Those members of the corporate authorities of the village, having served in office not less than eight continuous years as of May 4, 2005, and who thereafter retire or leave office shall hereby be entitled to alternate retired elected official benefits as hereinafter defined, and subject to the terms and conditions hereinafter set forth, provided, however, that alternate retired elected official benefits as hereinafter defined shall not be available to, received by or provided to any retired elected official entitled to receive retired elected official benefit pursuant to Ordinance No. 03-0099. Alternate Retired elected official benefits shall consist of the entitlement to participate in and receive health insurance coverage through the village employee health insurance program, with the cost thereof to an eligible recipient to be the cost paid by a similarly situated village employee (as the same may be adjusted from time to time), and the term or duration of the alternate retired elected official benefits shall commence at such time as an eligible elected official leaves public office within the village, for a period of time not to exceed 36 months from the date on which such eligible elected official leaves office. the health insurance coverage to be provided as alternate retired elected official benefits shall be the reasonable equivalent of the coverage provided to an eligible elected official as of the retirement of such elected official from elected office within the village. Any retired elected official may decline the alternate retired elected official benefits or terminate the alternate retired elected official benefits after initially receiving the same, but in either of such events, shall waive and forfeit the right to thereafter receive or resume the receipt of the alternate retired elected official benefits. Notwithstanding the preceding sentence, an elected official receiving the alternate retired elected official benefits shall be entitled to reduce the amount of alternate retired elected official benefits received upon the occurrence of a qualifying event under the village's health insurance policy in effect from time to time, but shall not thereafter be entitled to increase the amount of the alternate retired elected official benefits.
(Ord. 05-0276, passed 5-18-05)