[Amended 5-20-2014 by Ord. No. 282-2014]
Subject to the definitions as set forth in N.J.S.A. 40A:10-16, and further subject to the terms of any applicable collective bargaining agreement, the City shall continue to provide for and pay the full premiums of health and hospital benefit coverage, as affected by Medicare, of retired City employees and their dependents at the time of retirement who have retired after 25 years or more of service credit in a state or locally administered system (or 27 years of service credit for employees hired on or after January 1, 2010) and a period of service of 25 years with the City (or 27 years of service with the City for employees hired on or after January 1, 2010) at the time of retirement. The provisions of this section apply only to those employees who retire in good standing.
For purposes of calculating years of service, the employee's years of service need not be continuous, and shall include all years of service as a full-time, permanent employee of the City, but shall not include any years during which an employee was employed on a short-term, seasonal, intermittent, or emergency basis.
All retired employees shall be required to contribute to the costs of the health insurance benefits provided herein, as is mandated by law, including P.L. 2011, Chapter 78. Such payments shall be withheld in equal installments throughout the year from the retired employee's retirement benefit payments. To the extent that P.L. 2011, Chapter 78 should be repealed, all retired employees shall be required to contribute to the cost of the health insurance benefits provided herein in accordance with the terms of any applicable collective bargaining agreement. In that event, the contributions of any employees not covered by a collective bargaining agreement shall be governed by the collective bargaining agreement with which that employee is most closely aligned, as designated in the City Personnel Policy Manual.
To the extent that any collective bargaining agreement to which the City is a party provides greater benefits to retired employees than the provisions of this section, the terms of that collective bargaining agreement govern the provision of health benefits to the employees covered by that agreement.
The City may, to the extent consistent with state law, enter into collective bargaining agreements that provide benefits that differ from those extended herein. Said collective bargaining agreements shall require ratification by the City Council.