ARTICLE XX EARLY RETIREMENT INCENTIVE PROGRAM

Foster School District

A. A member of the bargaining unit who has served in the Foster School Department for at least ten (10) years shall be eligible to receive the medical benefits of this Article provided that the teacher is eligible and enters early retirement on either Social Security or the state Teachers' Retirement System.

B. Said member shall notify the Committee of their intent to retire by January 1st of the current school year of their service. Said January 1st notification shall be waived in the event of any enactment of retirement legislation which could impact on a Foster teacher's decision to retire (e.g. 90 H 8232 -- an Act Relating to an Early Retirement Incentive).

C. A member of the bargaining unit, hired before July 10, 2015, shall receive individual medical coverage for a maximum of six (6) years, or until the first of the following occurrences:

1. receipt of medical insurance from any other source;
2. eligibility for Federal Medicare, Medicaid, or comparable medical;
3. death.

Employees hired after July 10, 2015 shall not be eligible for this benefit. Employees who retire prior to July 10, 2015 shall not be subject to the six (6) year maximum limitation.

Said member may, if he/she desires, purchase family coverage or additional individual for a spouse at their own expense.

If a retiree elects to cease coverage through the Foster School Committee for any reason (e.g., receipt of medical coverage through a spouse), he or she shall be permitted to recommence coverage at a later date, provided he or she is otherwise qualified under this subsection.

D. Those who retire prior to July 10, 2015, shall continue to pay the same co-payment they are currently pay. Teachers who retire on or after July 10, 2015, shall pay the same co-payment of medical insurance premiums as then current employees for each year of coverage, up to a maximum of six years as provided in subsection C (immediately above).