Coverage Upon Retirement Sample Clauses

Coverage Upon Retirement. None of the members of the bargaining unit as of December 31, 1996 is eligible for an Employer contribution toward health plan premiums after retirement. The policy of the Metropolitan Council, however, provides that an employee who was eligible for such a contribution under the terms of another contract or plan prior to transfer to another unit shall maintain eligibility. Accordingly, such employees who retire after January 01, 2019, shall retain eligibility, but the terms and conditions are outside the scope of this Agreement.
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Coverage Upon Retirement. The Employer shall pay a maximum of $250.00 per month towards the cost of health insurance for an employee who goes on regular retirement and shall continue such payment until the retired employee reaches his 65th birthday. (This benefit applies to Unit 1). The Employer shall pay a maximum of $310.00 per month towards the cost of health insurance for an employee who goes on regular retirement and shall continue such payment until the retired employee reaches his 65th birthday. (This benefit applies to Unit 2). Payments can be used for payment of premiums (Yearly Maximum of $3,000 for Unit 1/$3,720 for Unit 2) to other health insurance carriers if the City is supplied proof of the insurance premium payments by the retired employee until the retiree reaches his 65th birthday. Employees who are hired after the signing of this Agreement are not eligible for City retiree health coverage or any Employer contribution upon retirement. Under the provisions of this article, any employee who is married to another City employee must hold his or her own policy upon retirement in order to qualify for the monthly Employer contribution.
Coverage Upon Retirement. The Employer will pay $250.00 per month towards health and prescription drug insurance premiums for retired Fire Department personnel between the ages of 50 and 65 who have acquired 25 years of service in the Department. The Employer will pay $250.00 per month towards the health and prescription drug insurance premiums for duty disabled firefighters up to age 50 provided the duty disabled retiree does not qualify for Social Security Disability benefits, Medicare, or Medicaid. Payments can be used for premiums to any health insurance carrier of the retired employee's choice until the retiree reaches the age of 65, provided the retired employee supplies proof of the insurance premium payments to the Employer. Any insurance premium amounts over $250.00 per month will be paid by the retiree. All health and prescription drug insurance premium payments by the Employer will cease at age 65 for all Department retirees.

Related to Coverage Upon Retirement

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • 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.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • Vacation Pay on Retirement Termination is as follows:

  • Coverage Selection Prior to Retirement An employee who retires and is eligible to continue insurance coverage as a retiree may change his/her health or dental plan during the sixty (60) calendar day period immediately preceding the date of retirement. The employee may not add dependent coverage during this period. The change takes effect on the first day of the month following the date of retirement.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

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