(1) For those employee-beneficiaries who are not participating in a health benefits plan of an emp1oyee organization (hereafter "nonparticipating emp1oyee-beneficiaries"), the board of trustees shall establish health benefits plans and the requirements for eligibi1ity under the health benefits p1ans; or

(2) For employee-beneficiaries who participate in the health benefits plan of an employee organization, the board of trustees shal1 pay a monthly contribution for each employee-beneficiary, in the amount provided in section 87-4(a), or the actual month1y cost of the coverage, whichever is less, towards the purchase of health benefits under the health benefits plan of an employee organization. [L 1984, c 71, §1; am L 1997, c 276, §2; am L 2001, c 147, §2]