at retirement; 20 + years of service: 75% of the sick leave balance at retirement. An EMPLOYEE choosing to exercise this benefit must submit a written request to the City’s Finance Department no later than 120 days following the date of separation from City employment. This benefit will be in addition to the PEMHCA contribution the City currently contributes to the Public Employees’ Retirement System for retiree health insurance benefits. The supplemental benefits described above shall be used to pay health insurance premiums for the retiree and dependents, if applicable. However, if the employee is deceased before the funds are exhausted, the supplemental benefits shall cease and the remaining funds shall be the City’s property. The City elects to self-administer this plan at this time. The City will pay the annualized dollar equivalent of the Kaiser two-party health insurance premium once per year in January of each year.
Sample 1
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Unused Sick Leave at Retirement for Health Insurance. For EMPLOYEES hired before July 1, 2013 only, upon retirement from City employment for service or disability, an employee may elect to use unused sick leave at its dollar value at retirement to pay health insurance premiums in retirement according to the following schedule: 10 through 14 years of service: 25% of the sick leave balance at retirement; 15 through 19 years of service: 50% of the sick leave balance at retirement; 20+ years of service: 75% of the sick leave balance at retirement. An EMPLOYEE choosing to exercise this benefit must submit a written request to the City’s Finance Department no later than 120 days following the date of separation from City employment. This benefit will be in addition to the PEMHCA contribution the City currently contributes to the Public Employees’ Retirement System for retiree health insurance benefits. The supplemental benefits described above shall be used to pay health insurance premiums for the retiree and dependents, if applicable. However, if the employee is deceased before the funds are exhausted, the supplemental benefits shall cease and the remaining funds shall be the City’s property. The City elects to self-administer this plan at this time. The City will pay the annualized dollar equivalent of the Kaiser two-party health insurance premium once per year in January of each year. This benefit may be used in combination with service credit for unused sick leave as described in Article 6, Section F.5.
Sample 1

Related to Unused Sick Leave at Retirement for Health Insurance

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who:

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who:

  • Retirement Health Insurance Subd. 1. Benefit Eligibility for Employees who Retire Before Age 65

  • Compensation for Unused Sick Leave 1. Employees who enter County service after July 1, 1979, shall not be eligible for compensation for any of their unused sick leave credits.

  • Sick Leave Credit-Based Retirement Gratuities 1) A Teacher is not eligible to receive a sick leave credit gratuity after August 31, 2012, except a sick leave credit gratuity that the Teacher had accumulated and was eligible to receive as of that day.

  • Use of Vacation Leave for Sick Leave Purposes The Employer may allow an employee who has used all of his or her sick leave to use vacation leave for sick leave purposes as provided in Article 12.2 A. An employee who has used all of his or her sick leave may use vacation leave for sick leave purposes as provided in Article 12.2 B – H.

  • Sick Leave Abuse ‌ When the Employer suspects sick leave abuse, the employee will be provided the opportunity to explain the circumstances surrounding their sick leave use prior to disciplining the employee, or making reference to sick leave use in the employee’s performance evaluation. The Employer may not adopt or enforce any policy that counts the use of paid sick leave time as an absence that may lead to or result in disciplinary action for an authorized purpose. The Employer may not discriminate or retaliate against an employee for the use of paid sick leave for an authorized purpose.

  • Sick Leave Benefit There are two types of sick leave benefits. Annual sick leave is the sick leave days credited each year to each employee in accordance with the provisions of the local collective bargaining agreements. Banked sick leave is previously accumulated unused sick leave to which unused annual sick leave may be added at the end of each anniversary year.

  • Post Retirement Health Care Benefit Employees who separate from State service and who, at the time of separation are insurance eligible and entitled to immediately receive an annuity under a State retirement program, shall be entitled to a contribution of two hundred fifty dollars ($250) to the Minnesota State Retirement System’s (MSRS) Health Care Savings Plan. Employees who have a HCSP waiver on file shall receive a two hundred fifty dollars ($250) cash payment. If the employee separates due to death, the two hundred fifty dollars ($250) is paid in cash, not to the HCSP. An employee who becomes totally and permanently disabled on or after January 1, 2008, who receives a State disability benefit, and is eligible for a deferred annuity under a State retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. Employees are eligible for this benefit only once.

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