Common use of Level of Benefit Clause in Contracts

Level of Benefit. Medical and dental premiums are subject to years of credited County service (exclusive of golden handshakes and public service buybacks) with an allocation factor of $150 per year to a maximum of twenty (20) years of service ($3,000) annually. Dependent coverage is available—paid by the retiree. The County will explore a health savings account option for employees who wish to set aside money for out-of-pocket retirement health costs.

Level of Benefit. Medical and dental premiums are paid subject to years of credited County service (exclusive of golden handshakes Golden Handshakes and public service buybacks) with an Public Service Buybacks). An allocation factor and maximum payment amount reviewed annually by the Retirement Board determines the level of $150 per year to a maximum benefit. Any cost in excess of twenty (20) years the lesser of service ($3,000) annually. Dependent coverage is available—the allocated amount as set by the Retirement Board will be paid by the retiree. The County will explore a health savings account option for employees who wish to set aside money for out-of-pocket retirement health costs.