§ 2-110. Health insurance stipend for retired certified law enforcement officers.

(a)

The Village shall pay a post retirement benefit (the "Insurance Stipend") of $350.00 per month to each employee employed by the Village as a certified law enforcement officer who retires from that position after October 1, 2006 ("Retirees") under the normal retirement date set forth in Section 13-42 "Same - Retirement dates and retirement benefits" of the Village Code. Subject to compliance with the restrictions, conditions and limitations which are provided in this section, the Insurance Stipend shall continue until such time as the Retiree reaches age 65. This $350.00 Insurance Stipend shall commence once retirement benefits begin and shall be used by the Retiree solely to pay for his/her health insurance premiums, including dependent coverage. In order to qualify for the Insurance Stipend, Retirees shall complete an annual affidavit certifying that they are not receiving health insurance coverage from an employer and are not receiving other monies which are intended to pay for their health insurance premiums, and that the Insurance Stipend shall be used solely for the purposes which are authorized herein. The penalty for fraud or misrepresentation by any Retiree in this regard shall be the full reimbursement to the Village for all monies collected, all costs associated with such collection, and the forfeiture by Retiree of this Insurance Stipend benefit in the future.

(b)

As to those certified law enforcement officers covered by a collective bargaining agreement, nothing in this section shall authorize any insurance Stipend benefit, in type or amount, which is not provided by a collective bargaining agreement which is in full force and effect at the time any monthly benefit is to be paid.

(c)

Further, where such Insurance Stipend benefit is provided by an employment agreement between the Village and a non-bargaining unit member who works as a certified law enforcement officer for the Village, the employment agreement shall control the amount of the Insurance Stipend benefit.

(d)

The Insurance Stipend benefit provided herein shall be subject to annual Village budget requirements in accordance with applicable law.

(Ord. No. 521, § 2, 6-19-07)