BC 2016 11 21 Regular Meeting - Laserfiche WebLink

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November 21, 2016 (Regular Meeting) Page 2954 Other conditions: • Retiree premiums will be paid at the current actuarial premium rate and will be provided to the retired employee until they become eligible for Medicare (or reach the age where such benefits are available based on Social Security qualifications) . The retiree is required to notify the County when they become Medicare eligible. • Employee must be actively enrolled in the Cabarrus County health insurance plan at the time of retirement from NCLGERS. If an employee retires with this benefit and is later rehired or employed with another jurisdiction that participates in NCLGERS and offers health insurance (and the employee is eligible for retirement benefits) , then the retiree health insurance benefits provided by Cabarrus County will be terminated. • Retirees will be subject to any cost sharing required of current employees. • 100% premium group are eligible for 100% of discounts offered to employees. • 50% premium equals the current actuarial premium rate for the retiree health insurance plan and this group will be limited to 50% of any discounts offered employees. • Premiums amounts are subject to change. • Additional health care and insurance benefit information is located in Article IX, Section 2. The following information and tables indicate the required years of service to receive County paid health insurance premiums based on employee' s most recent hire/rehire date: New Hires/Rehires effective November 1, 2016 and thereafter (effective November 1, 2016) • Qualify for 100% premium coverage with 25 or more years of creditable service to Cabarrus County. • Qualify for 50% premium (calculated at the current actuarial premium rate) with more than 15 years of creditable service to Cabarrus County. Hires/Rehires between November 1, 2003 and October 31, 2016 (effective April 1, 2017) • Qualify for 100% premium coverage with 25 or more years of creditable service to Cabarrus County. • Qualify for 50% premium (calculated at the current actuarial premium rate) with more than 10 years of creditable service to Cabarrus County. Hires/Rehires between July 1, 1997 and October 31, 2003 (effective April 1, 2017) • Qualify for 100% premium coverage with 10 or more years of creditable service to Cabarrus County. • Employees hired between these dates and whom have continuous employment with the County until the date of their retirement from Cabarrus County will be vested to receive "County paid health plan and life insurance coverage". Hired Prior to July 1, 1997 (effective April 1, 2017) • If conditions above are all met to retain eligibility, employees agreeing to move to Vacation Schedule A (signed the acceptance agreement) , will qualify for 100% premium coverage. • Employees declining vacation modification (signed the declination agreement) remained on Vacation Schedule B and are not eligible for retiree health insurance. Retirees must meet all eligibility requirements including last 5 years as County employee. Hire/Rehire Date Eligible for 100% Eligible for 50% Not eligible Prior to 7/1/97 If signed If signed acceptance declination agreement for agreement for reduced vacation reduced vacation 7/1/97-10/31/03* 10 years N/A 11/1/03 - 10/31/16 25 years 110 years 11/1/16 or after 25 years 115 years