Pre-Fifty-Five Early Retirement Incentive. Any supervisor who reaches the age of fifty (50) after the effective date and before the expiration date of the contract and who is appointed to a classification covered by the State Patrol Retirement Fund (M.S. §352B) who retires at or after his/her fiftieth (50th) birthday but before his/her fifty-fifth (55th) birthday shall be entitled to participate in the Pre-Fifty-Five (55) Early Retirement Incentive in accordance with the provisions set forth below. The Employer contribution for health and dental insurance coverage shall be equal to one hundred twenty (120) times the amount of the monthly Employer contribution applicable to the supervisor at the time of his/her retirement divided by the number of months from the date of retirement until the supervisor reaches age sixty-five (65). The supervisor shall be responsible for paying the remaining portion of the Employer contribution.
Appears in 9 contracts
