Retiree Coverage definition

Retiree Coverage. Bargaining unit employees, who qualify, and who retire from the District shall be entitled to health and prescription insurance, dental insurance and vision insurance for themselves and their dependents. Retiring from the District means retiring into the STRS or PERS system upon severance from the District. Eligible (qualifying) employees shall have reached their fifty-fifth birthday and shall have served a minimum of ten (10) consecutive years in the District prior to retirement. The retired employee shall be required to contribute ten percent (10%) of the total cost, not to exceed $150 per year. Employees hired prior to April 1, 1985 must have served a minimum of five (5) consecutive years in the District and reached the age of fifty-five (55) in order to receive benefits under this Article. Eligible employees hired after February 1, 1989 will receive retiree health coverage to age 65. Regular, part-time employees in an employment status as of January 31, 1989 who later gain eligibility for health and welfare benefits will not be limited to retiree health coverage to age 65. Employees hired after July 1, 2005, must have served a minimum of fifteen (15) consecutive years in the District and reached the age of fifty-eight (58) to receive retiree health coverage to age 65.
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Retiree Coverage. Bargaining unit members, who qualify, and who retire from the District shall be entitled to health and prescription insurance, dental insurance and vision insurance for themselves and their dependents based on the criteria below. Retiring from the District means retiring into the STRS or PERS system upon severance from the District. Eligible (qualifying) unit members hired after February 1, 1989 will receive retiree health coverage to age 65. Regular, part-time unit members in an employment status as of January 31, 1989 who later gain eligibility for health and welfare benefits will not be limited to retiree health coverage to age 65. Unit members hired after July 1, 2005, must have served a minimum of fifteen (15) consecutive years in the District and reached the age of fifty-eight (58) to receive retiree health coverage to age 65.
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Examples of Retiree Coverage in a sentence

  • If the Executive’s employment shall be terminated by the Executive without Good Reason, this Agreement shall terminate without further obligations to the Executive other than the obligation to pay or provide to the Executive (A) the Accrued Obligations, (B) the Other Benefits, and (C) the Retiree Coverage.

  • In addition, in the event that the Executive is a Specified Executive, any cash payments in respect of the Retiree Coverage shall be paid to the Executive (or, as applicable, his spouse on the date hereof) on the later of (i) the Delayed Payment Date and (ii) the date that such payments would have otherwise been paid pursuant to the Retiree Coverage.

  • Group insurance terminates at the close of the month of resignation or retirement, with the exception of Bargaining Unit members covered under Section G (Retiree Coverage).

  • In addition, in the event that the Executive is a Specified Employee, any cash payments in respect of the Retiree Coverage shall be paid to the Executive (or, as applicable, his spouse on the date hereof) on the later of (i) the Delayed Payment Date and (ii) the date that such payments would have otherwise been paid pursuant to the Retiree Coverage.

  • The Company shall take all action necessary to ensure that the Equivalent Retiree Coverage, if any, shall be provided other than pursuant to the terms of a self-insured medical reimbursement plan that does not satisfy the requirements of Section 105(h)(2) of the Internal Revenue Code of 1986, as amended.

  • Accrued Obligations, the Pro- Rata Performance Bonus Payment, and Pro-Rata Incentive Payment shall be paid to the Executive’s estate or beneficiary, as applicable, in a lump sum in cash within sixty 60 days of the Date of Termination, and the payment in respect of the Retiree Coverage (which will be in addition to any rights to COBRA Coverage) shall be paid as soon as reasonably practicable following the Executive’s death but in no event later than the end of the COBRA Coverage period.

  • Employment-Based Retiree Coverage means coverage of health care costs under a Group Health Plan based on an individual's status as a retired participant in the plan, or as the spouse or dependent of a retired participant.

  • Substantially all of the debt is collateralized by mortgages on ships, tank containers and terminals with a net carrying value of $1.1 billion as of November 30, 2006.

  • Accrued Obligations and the Pro-Rata Incentive Payment shall be paid to the Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination, and the payment in respect of the Retiree Coverage (which will be in addition to any rights to COBRA Coverage) shall be paid as soon as reasonably practicable following the Executive’s death but in no event later than the end of the COBRA Coverage period.

  • Accrued Obligations, the Pro- Rata Performance Bonus Payment, and Pro-Rata Incentive Payment shall be paid to the Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination, and the payment in respect of the Retiree Coverage (which will be in addition to any rights to COBRA Coverage) shall be paid as soon as reasonably practicable following the Executive’s death but in no event later than the end of the COBRA Coverage period.

Related to Retiree Coverage

  • Continuation Coverage means the temporary continuation of PEBB benefits available to enrollees under the Consolidated Omnibus Budget Reconciliation Act (COBRA), 42 U.S.C. Secs. 300bb-1 through 300bb-8, the Uniformed Services Employment and Reemployment Rights Act (USERRA), 38 U.S.C. Secs. 4301 through 4335, or the public employees benefits board's policies.

  • 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:

  • Coverage or “Covering”) shall mean that the developing, making, using, offering for sale, promoting, selling or importing of a given compound, formulation or product would infringe a Valid Claim of an issued patent in the absence of a license under such Valid Claim. The determination of whether a compound, formulation or product is Covered by a particular Valid Claim shall be made on a country-by-country basis.

  • Health care coverage means any plan providing hospital, medical or surgical care coverage for

  • Retiree means any person who has begun accruing a retirement