Retiree Insurance Coverage Clause Samples

The Retiree Insurance Coverage clause defines the terms under which retired employees are eligible to receive insurance benefits from their former employer. Typically, this clause outlines the types of insurance provided, such as health, dental, or life insurance, and may specify eligibility criteria like years of service or age at retirement. Its core function is to ensure that retirees maintain access to essential insurance coverage after leaving active employment, thereby providing financial security and continuity of benefits.
Retiree Insurance Coverage. Teachers who retire shall be eligible to remain in the existing group health and hospitalization insurance program. It is the responsibility of the retiree to make arrangements with the School District’s business office to pay the School District the monthly premium balance in advance and on such date as determined by the School District. Upon their retirement, teachers hired by the school board before January 15, 2010 shall be eligible for School District contribution toward such insurance coverage, or an out-of-School District program selected by retiree. The amount of such School District contribution shall be $200 per month and shall cease when the retiree becomes eligible for Medicare. For each eligible teacher who chooses not to remain on the School District’s health insurance plan upon retirement, the School District will pay the MSRS an amount equal to $200 times the number of months of that teacher’s eligibility during that fiscal year into the teacher’s MSRS account. This payment will be made on or about December 31st of each fiscal year. Upon retirement, teachers hired by the school board on or after January 15, 2010 shall not be eligible for School District contribution toward such insurance coverage or any payment made to the MSRS account pursuant to this section.
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Retiree Insurance Coverage. The Board will offer health insurance to bargaining unit employees upon retirement, at the employee’s cost, only in the absence of the College Insurance Program (CIP) offered by the State of Illinois. The retiree must be: a. At least 55 years old; b. A full-time SRC employee for the 10 years immediately prior to his/her retirement;
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Retiree Insurance Coverage. 10.3.1 CSEA members hired prior to July 1, 2003 10.3.1.1.1 Ten (10) years of District service immediately preceding retirement. 10.3.1.1.2 Retire between the ages of fifty-five (55) and sixty-five (65). 10.3.1.1.3 Retire on or after October 27, 1980. Any qualified CSEA member will have the same right as active employees to select a more costly medical plan and will be obligated to pay the full difference above the least expensive plan. 10.3.2 CSEA members hired after July 1, 2003
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Retiree Insurance Coverage a. SUSDPOA Members Hired Prior to July 1, 2003: Bargaining union members who retire from the District under PERS regulations and who meet the following criteria will receive medical coverage under the District plan until age sixty-five (65) or are eligible for Medicare, whichever comes first, subject to the terms below: i. Ten (10) years of District service immediately preceding retirement. ii. Retire between the ages of fifty (50) and sixty-five (65). iii. Retire on or after October 27, 1980. Any qualified SUSDPOA members will have the same right as active employees to select a more costly medical plan and will be obligated to pay the full difference above the least expensive plan. The SUSDPOA retiree is eligible to participate in the District’s group dental, vision, and chiropractic plans by purchasing benefit coverage at the eligible group rate. b. SUSDPOA Members Hired After July 1, 2003: Any qualifying member who retires from the District under PERS regulations and who meets the criteria in 12.3.1 will receive the same medical plan options for the bargaining unit member as active bargaining unit members. Any qualifying bargaining unit member who retires from the District under PERS regulations will be required to make a proportional payment for the medical plan. SUSDPOA and the District reserve the right to mutually amend or modify this benefit in the future for current and/or future bargaining unit members. This benefit will last until the age of 65 or until the bargaining unit member is eligible for Medicare, whichever comes first. The SUSDPOA retiree is eligible to participate in the District’s group dental, vision, and chiropractic plans by purchasing benefit coverage at the eligible group rate.
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Retiree Insurance Coverage. The District shall pay the full insurance premium of bargaining unit members and
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Retiree Insurance Coverage. 11.11.1 MCOE will provide the full premium for “employee only” medical, dental and vision benefits, upon the employee’s retirement for up to ten (10) years in accordance with the following schedule:
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Retiree Insurance Coverage. METRO's share of dental, vision and life insurance plan coverage shall continue to be provided by METRO for a qualifying retired employee and dependent(s) and terminate upon any of the following conditions: (a) death of the retiree;
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Retiree Insurance Coverage. Until eligible for Medicare, employees retiring under IMRF or on disability retirement pursuant to IMRF shall be allowed to purchase the hospitalization/medical program at the active group rate for current employees by paying in advance the full applicable monthly premium for employee coverage and, if desired at the time of retirement, for dependent coverage until eligible for Medicare.‌
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Retiree Insurance Coverage a. SUSDPOA Members Hired Prior to July 1, 2003: Bargaining union members who retire from the District under PERS regulations and who meet the following criteria will receive medical coverage under the District plan until age sixty-five (65) or are eligible for Medicare, whichever comes first, subject to the terms below: i. Ten (10) years of District service immediately preceding retirement. ii. Retire between the ages of fifty (50) and sixty-five (65). iii. Retire on or after October 27, 1980. b. SUSDPOA Members Hired After July 1, 2003: Any qualifying member who retires from the District under PERS regulations and who meets the criteria in 12.3.1 will receive the same medical plan options for the bargaining unit member as active bargaining unit members. Any qualifying bargaining unit member who retires from the District under PERS regulations will be required to make a proportional payment for the medical plan. SUSDPOA and the District reserve the right to mutually amend or modify this benefit in the future for current and/or future bargaining unit members. This benefit will last until the age of 65 or until the bargaining unit member is eligible for Medicare, whichever comes first. The SUSDPOA retiree is eligible to participate in the District’s group dental, vision, and chiropractic plans by purchasing benefit coverage at the eligible group rate.
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Related to Retiree Insurance Coverage

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • Life Insurance Coverage a) Fifteen thousand ($15,000) dollars life insurance policy with AD&D from an insurance carrier selected by the Board, subject to the provisions of this section. b) Employees who have Board-provided term life insurance shall have a thirty- one (31) day conversion right upon termination of employment. Any employee electing the right to conversion in order to keep term life insurance in force, must contact the insurance carrier within thirty-one (31) days of the last day of employment. c) The life insurance policy shall pay to the employee’s beneficiary the aforementioned sum within the underwriting rules and regulations as set forth by the insurance carrier.

  • Insurance Coverages The Consultant shall procure and maintain, at its sole cost and expense, in a form and content satisfactory to City, during the entire term of this Agreement including any extension thereof, the following policies of insurance which shall cover all elected and appointed officers, employees and agents of City: (a) General Liability Insurance (Occurrence Form CG0001 or equivalent). A policy of comprehensive general liability insurance written on a per occurrence basis for bodily injury, personal injury and property damage. The policy of insurance shall be in an amount not less than $1,000,000.00 per occurrence or if a general aggregate limit is used, then the general aggregate limit shall be twice the occurrence limit.

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below or on a facultative basis, subject to the requirements set forth in Section B below. The specifications for all reinsurance under this Agreement are provided in Schedule A. A. Requirements for Automatic Reinsurance For risks which meet the requirements for automatic reinsurance as set forth below, Reinsurer will participate in a reinsurance pool whereby Reinsurer will automatically reinsure a portion of the insurance risks as indicated in Schedule A. The requirements for automatic reinsurance are as follows: 1. Each life must be a resident of the United States or Canada at the time of application. 2. Each life must be underwritten according to the Ceding Company's standard underwriting practices and guidelines. Any life falling into the category of special underwriting programs will be excluded from this Agreement unless previously agreed to by the Reinsurer via a written amendment. 3. Any risk offered on a facultative basis by the Ceding Company to the Reinsurer or any other company will not qualify for automatic reinsurance under this Agreement for the same risk and same life. 4. The maximum issue age on any risk will be age 85. 5. The mortality rating on each risk must not exceed Table 16, Table P, or 500%, or its equivalent, as shown in the Ceding Company's retention schedule, on a flat extra premium basis. However, one life may be uninsurable if the other life meets the preceding requirements. 6. The total face amount of insurance for the Plans of Insurance in Schedule A to be reinsured on an automatic basis must not exceed the Automatic Issue Limits in Exhibit II. 7. The total amount of insurance issued and applied for in all companies on each life must not exceed the jumbo limits as stated in Exhibit II. 8. The Ceding Company shall retain it's maximum limit of retention for the age and risk classification of each life, as shown in Exhibit II, either on previous insurance or insurance currently applied for.

  • Insurance Cover Without prejudice to the provisions contained in Clause 26.1, the Concessionaire shall, during the Operation Period, procure and maintain Insurance Cover including but not limited to the following: (a) Loss, damage or destruction of the Project Assets, including assets handed over by the Authority to the Concessionaire, at replacement value; (b) Comprehensive third party liability insurance including injury to or death of personnel of the Authority or others caused by the Project; (c) The Concessionaire’s general liability arising out of the Concession; (d) Liability to third parties for goods or property damage; (e) Workmen’s compensation insurance; and (f) any other insurance that may be necessary to protect the Concessionaire and its employees, including all Force Majeure Events that are insurable at commercially reasonable premiums and not otherwise covered in items(a) to (e) above.