[§87A-33.5]  State and county contribution;
reimbursement for retired employees.  Effective July 1, 2007, an
employee-beneficiary who retires and relocates outside of the State shall be
reimbursed for the premiums paid by the employee-beneficiary for a personal
health insurance policy; provided that the board shall determine which
employee-beneficiaries and what types of personal health insurance policies
shall be eligible for reimbursement and may set other conditions that shall be
met for the employee-beneficiary to receive the reimbursements provided under
this section.



The reimbursement shall be the lesser of:



(1)  The actual cost of the personal health insurance
policy; or



(2)  The amount of the state or county contribution
for the most comparable health benefits plan.



Reimbursements shall be paid by the fund on a
quarterly basis upon the presentation of documentation that the premiums for
the personal health insurance policy have been paid by the
employee-beneficiary.  This section shall apply to all employee-beneficiaries
who retire and relocate outside of the State, regardless of their date of
retirement. [L 2006, c 167, §1]