Retirement Insurance definition

Retirement Insurance. Provision: Eligible teachers retiring shall be eligible to receive a lump sum amount of $10,000 payable to a third party vender selected by the District to provide retiring teachers a tax shelter for IRS qualifying health insurance premiums and out of pocket medical expenses, such as the Minnesota State Retirement System plan, (as approved under IRS 501 (C)(9) Voluntary Employee Beneficiary Association and 115 Government Trust) or equivalent. The District payment will be made on or about July 15th following retirement. To qualify, a teacher shall meet the following criteria:
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Examples of Retirement Insurance in a sentence

  • They will only have the option of participating in the State of Illinois Teachers’ Retirement Insurance Program (TRIP)/Teachers’ Choice Health Plan (THCP) instead of participating in the Glenbard Township High School District #87 Group Insurance Program.

  • The date of recovery in the case of disability retirement must be supported by notice of recovery from the Bureau of Retirement Insurance and Occupational Health, Office of Personnel Management, and in the case of resignation due to illness, by a statement from the applicant’s attending physician or practitioner.

  • For teachers electing retiree insurance coverage pursuant to the Teachers' Retirement Insurance Program, the Board will pay the required premium for single coverage until the employee reaches age 65.

  • The fund shall provide such contribution for up to the amount of “The Retirement Insurance Fund” balance annually.

  • Any additional days of accrued leave, beyond the contract length, may be used only for the Retirement Insurance Benefit Plan.

  • Employees who choose to take early retirement may remain a part of the group until they reach medicare age or until the next open enrollment period of the Indiana State Teacher’s Retirement Insurance Plan.

  • Eligible retirees may obtain medical insurance coverage for themselves, their spouses, or their dependents, by enrolling in the health insurance program offered by the Teachers’ Retirement System (TRS)/Teacher Retirement Insurance Program (TRIP).

  • Instructors with fifteen (15) to seventeen (17) years of full-time employment with the School District immediately preceding their retirement who retire under the provisions of the ITRS and who enroll in the Teachers’ Retirement Insurance Program (TRIP) or have health care insurance coverage shall be reimbursed per the below schedule by the Board up to a total of two thousand five hundred dollars ($2500) for the premium for individual coverage based upon submitted proof of payment by the instructor.

  • Instructors with eighteen (18) or more years of full-time employment with the School District immediately preceding their retirement who retire under the provisions of the ITRS and who enroll in the Teachers’ Retirement Insurance Program (TRIP) or have qualified health coverage, shall be reimbursed per the below schedule by the Board up to a total of five thousand dollars ($5000) for the premium for individual coverage based upon submitted proof of payment by the instructor.

  • In the case of Xxxxx Plans, Pension and Profit Sharing Trust, and other entities governed by the Employee Retirement Insurance Security Act, Trustee acknowledges that the amount of assets of said entity allowed to be invested in such commodities is subject to a “prudent man” standard.

Related to Retirement Insurance

  • Credit unemployment insurance means insurance:

  • Unemployment Insurance means the contribution required of Vendor, as an employer, in respect of, and measured by, the wages of its employees (or subcontractors) as required by any applicable federal, state or local unemployment insurance law or regulation.

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Reimbursement insurance policy means a policy of insurance

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Group health insurance coverage means in connection with a group health plan, health insurance

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Health insurance coverage means benefits consisting of medical care (provided directly, through

  • In-Orbit Insurance means, with respect to any Satellite (or, if the entire Satellite is not owned by the Issuer or any Restricted Subsidiary, as the case may be, the portion of the Satellite it owns or for which it has risk of loss), insurance (subject to a right of co-insurance in an amount up to $150.0 million) or other contractual arrangement providing for coverage against the risk of loss of or damage to such Satellite (or portion, as applicable) attaching upon the expiration of the launch insurance therefor (or, if launch insurance is not procured, upon the initial completion of in-orbit testing) and attaching, during the commercial in-orbit service of such Satellite (or portion, as applicable), upon the expiration of the immediately preceding corresponding policy or other contractual arrangement, as the case may be, subject to the terms and conditions set forth in this Indenture.

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • insurance period means a contribution period or an equivalent period;

  • Insurance Administration means, with respect to each Shared Policy, the accounting for premiums, retrospectively-rated premiums, defense costs, indemnity payments, deductibles and retentions, as appropriate, under the terms and conditions of each of the Shared Policies; and the reporting to excess insurance carriers of any losses or claims which may cause the per-occurrence, per claim or aggregate limits of any Shared Policy to be exceeded, and the distribution of Insurance Proceeds as contemplated by this Agreement.

  • Health benefits plan means a benefits plan which pays or

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Insurance means comprehensive insurance of the vehicle(s)/equipment and shall include insurance of the crew.

  • ' Compensation Insurance With respect to all operations performed, the Party shall carry workers’ compensation insurance in accordance with the laws of the State of Vermont. Vermont will accept an out-of-state employer's workers’ compensation coverage while operating in Vermont provided that the insurance carrier is licensed to write insurance in Vermont and an amendatory endorsement is added to the policy adding Vermont for coverage purposes. Otherwise, the party shall secure a Vermont workers’ compensation policy, if necessary to comply with Vermont law.

  • Health insurance plan means any health insurance policy or health benefit plan offered by a health insurer or a subcontractor of a health insurer, as well as Medicaid and any other public health care assistance program offered or administered by the State or by any subdivision or instrumentality of the State. The term includes vision care plans but does not include policies or plans providing coverage for a specified disease or other limited benefit coverage.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • Unemployment compensation means cash benefits (including depend- ents’ allowances) payable to individ- uals with respect to their unemploy- ment, and includes regular, additional, emergency, and extended compensa- tion.(2) Regular compensation means unem- ployment compensation payable to an individual under any State law, but not including additional compensation or extended compensation.(3) Additional compensation means un- employment compensation totally fi- nanced by a State and payable under a State law by reason of conditions of high unemployment or by reason of other special factors.(4) Emergency compensation means supplementary unemployment com- pensation payable under a temporary Federal law after exhaustion of regular and extended compensation.(5) Extended compensation means un- employment compensation payable to an individual for weeks of unemploy- ment in an extended benefit period, under those provisions of a State law which satisfy the requirements of the Federal-State Extended Unemploy- ment Compensation Act of 1970, as amended, 26 U.S.C. 3304 note, and part 615 of this chapter, with respect to the payment of extended compensation.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Retiree means any person who has begun accruing a retirement

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.