Retiree Insurance Benefit Plan Sample Clauses

Retiree Insurance Benefit Plan. The Board shall contribute to a plan entitled "Retiree Insurance Benefit Plan," hereafter referred to as the "Plan." The purpose of the Plan is to provide money to eligible retirees, which may include other employees and members from other employee groups, for defraying health insurance costs after retirement. The terms of the 2006-2009 Agreement shall remain in force until a non-revocable trust can be established. The trust shall contain the provisions of the 2006-2009 Agreement and shall be modified by the trustees based on the needs of the trust. It is further agreed that when the trust committee is formed it shall be comprised of five (5) union representatives and five (5) Board representatives. The union representatives shall be two (2) appointed by ACTA, and one each from AFSCME, ACESC and APSASAC. The language concerning the formation of the trust committee will be removed from the Agreement once the trust is established. The Board of Education agrees to provide a sum total of $928,857 for the 2016-2017 school year; and thereafter. The cost of establishing the Plan and the administrative expenses of the Plan shall be deducted from the contributions to the Plan.
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Retiree Insurance Benefit Plan. The Board shall contribute to a plan entitled “Retiree Insurance Benefit Plan,” hereafter referred to as the “Plan.” The purpose of the Plan is to provide money to eligible retirees, which may include other employees and members from other employee groups for defraying health insurance costs after retirement. The terms of the 2006-2009 Agreement shall remain in force until a non-revocable trust can be established. The trust shall contain the provisions of the 2006-2009 Agreement and shall be modified by the trustees based on the needs of the trust. It is further agreed that when the trust committee is formed it shall be comprised of five (5) Union representatives and five (5) Board representatives. The Union representatives shall be two (2) appointed by ACTA, and one each from AFSCME, ACESC and APSASAC. The language concerning the formation of the trust committee will be removed from the Agreement once the trust is established. The Board of Education agrees to provide a sum total of $928,857 for the 2016-2017 school year; and thereafter. The cost of establishing the Plan and the administrative expenses of the Plan shall be deducted from the contributions to the Plan. BENEFIT PROVISIONS Payment of benefits will be paid on a sliding scale based on years of service as follows: • 30 years or more service will receive 100% of available benefit 25 years but less than 30 years will receive 85% of available benefit • 20 years but less than 25 years will receive 70% of available benefit
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Related to Retiree Insurance Benefit Plan

  • Health Benefit Plan Par. 1. The Health Benefit Plan covering life insurance, sickness and accident benefits, and hospitalization insurance, or any changes thereto that are in accordance with the National Elevator Industry Health Benefit Plan and Declaration of Trust, shall be a part of this Agreement and adopted by all parties signatory thereto.

  • Retiree Insurance 12.1 Employees who retire must meet the following conditions at the time of retirement in order to be eligible for the Employer contributions, listed in Sections 12.2 through 12.5 below, toward a health insurance plan offered by the Employer:

  • Group Insurance Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be paid or unpaid leave of absence contact the school district Employee Benefits Department.

  • Sick Leave Benefit Plan The Sick Leave Benefit Plan will provide sick leave days and short term disability days for reasons of personal illness, personal injury, including personal medical appointments and personal dental appointments.

  • Insurance Benefits Borrower shall cooperate with Lender in obtaining for Lender the benefits of any Insurance Proceeds lawfully or equitably payable in connection with the Property, and Lender shall be reimbursed for any expenses incurred in connection therewith (including reasonable attorneys' fees and disbursements, and the payment by Borrower of the expense of an appraisal on behalf of Lender in case of a fire or other casualty affecting the Property or any part thereof) out of such Insurance Proceeds.

  • Same Sex Benefit Coverage An employee who co-habits with a person of the same sex, and who promotes such person as a "spouse" (partner), and who has done so for a period of not less than twelve (12) months, will be eligible to have the person covered as a spouse for purposes of Medical, Extended Health, and Dental benefits.

  • Life Insurance Benefits A. During the life of this Agreement, the basic life insurance benefit made available to Faculty members shall be calculated as 3 times base annual earnings, rounded to the next highest $1,000, but not more than $225,000. A separate additional benefit up to the amount of the life insurance will be paid for accidental death and dismemberment, or loss of sight. The amount of Life and Accidental Death and Dismemberment/Loss of Sight benefits will be reduced to 65% at age 65, and further reduced (from the original insurance amount) as follows: to 50% at age 70, and 35% at age 75. Basic life insurance and AD&D benefits will be provided with no employee contributions.

  • Benefit Plan If an employee maintains coverage for benefit plans while on maternity or parental leave, the Employer agrees to pay the Employer's share of these premiums.

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • Defined Benefit Plan A plan under which a Participant’s benefit is determined by a formula contained in the plan and no Employee accounts are maintained for Participants.

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