Common use of Retiree Coverage Clause in Contracts

Retiree Coverage. The City will offer extended health insurance coverage to retirees who meet the current eligibility standard. City participation towards the cost of the coverage will be computed based upon the following formula: PERCENTAGE YEARS OF SERVICE 50.0% 15 52.5% 16 55.0% 17 57.5% 18 60.0% 19 62.5% 20 65.0% 21 67.5% 22 70.0% 23 72.5% 24 75.0% 25 The amount of City participation will be based upon the insurance rates of the City’s primary health provider. Retirees who meet current MOU eligibility standards for City health contribution (retired after December 15, 1990 at least 50 years of age for all bargaining unit members) shall be eligible to receive a benefit contribution under the PERS Health Program until age 65. Such retirees shall receive a 50% contribution with 15 years of service, increasing by two and one-half percent (2½%) for each year of service up to the maximum 75% contribution at 25 years (as detailed above). In converting to the PERS Health Program, the benefit contribution will be based on the primary health plan. The City participates in the PERS Health Benefit Program, with the “unequal contribution option” establishing a minimum monthly employer contribution in a lesser amount for retirees than for active employees as defined by California Public Employees Retirement Law, § 22892(c). The City will provide the minimum monthly employer direct health insurance contribution and the balance will be in a flexible credit allocation in a flexible benefit plan. The amount of the direct health insurance contribution will increase annually according to California Public Employees Retirement Law, § 22892(c) until reaching the active employee direct contribution equivalent. The flexible credit allocation will be adjusted to provide a total contribution not to exceed the contribution specified in the MOU. Retirees will pay a monthly processing fee for the flexible benefit administration. For those who also wish to elect a medical reimbursement account, a monthly processing fee is also charged. In lieu of a vision hardware benefit, the City will contribute $16 after age 65 to a Medicare managed care plan or Medicare supplement. Current standards for eligibility for retiree health benefits are as follows:

Retiree Coverage. The City will offer extended health insurance coverage to retirees who meet the current eligibility standard. City participation towards the cost of the coverage will be computed based upon the following formula: PERCENTAGE YEARS OF SERVICE 50.0% 15 52.5% 16 55.0% 17 57.5% 18 60.0% 19 62.5% 20 65.0% 21 67.5% 22 70.0% 23 72.5% 24 75.0% 25 The amount of City participation will be based upon the insurance rates of the City’s primary health provider. Retirees who meet current MOU eligibility standards for City health contribution (retired after December 15, 1990 at least 50 years of age for all bargaining unit members) shall be eligible to receive a benefit contribution under the PERS California State Associations of Counties-Excess Insurance Authority’s (CSAC-EIA) Health Program program until age 65. Such retirees shall receive a 50% contribution with 15 years of service, increasing by two and one-half percent (2½%) for each year of service up to the maximum 75% contribution at 25 years (as detailed above). In converting to the PERS Health Program, the benefit contribution will be based on the primary health plan. The City participates in the PERS Health Benefit Program, with the “unequal contribution option” establishing a minimum monthly employer contribution in a lesser amount for retirees than for active employees as defined by California Public Employees Retirement Law, § 22892(c). The City will provide the minimum monthly employer direct health insurance contribution and the balance will be in a flexible credit allocation in a flexible benefit plan. The amount of the direct health insurance contribution will increase annually according to California Public Employees Retirement Law, § 22892(c) until reaching the active employee direct contribution equivalent. The flexible credit allocation will be adjusted to provide a total contribution not to exceed the contribution specified in the MOU. Retirees will pay a monthly processing fee for the flexible benefit administration. For those who also wish to elect a medical reimbursement account, a monthly processing fee is also charged. In lieu of a vision hardware benefit, the City will contribute $16 after age 65 to a Medicare managed care plan or Medicare supplement. Current standards for eligibility for retiree health benefits are as follows:

Retiree Coverage. The City will offer extended health insurance coverage to retirees who meet the current eligibility standard. City participation towards the cost of the coverage will be computed based upon the following formula: PERCENTAGE YEARS OF SERVICE 50.0% 15 52.5% 16 55.0% 17 57.5% 18 60.0% 19 62.5% 20 65.0% 21 67.5% 22 70.0% 23 72.5% 24 75.0% 25 The amount of City participation will be based upon the insurance rates of the City’s primary health provider. Retirees who meet current MOU eligibility standards for City health contribution (retired after December 15, 1990 at least 50 years of age for all bargaining unit members) shall be eligible to receive a benefit contribution under the PERS Health Program until age 65. Such retirees shall receive a 50% contribution with 15 years of service, increasing by two and one-half percent (2½%) for each year of service up to the maximum 75% contribution at 25 years (as detailed above). In converting to the PERS Health Program, the benefit contribution will be based on the primary health plan. The City participates in the PERS Health Benefit Program, with the “unequal contribution option” establishing a minimum monthly employer contribution in a lesser amount for retirees than for active employees as defined by California Public Employees Retirement Law, § 22892(c). The City will provide the minimum monthly employer direct health insurance contribution and the balance will be in a flexible credit allocation in a flexible benefit plan. The amount of the direct health insurance contribution will increase annually according to California Public Employees Retirement Law, § 22892(c) until reaching the active employee direct contribution equivalent. The flexible credit allocation will be adjusted to provide a total contribution not to exceed the contribution specified in the MOU. Retirees will pay a monthly processing fee for the flexible benefit administration. For those who also wish to elect a medical reimbursement account, a monthly processing fee is also charged. In lieu of a vision hardware benefit, the City will contribute $16 after age 65 to a Medicare managed care plan or Medicare supplement. supplement.‌ Current standards for eligibility for retiree health benefits are as follows:

Retiree Coverage. The City will offer extended health insurance coverage to retirees who meet the current eligibility standard. City participation towards the cost of the coverage will be computed based upon the following formula: PERCENTAGE YEARS OF SERVICE 50.0% 15 52.5% 16 55.0% 17 57.5% 18 60.0% 19 62.5% 20 65.0% 21 67.5% 22 70.0% 23 72.5% 24 75.0% 25 The amount of City participation will be based upon the insurance rates of the City’s primary health provider. Retirees who meet current MOU eligibility standards for City health contribution (retired after December 15, 1990 at least 50 years of age for all bargaining unit members) shall be eligible to receive a benefit contribution under the PERS Health Program until age 65. Such retirees shall receive a 50% contribution with 15 years of service, increasing by two and one-half percent (2½%) for each year of service up to the maximum 75% contribution at 25 years (as detailed above). In converting to the PERS Health Program, the benefit contribution will be based on the primary health plan. The City participates in the PERS Health Benefit Program, with the “unequal contribution option” establishing a minimum monthly employer contribution in a lesser amount for retirees than for active employees as defined by California Public Employees Retirement Law, § 22892(c). The City will provide the minimum monthly employer direct health insurance contribution and the balance will be in a flexible credit allocation in a flexible benefit plan. The amount of the direct health insurance contribution will increase annually according to California Public Employees Retirement Law, § 22892(c) until reaching the active employee direct contribution equivalent. The flexible credit allocation will be adjusted to provide a total contribution not to exceed the contribution specified in the MOU. Retirees will pay a $3 monthly processing fee for the flexible benefit administration. For those who also wish to elect a medical reimbursement account, a monthly processing fee of $1.50 monthly is also charged. In lieu of a vision hardware benefit, the City will contribute $16 after age 65 to a Medicare managed care plan or Medicare supplement. Current standards for eligibility for retiree health benefits are as follows: