Agenda - 09-01-1998 - 9b - Laserfiche WebLink

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o All ABC employees az of Jmuary 1, 1998 (rather [hw Daly Nou with I S years az o(Nat dale) would be eligible for retir« heahh insurance with I S years service and o The ABC Board would pay Ne full cost of [his coverage. ABC employees hued after Iwuary 1, 1998 woWd be covered by Ne new policy effecfive az of that date; that is, they would be eligible ro participate in the ABC group health insurmce wish 25 years service by paying Ne fWl cost. 3. Svecifc Emvlovees Aff«ted Prior to requesting the actuarial information from Ne NCACC HeWN Wumwe Trust, Persowel smBObminW from ABC Direnor Pearson specific ~ rmatiov as m Ne age, ABC urvice aW rethemem eligibility for Ne oven employces who wnWd be affected by exrending Ne grwdfaN« provision Based on this, Pasowel pmjec[W each employee's retirement eligibility date wd age ac rethemrnt if Ne employee <ompleuM Ne IS years ABC service ne«ssary to qualify for ABC retiree health ivurance wdrr Ne gwdfather provision. Persowel Nan provided Neu proj«tioru to ABC Duxmr Pearson wM verifiM Ne aammny. Attadwent 2 shows for We scum employ«s Ne fiscal year iv wldch each employs would lust be eligNlem refve (wheNer a full urvioe reNemwt or w early retirement) wiN IS Years ABC service. It Wu shows the emPloYce's age at ret'vemmt and Ne yeah from Necwent date. For example, Ne fnn dnte ova of the uvm employees woWd be eligible to retve is m fiscal year 2002-03 if the avployce mvolvN worked wdl ~e ]0. 4. Feedb kfio the NCACC HeWNI T Plw Advwd Persorvrel provided the information on dre seven employ«s Wong wiN iWbrrvafion ov dw ABC Board retiree MWN iveuren« policy m the NCACC HeaIN Inaurev« Trutt's Plw AdmiWmamr aM requested fecdbeck on N<acnunal impact ifthe van employees were coved wder tlx ABC refuee hwlN imiuence grevdGther provision. Iv response m Ne Cowty's rrywsl, Gerry Green, Senior Vice PresidenVMewging Ex«ufive fve Sedgwick Nobl<LOwmWes ofNe Carolisus, Ne Trust's hmlN ivsumv« plan admiwanabr, advises az follows: o Employ«s who rethe at age 65 or vld« arc covered by iMividuW Mdicare Supplement Irisumnce and arc vot covered wder a group heWN Nsurwce plan. Thus, Ne cost m the ABC Board for coverage for such a retiree is tlx cost oENe individual Medicare Supplemem policy. Such coverage has no impact on Ne ABC Board's group heWN imurwce rate. Por example, ttuve o[dv seven employees (numbers 1, 2 wd 6) on Na