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51 paid by the County as prescribed by the Florida Statute Section 112.19(h)1 (first introduced as the Alu- O'Hara Public Safety Act). SURVIVORSHIP BENEFITS The surviving spouse of a retiree is eligible to continue coverage under the group plan subject to premium payments applicable to an individual retiree at the current subsidized rate until the spouse remarries or terminates coverage. No benefit (other than COBRA) is offered to surviving beneficiary of the active employee. SUSPENSION OF SUBSIDY In the event that Indian River County is notified that the applicable official or board responsible for paying benefits under a public retirement system has placed a hold or stay on paying benefits to a retired employee under section 112.3173, Florida Statutes, Indian River County will cease providing a health subsidy to that retired employee effective retroactive to the date the hold was placed on the account. The retired employee will assume responsibility for the full monthly premium amount retroactive to the month the hold was placed on the account. Under this provision, if the retired employee fails to make full premium payment within 30 days of notification, the benefits will be cancelled. Indian River County will provide the retired employee with reinstatement of such subsidy if, and when, such official or board determines that the retired employee retirement benefit are not to be forfeited. If benefits are determined to be forfeited, the retired employee is no longer eligible for retiree benefits as identified in the loss of eligibility provisions above. LIFE INSURANCE Retiring employees have an option of participating in the Employer sponsored group life policy. Retirees who retired before October 1, 1999 are eligible for a $10,000 policy, with the benefit being reduced to $5,000 upon attainment of age 70. Retirees who retired after October 1, 1999, are eligible for a $20,000 policy, with the benefit being reduced to $10,000 upon attainment of age 70. The cost of the insurance is paid by retiree. COBRA BENEFITS Former employees, retirees and dependents may be eligible for an extended benefit under COBRA, regardless of the terms of the employer's other post -employment benefits. COBRA benefits are not considered as other post -employment benefits for the purposes of GASB Statement No. 45. TERMINATION AND AMENDMENT The post -employment benefits are extended to retirees and continued at the discretion of the Employer, which reserves the right (subject to State Statute and any collective bargaining agreements) to change or terminate benefits and to change premium contributions required from retirees in the future as circumstances change. -4-