Common use of Retiree Subsidy Clause in Contracts

Retiree Subsidy. The provisions of this Article and all its subsections shall sunset effective June 30, 2006 and bargaining unit members who retire after June 30, 2006 will no longer be eligible for any retiree subsidy. Effective July 1, 2006, all retirees previously eligible for the subsidy as of June 30, 2006, shall be eligible to receive the retire subsidy. The cost of such subsidy shall not exceed .00151641 of the budgeted General Fund property tax revenues. (the “Cap”). Any and all monies paid by the District under the State plan for the Public Employees Benefit Plan subsidy or its equivalent, which are not reimbursed by the State, shall be credited dollar for dollar against the CAP. The retirees’ insurance subsidy shall be paid as follows: The District will pay 40% of the monthly medical insurance costs that it pays for medical insurance for its active full-time Bargaining unit members, for each and every eligible retiree who elects to participate in one of the District’s self- insured group health plans. After the Cap is reached, no retiree subsidy will be paid for that fiscal year.”

Retiree Subsidy. The provisions of this Article and all its subsections shall sunset effective June 30, 2006 and bargaining unit members administrators who retire after June 30, 2006 will no longer be eligible for any retiree subsidy. Effective July 1, 2006, all retirees previously eligible for the subsidy as of June 30, 2006, shall be eligible to receive the retire subsidy. The cost of such subsidy shall not exceed .00151641 of the budgeted General Fund property tax revenues. (the “Cap”). Any and all monies paid by the District under the State plan for the Public Employees Administrators Benefit Plan subsidy or its equivalent, which are not reimbursed by the State, shall be credited dollar for dollar against the CAP. The retirees’ insurance subsidy shall be paid as follows: The District will pay 40% of the monthly medical insurance costs that it pays for medical insurance for its active full-time Bargaining unit membersAdministrators, for each and every eligible retiree who elects to participate in one of the District’s self- self-insured group health plans. After the Cap is reached, no retiree subsidy will be paid for that fiscal year.”