Retirement Medical Program Sample Clauses

Retirement Medical Program. Bargaining unit employees shall be eligible to participate in the retiree medical and dental insurance programs and receive an early retirement medical stipend under the same terms and conditions as the City’s Administrative Officers, which may be amended from time to time.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Retirement Medical Program. Retirement is 55 years of age with 10 years of credited service or any age with 20 years of credited service, for the purposes of being eligible for the Retirement Medical Program, which provides for an election to continue medical insurance on the City’s group insurance plan. Any employee electing retirement and is eligible for normal and elective commencement of benefits shall be entitled to the benefits, in effect on the date of making such an election. Effective October 1, 2007, this election will provide, as a benefit, a $250.00 monthly stipend toward the then prevailing insurance premium. Any charges above the prevailing premium rates, either due to rate changes or family status, shall be the obligation of the retiree payable to the City of Coconut Creek to be paid quarterly in advance of the premium due date. The retiree shall be eligible to receive the monthly stipend until reaching the prevailing Medicare eligibility age. Individuals retiring during the term of this Agreement shall receive no more than $250 per month after the expiration of this Agreement.
Sample 1
Retirement Medical Program. Retirement is 55 years of age with 10 years of credited service or any age with 20 years of credited service, for the purposes of being eligible for the Retirement Medical Program, which provides for an election to continue medical insurance on the City’s group insurance plan. Any employee electing retirement and is eligible for normal and elective commencement of benefits shall be entitled to the benefits, in effect on the date of making such an election. Effective October 1, 2008, this election will provide retirees hired as a City of Coconut Creek Police Officer/Trainee/Corporal prior to January 1, 2002, and who meet the above definition of retirement, as a benefit, a $250.00 monthly stipend toward the then prevailing insurance premium. Any charges above the prevailing premium rates, either due to rate changes or family status, shall be the obligation of the retiree payable to the City of Coconut Creek to be paid quarterly in advance of the premium due date. The retiree shall be eligible to receive the monthly stipend until reaching the prevailing Medicare eligibility age. The monthly stipend is available only for retirees continuing coverage on the City’s medical insurance plan, except that the City will provide the stipend directly to retirees who move outside the network area if the City does not have a plan that provides out-of-network benefits. Such retirees must provide proof of health insurance at the City's request in order to receive the monthly stipend, and the stipend may not exceed the actual cost of the retiree's insurance. Individuals retiring during the term of this Agreement shall receive no more than $250 per month after the expiration of this Agreement. Effective October 1, 2009, employees hired as a City of Coconut Creek Police Officer/Trainee/Corporal on or after January 1, 2002, shall receive a City contribution in the amount of two-percent (2%) of annual salary (including overtime) to a Retirement Health Savings plan. Fifty percent (50%) of the account balance shall be vested upon the employee’s completion of two years of City service, with full vesting reached upon meeting the retirement eligibility defined in this Section. Emergency medical withdrawal of vested funds will be permitted, pursuant to IRS guidelines.
Sample 1
Retirement Medical Program. Retirement is 55 years of age with 10 years of credited service or any age with 20 years of credited service, for the purposes of being eligible for the Early Retirement Medical Program. Any employee electing retirement and who is eligible for normal and elective commencement of benefits shall be entitled to the benefits, in effect on the date of making such an election. The Early Retirement Medical Program provides for a one-time election for employees who were enrolled in the City’s group medical insurance plan immediately preceding retirement to continue medical insurance until the retiree reaches the prevailing Medicare eligibility age. Continued participation in the group insurance plan for retirees who qualify for retirement under Chapter 112.0801 Florida State Statutes shall be permitted, provided that additional benefits identified in this Article shall be excluded unless the retiree meets the age and years of service requirements identified within this Article. Effective October 1, 2008, this election will provide retirees hired as a City of Coconut Creek Police Officer/Trainee/Corporal prior to January 1, 2002, and who meet the above definition of retirement, as a benefit, a $250.00 monthly stipend toward the then prevailing insurance premium. Any charges above the prevailing premium rates, either due to rate changes or family status, shall be the obligation of the retiree payable to the City of Coconut Creek to be paid quarterly in advance of the premium due date. The retiree shall be eligible to receive the monthly stipend until reaching the prevailing Medicare eligibility age. The monthly stipend is available only for retirees continuing coverage on the City’s medical insurance plan, except that the City will provide the stipend directly to retirees who move outside the network area if the City does not have a plan that provides out-of-network benefits. Such retirees must provide proof of health insurance at the City's request in order to receive the monthly stipend, and the stipend may not exceed the actual cost of the retiree's insurance. Individuals retiring during the term of this Agreement shall receive no more than $250 per month after the expiration of this Agreement. Effective October 1, 2009, employees hired as a City of Coconut Creek Police Officer/Trainee/Corporal on or after January 1, 2002, shall receive a City contribution in the amount of two percent (2%) of annual salary (including overtime) to a Retirement Health Savings plan....
Sample 1

Related to Retirement Medical Program

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Health Care Savings Plan As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator.

  • Dental Program The State will provide a dental plan for the employees and their family. The coverage shall be $1,200 under the dental program to be effective upon the expiration of the current dental program. Effective January 1, 2009, the following dental change shall be in effect: Dental plan crown coverage shall be changed to 80%.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Dependent Care Salary Reduction Plan The Employer agrees to maintain the current dependent care salary reduction plan that allows eligible employees, covered by this Agreement, the option to participate in a dependent care reimbursement program for work-related dependent care expenses on a pretax basis as permitted by federal tax law or regulation.

  • Post Retirement Health Care Benefit Employees who separate from State service and who, at the time of separation are insurance eligible and entitled to immediately receive an annuity under a State retirement program, shall be entitled to a contribution of two hundred fifty dollars ($250) to the Minnesota State Retirement System’s (MSRS) Health Care Savings Plan. Employees who have a HCSP waiver on file shall receive a two hundred fifty dollars ($250) cash payment. If the employee separates due to death, the two hundred fifty dollars ($250) is paid in cash, not to the HCSP. An employee who becomes totally and permanently disabled on or after January 1, 2008, who receives a State disability benefit, and is eligible for a deferred annuity under a State retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. Employees are eligible for this benefit only once.

  • Retirement Savings 5.6.1 Principals are eligible to join a KiwiSaver scheme in accordance with the terms of those schemes.

Time is Money Join Law Insider Premium to draft better contracts faster.