Retirement Insurance. A teacher retiring from the District and under the provisions of Teachers’ Retirement Association (TRA) is eligible to continue to participate in group insurance programs (health insurance, dental insurance, life insurance, supplemental life insurance) as permitted under the insurance policy provisions provided the teacher pay the entire premium for such group insurance programs commencing with the beginning of the retirement (see District Website, Human Resources for specific coverage available). The teacher shall be responsible for paying the monthly premium amounts in advance and on such dates as determined by the District/third party administrator. The right to continue participation in such group insurance programs will discontinue upon the failure of the teacher to pay the premiums to the District/third party administrator, or the expiration of insurance availability under the insurance policy provisions. Since long-term disability insurance coverage replaces salary, and a retiree receives no salary, long-term disability insurance coverage is not available.
Retirement Insurance. To qualify for retirement life, dental, and vision insurance benefits an Operator must accumulate ten (10) years METRO seniority, attain the age of 50 years or more and retire under the provisions of PERS while an employee of METRO. METRO dental, life, and vision plan coverage shall be provided by METRO until the retired Operator reaches age sixty-five (65).
Retirement Insurance. 1. The New Career Plan (Section 75-i) of the New York State and Local Employees’ Retirement System will remain in effect for Tier 1 and 2 members (those who became members of the Retirement System on or before July 26, 1976), adopted by the Board of Representatives on January 16, 1990:
Retirement Insurance. If you retire from Post Foods Canada while on active status, Post Foods Canada will assume the full cost of providing you with Life Insurance coverage in the amount of $2,000, provided that you are age 55 or more and have at least 10 years of service with the Company at the time of retirement.
Retirement Insurance. 1. The District shall contribute $3000 per year, on a cumulative basis, into a Health Reimbursement Arrangement (HRA) effective the start of the fourth (4) year of employment. Contributions will be made annually through the twentieth (20) year of employment with the District, for a total District maximum contribution of $51,000.
Retirement Insurance. Based on all of the above eligibility requirements, as of the effective date of retirement the eligible retiree shall receive an annual grant from the Board to defray the cost of medical insurance after retirement. The amount of the annual grant shall be equal to the Board’s contribution toward hospitalization and major medical insurance as found in the collective bargaining agreement in effect on the retiree’s effective date of retirement. The annual grant available to the retiree shall be applicable to the level of health insurance coverage (individual or dependent/family) selected by the retiree and in effect during the school year immediately preceding the effective date of retirement. For those retirees who did not select or have in effect health insurance coverage during the school year immediately preceding the effective date of retirement, the annual grant shall be applicable to the cost of individual coverage only. Retirees desiring greater coverage than that in effect immediately preceding the effective date of retirement shall be responsible for cost of such coverage over and above the Board’s annual insurance grant. The Board’s obligation to provide the annual insurance grant shall continue until the cessation of such coverage, the retiree’s qualification for Medicare coverage, or the retiree attaining age 65, whichever shall first occur. Each retiree shall be solely responsible for applying and qualifying for such insurance coverage. In the event the retiree and/or dependents are no longer eligible (whether for voluntary or involuntary reasons) for insurance after enrolling for the same, said retiree and/or dependents shall not be entitled to re-enrollment with the District’s insurance plan. Option 2: Service Recognition Stipend Based on all of the above eligibility requirements, an eligible employee shall receive on the effective date of retirement a one-time stipend based on the following years of District Service: Years of District Service at Time of Retirement One-Time Stipend Amount 12-15 years $3,000 16-19 years $3,800 20-24 years $4,300 25 years $5,000
Retirement Insurance. A. Bargaining unit employees hired prior to October 1, 2007, will be grandfathered to continue eligibility for the two percent (2%) retirement discount program. Bargaining unit employees hired on or after October 1, 2007, will not be eligible for the two percent (2%) retirement discount program. Bargaining unit employees hired prior to October 1, 2007, who qualifies for normal retirement under the Florida Retirement System (FRS), shall receive a post-retirement health insurance benefit equal to full time bargaining unit employees. Under said plan, the retiring employee who is qualified to retire under FRS will receive two percent (2%) credit for each year of creditable service prorated by each full month of service with BSO, up to a maximum of fifty percent (50%) of the total health insurance premium cost at the time of separation/retirement.
Retirement Insurance. A. Bargaining unit employees hired prior to October 1, 2007, will be grandfathered to continue eligibility for the two percent (2%) retirement discount program. Bargaining unit employees hired on or after October 1, 2007, will not be eligible for the two percent (2%) retirement discount program. Bargaining unit employees hired prior to October 1, 2007, who qualifies for normal retirement under the Florida Retirement System (FRS), shall receive a post-retirement health insurance benefit equal to full time bargaining unit employees. Under said plan, the retiring employee who is qualified to retire under FRS and in “good standing” will receive two percent (2%) credit for each year of creditable service prorated by each full month of service with BSO, up to a maximum of fifty percent (50%) of the total health insurance premium cost at the time of separation/retirement. Good standing as used in this section shall be defined as a bargaining unit employee retiring without criminal charges pending. Further, if there are any administrative charges pending against an employee at the time of his/her retirement, the employee will be considered to have retired in good standing pending the final disciplinary decision. If the administrative charges are sustained with a final decision of termination, the employee will be determined to have not left the agency in good standing and the retirement discount program benefits will be terminated.
Retirement Insurance. Effective May 19, 1996, the Company will assume the full cost of providing Term Insurance coverage in the amount of ten thousand dollars ($10,000), for an employee who retires from the Company, while in active employee status, on or after age fifty - five (55), with ten (10) years or more of service. This ten thousand dollars ($10,000) amount decreases by one thousand dollars ($1000) each year, until a minimum of five thousand dollars ($5000).
