[Adopted as Ch. 23 of the 1982 Revised General
Ordinances]
[Amended 5-17-2011 by Ord. No. 1379]
All employees who were hired on or before May
17, 2011, and who are not covered by a collective bargaining agreement,
who retire from the Borough of Stone Harbor, who upon retirement have
at least 25 years of service credit in the New Jersey State Retirement
System, and who have been employed by the Borough of Stone Harbor
for at least 25 years immediately prior to the date of their retirement,
and who have attained the age of 55 years shall, for themselves and
their spouses, continue to receive the same health benefits afforded
to full-time employees until such time as such retiree and/or his
or her spouse qualifies for Medicare. Once the retiree qualifies for
Medicare, the Borough will continue to supply the necessary supplemental
insurance to Medicare to provide, as near as practicable, similar
coverage to that of benefits of full-time Borough employees.
Each of such retiree shall notify the Chief
Financial Officer of the Borough of his or her desire for these benefits
prior to his or her retirement date and prior to December 1 of each
year with respect to such desire for the following year.