Employees Hired After June 7, 2011. To be eligible for the retiree health and dental benefits, employees hired after June 7, 2011 must have been employed by the City of Alameda for no less than ten years and must retire from the City of Alameda within 120 days of separation. Upon retirement with at least ten years of service, the City shall contribute up to the single-party rate for either the Kaiser or Blue Shield Bay Area health plans in the Region or Area that Alameda County is assigned by CalPERS (whichever plan is chosen by the employee).Should an employee elect a plan other than Kaiser or Blue Shield, the maximum contribution by the City shall be an amount not to exceed the higher of the Kaiser or Blue Shield Bay Area rates in the Region or Area that Alameda County is assigned by CalPERS and shall not exceed the cost of the elected plan. When the employee becomes eligible for Medicare, the Medicare supplement rates for Kaiser or Blue Shield will apply. At the time of separation, the employee shall be allowed to contribute any unused vacation leave, unused compensatory leave and up to 50% of unused sick leave, into a 401(a)(h) plan subject to the IRS limitations. For dental, the City shall provide dental benefits up to the one-party rate. In any year in which Blue Shield is not offered, the limit to reimbursement will be he higher of either the Kaiser two-party premium or the average of all plans offered in the Region or Area that Alameda County is assigned by CalPERS. The averaging of plans is limited to only the impacted categories that no longer offer Blue Shield (Basic Combination, or Supplemental/Managed Medicare). Effective the first full pay period after January 1, 2016, employees hired after June 7, 2011 shall contribute an amount equal to 2% of regular base monthly salary to a supplemental retirement plan created under IRC 401(a) and 401(h) and to be invested in a way chosen by the employees. Contributions to the supplemental retirement plan shall be on a “pick up” basis as defined in IRC 414(h)(2). This supplemental retirement plan allows the accrual of retiree health benefits. Contributions are divided 25% to the 401(h) or retiree health bucket, and 75% to the 401(a) or retiree income bucket. The plan will be administered by a third party administrator, Xxxxx and Associates Inc. All plan expenses will be paid by the participants from the trust. Upon separation from service, the employee shall contribute any unused vacation leave, unused compensatory leave and any unused sick leave that has not been converted to PERS Service Credit, into the plan, subject to IRS limitations. The City is not responsible in any way for any contribution or “pick up” to the above- described supplemental retirement plan.
Appears in 1 contract
Samples: Memorandum of Understanding
Employees Hired After June 7, 2011. To be eligible for the retiree health and dental benefits, employees hired after June 7, 2011 must have been employed by the City of Alameda for no less than ten years and must retire from the City of Alameda within 120 days of separation. Upon retirement with at least ten years of service, the City shall contribute up to the single-party rate for either the Kaiser Xxxxxx or Blue Shield Bay Area health plans in the Region or Area that Alameda County is assigned by CalPERS (whichever plan is chosen by the employee).Should employee). Should an employee elect a plan other than Kaiser Xxxxxx or Blue Shield, the maximum contribution by the City shall be an amount not to exceed the higher of the Kaiser Xxxxxx or Blue Shield Bay Area rates in the Region or Area that Alameda County is assigned by CalPERS and shall not exceed the cost of the elected plan. When the employee becomes eligible for Medicare, the Medicare supplement rates for Kaiser Xxxxxx or Blue Shield will apply. At the time of separation, the employee shall be allowed to contribute any unused vacation leave, unused compensatory leave and up to 50% of unused sick leave, into a 401(a)(h) plan subject to the IRS limitations. For dental, the City shall provide dental benefits up to the onesingle-party rate. In any year in which Blue Shield is not offered, the limit to reimbursement will be he the higher of either the Kaiser two-Xxxxxx two –party premium or the average of all plans offered in the Region or Area that Alameda County is assigned by CalPERS. The averaging of plans is limited to only the impacted categories that no longer offer Blue Shield (Basic Basic, Combination, or Supplemental/Managed Medicare). Effective the first full pay period after January 1, 20162013, employees hired after June 7, 2011 shall contribute an amount equal to 23% of regular base monthly salary to a supplemental retirement plan created under IRC 401(a) and 401(h) and to be invested in a way chosen by the employees. Contributions to the supplemental retirement plan shall be on a “pick up” basis as defined in IRC 414(h)(2). This supplemental retirement plan allows the accrual of retiree health benefits. Contributions are divided 25% to the 401(h) or retiree health bucket, and 75% to the 401(a) or retiree income bucket. The plan will be administered by a third party administrator, Xxxxx and Associates Inc. All plan expenses will be paid by the participants from the trust. Upon separation from service, the employee shall contribute any unused vacation leave, unused compensatory leave and any unused sick leave that has not been converted to PERS Service Creditservice credit, into the plan, subject to IRS limitations. Effective the first full pay period after January 1, 2016, and continuing thereafter until modified by subsequent agreement, all employees hired after June 7, 2011 shall uniformly reduce their contribution from 3% to 2% of regular base salary to the supplemental retirement plan. The City is not responsible in any way for any contribution or “pick up” to the above- described supplemental retirement plan.
Appears in 1 contract
Samples: Memorandum of Understanding
Employees Hired After June 7, 2011. To be eligible for the retiree health and dental benefits, employees hired after June 7, 2011 must have been employed by the City of Alameda for no less than ten years and must retire from the City of Alameda within 120 days of separation. Upon retirement with at least ten years of service, the City shall contribute up to the single-party rate for either the Kaiser or Blue Shield Bay Area health plans in the Region or Area that Alameda County is assigned by CalPERS (whichever plan is chosen by the employee).Should employee). Should an employee elect a plan other than Kaiser or Blue Shield, the maximum contribution by the City shall be an amount not to exceed the higher of the Kaiser or Blue Shield Bay Area rates in the Region or Area that Alameda County is assigned by CalPERS and shall not exceed the cost of the elected plan. When the employee becomes eligible for Medicare, the Medicare supplement rates for Kaiser or Blue Shield will apply. At the time of separation, the employee shall be allowed to contribute any unused vacation leave, unused compensatory leave and up to 50% of unused sick leave, into a 401(a)(h) plan subject to the IRS limitations. For dental, the City shall provide dental benefits up to the one-party rate. In any year in which Should either the Kaiser or Blue Shield is not plans no longer be offered, the limit to reimbursement will be he higher of either the Kaiser two-party premium or the average of all plans offered in the Region or Area that Alameda County is assigned by CalPERS. The averaging of plans is limited to only the impacted categories that no longer offer Blue Shield (Basic Combination, or Supplemental/Managed Medicare)parties shall meet and confer on a substitute provider. Effective the first full pay period after January 1, 2016, employees hired after June 7, 2011 shall contribute an amount equal to 2% of regular base monthly salary to a supplemental retirement plan created under IRC 401(a) and 401(h) and to be invested in a way chosen by the employees. Contributions to the supplemental retirement plan shall be on a “pick up” basis as defined in IRC 414(h)(2). This supplemental retirement plan allows the accrual of retiree health benefits. Contributions are divided 25% to the 401(h) or retiree health bucket, and 75% to the 401(a) or retiree income bucket. The plan will be administered by a third party administrator, Xxxxx and Associates Inc. All plan expenses will be paid by the participants from the trust. Upon separation from service, the employee shall contribute any unused vacation leave, unused compensatory leave and any unused sick leave that has not been converted to PERS Service Credit, into the plan, subject to IRS limitations. The City is not responsible in any way for any contribution or “pick up” to the above- described supplemental retirement plan.
Appears in 1 contract
Samples: Memorandum of Understanding
Employees Hired After June 7, 2011. To be eligible for the retiree health and dental benefits, employees hired after June 7, 2011 must have been employed by the City of Alameda for no less than ten years and must retire from the City of Alameda within 120 days of separation. Upon retirement with at least ten years of service, the City shall contribute up to the single-party rate for either the Kaiser or Blue Shield Bay Area health plans in the Region or Area that Alameda County is assigned by CalPERS (whichever plan is chosen by the employee).Should employee). Should an employee elect a plan other than Kaiser or Blue Shield, the maximum contribution by the City shall be an amount not to exceed the higher of the Kaiser or Blue Shield Bay Area rates in the Region or Area that Alameda County is assigned by CalPERS and shall not exceed the cost of the elected plan. When the employee becomes eligible for Medicare, the Medicare supplement rates for Kaiser or Blue Shield will apply. At the time of separation, the employee shall be allowed to contribute any unused vacation leave, unused compensatory leave and up to 50% of unused sick leave, into a 401(a)(h) plan subject to the IRS limitations. For dental, the City shall provide dental benefits up to the onesingle-party rate. In any year in which Should either the Kaiser or Blue Shield is not plans no longer be offered, the limit to reimbursement will be he higher of either the Kaiser two-party premium or the average of all plans offered in the Region or Area that Alameda County is assigned by CalPERS. The averaging of plans is limited to only the impacted categories that no longer offer Blue Shield (Basic Combination, or Supplemental/Managed Medicare)parties shall meet and confer on a substitute provider. Effective the first full pay period after January 1, 20162013, employees hired after June 7, 2011 shall contribute an amount equal to 23% of regular base monthly salary to a supplemental retirement plan created under IRC 401(a) and 401(h) and to be invested in a way chosen by the employees. Contributions to the supplemental retirement plan shall be on a “pick up” basis as defined in IRC 414(h)(2). This supplemental retirement plan allows the accrual of retiree health benefits. Contributions are divided 25% to the 401(h) or retiree health bucket, and 75% to the 401(a) or retiree income bucket. The plan will be administered by a third party administrator, Xxxxx and Associates Inc. All plan expenses will be paid by the participants from the trust. Upon separation from service, the employee shall contribute any unused vacation leave, unused compensatory leave and any unused sick leave that has not been converted to PERS Service Creditservice credit, into the plan, subject to IRS limitations. Effective the first full pay period after January 1, 2016, and continuing thereafter until modified by subsequent agreement, all employees hired after June 7, 2011 shall uniformly reduce their contribution from 3% to 2% of regular base month salary to the supplemental retirement plan. The City is not responsible in any way for any contribution or “pick up” to the above- described supplemental retirement plan.
Appears in 1 contract
Samples: Memorandum of Understanding
Employees Hired After June 7, 2011. To be eligible for the retiree health and dental benefits, employees hired after June 7, 2011 must have been employed by the City of Alameda for no less than ten years and must retire from the City of Alameda within 120 days of separation. Upon retirement with at least ten years of service, the City shall contribute up to the single-party rate for either the Kaiser or Blue Shield Bay Area health plans in the Region or Area that Alameda County is assigned by CalPERS (whichever plan is chosen by the employee).Should employee). Should an employee elect a plan other than Kaiser or Blue Shield, the maximum contribution by the City shall be an amount not to exceed the higher of the Kaiser or Blue Shield Bay Area rates in the Region or Area that Alameda County is assigned by CalPERS and shall not exceed the cost of the elected plan. When the employee becomes eligible for Medicare, the Medicare supplement rates for Kaiser or Blue Shield will apply. At For dental, the time City shall provide dental benefits up to the single-party rate. Should either the Kaiser or Blue Shield plans no longer be offered, the parties shall meet and confer on a substitute provider. Effective January 1, 2013, employees hired after June 7, 2011 shall contribute an amount equal to 3% of separationregular base monthly salary on a “pick up” basis as defined in IRC 414(h)(2) to a supplemental retirement plan which allows the accrual of retiree health benefits, and continuing thereafter until modified by subsequent agreement. The plan will be administered by a third party administrator, and all plan expenses will be paid by the participants from the trust. All employees hired after June 7, 2011 shall uniformly contribute 3% of regular base monthly salary (in this case a pick up contribution described under IRC 414(h)(2)) to the plan, and the amount is invested in a way chosen by the employee. The money is divided 25% to the (h) or retiree health bucket, and 75% to the
(a) or retiree income bucket. The plan will be administered by Xxxxx and Associates Inc.. Upon separation from service, the employee shall be allowed to contribute any unused vacation leave, unused compensatory leave and up to 50% of unused sick leave, into a 401(a)(h) plan subject to the IRS limitations. For dental, the City shall provide dental benefits up to the one-party rate. In any year in which Blue Shield is not offered, the limit to reimbursement will be he higher of either the Kaiser two-party premium or the average of all plans offered in the Region or Area that Alameda County is assigned by CalPERS. The averaging of plans is limited to only the impacted categories that no longer offer Blue Shield (Basic Combination, or Supplemental/Managed Medicare). Effective the first full pay period after January 1, 2016, employees hired after June 7, 2011 shall contribute an amount equal to 2% of regular base monthly salary to a supplemental retirement plan created under IRC 401(a) and 401(h) and to be invested in a way chosen by the employees. Contributions to the supplemental retirement plan shall be on a “pick up” basis as defined in IRC 414(h)(2). This supplemental retirement plan allows the accrual of retiree health benefits. Contributions are divided 25% to the 401(h) or retiree health bucket, and 75% to the 401(a) or retiree income bucket. The plan will be administered by a third party administrator, Xxxxx and Associates Inc. All plan expenses will be paid by the participants from the trust. Upon separation from service, the employee shall contribute any unused vacation leave, unused compensatory leave and any unused sick leave that has not been converted to PERS Service Credit, into the plan, subject to IRS limitations. The City is not responsible in any way for any contribution or “pick up” to the above- described supplemental retirement plan.
Appears in 1 contract
Samples: Memorandum of Understanding
Employees Hired After June 7, 2011. To be eligible for the retiree health and dental benefits, employees hired after June 7, 2011 must have been employed by the City of Alameda for no less than ten years and must retire from the City of Alameda within 120 days of separation. Upon retirement with at least ten years of service, the City shall contribute up to the single-party rate for either the Kaiser or Blue Shield Bay Area health plans in the Region or Area that Alameda County is assigned by CalPERS (whichever plan is chosen by the employee).Should employee). Should an employee elect a plan other than Kaiser or Blue Shield, the maximum contribution by the City shall be an amount not to exceed the higher of the Kaiser or Blue Shield Bay Area rates in the Region or Area that Alameda County is assigned by CalPERS and shall not exceed the cost of the elected plan. When the employee becomes eligible for Medicare, the Medicare supplement rates for Kaiser or Blue Shield will apply. At the time of separation, the employee shall be allowed to contribute any unused vacation leave, unused compensatory leave and up to 50% of unused sick leave, into a 401(a)(h) plan subject to the IRS limitations. For dental, the City shall provide dental benefits up to the onesingle-party rate. In any year in which Blue Shield is not offered, the limit to reimbursement will be he the higher of either the Kaiser two-two –party premium or the average of all plans offered in the Region or Area that Alameda County is assigned by CalPERS. The averaging of plans is limited to only the impacted categories that no longer offer Blue Shield (Basic Basic, Combination, or Supplemental/Managed Medicare). Effective the first full pay period after January 1, 20162013, employees hired after June 7, 2011 shall contribute an amount equal to 23% of regular base monthly salary to a supplemental retirement plan created under IRC 401(a) and 401(h) and to be invested in a way chosen by the employees. Contributions to the supplemental retirement plan shall be on a “pick up” basis as defined in IRC 414(h)(2). This supplemental retirement plan allows the accrual of retiree health benefits. Contributions are divided 25% to the 401(h) or retiree health bucket, and 75% to the 401(a) or retiree income bucket. The plan will be administered by a third party administrator, Xxxxx and Associates Inc. All plan expenses will be paid by the participants from the trust. Upon separation from service, the employee shall contribute any unused vacation leave, unused compensatory leave and any unused sick leave that has not been converted to PERS Service Creditservice credit, into the plan, subject to IRS limitations. Effective the first full pay period after January 1, 2016, and continuing thereafter until modified by subsequent agreement, all employees hired after June 7, 2011 shall uniformly reduce their contribution from 3% to 2% of regular base salary to the supplemental retirement plan. The City is not responsible in any way for any contribution or “pick up” to the above- described supplemental retirement plan.
Appears in 1 contract
Samples: Memorandum of Understanding
Employees Hired After June 7, 2011. To be eligible for the retiree health and dental benefits, employees hired after June 7, 2011 must have been employed by the City of Alameda for no less than ten years and must retire from the City of Alameda within 120 days of separation. Upon retirement with at least ten years of service, the City shall contribute up to the single-party rate for either the Kaiser Xxxxxx or Blue Shield Bay Area health plans in the Region or Area that Alameda County is assigned by CalPERS (whichever plan is chosen by the employee).Should an employee elect a plan other than Kaiser Xxxxxx or Blue Shield, the maximum contribution by the City shall be an amount not to exceed the higher of the Kaiser Xxxxxx or Blue Shield Bay Area rates in the Region or Area that Alameda County is assigned by CalPERS and shall not exceed the cost of the elected plan. When the employee becomes eligible for Medicare, the Medicare supplement rates for Kaiser Xxxxxx or Blue Shield will apply. At the time of separation, the employee shall be allowed to contribute any unused vacation leave, unused compensatory leave and up to 50% of unused sick leave, into a 401(a)(h) plan subject to the IRS limitations. For dental, the City shall provide dental benefits up to the one-party rate. In any year in which Blue Shield is not offered, the limit to reimbursement will be he higher of either the Kaiser Xxxxxx two-party premium or the average of all plans offered in the Region or Area that Alameda County is assigned by CalPERS. The averaging of plans is limited to only the impacted categories that no longer offer Blue Shield (Basic Combination, or Supplemental/Managed Medicare). Effective the first full pay period after January 1, 2016, employees hired after June 7, 2011 shall contribute an amount equal to 2% of regular base monthly salary to a supplemental retirement plan created under IRC 401(a) and 401(h) and to be invested in a way chosen by the employees. Contributions to the supplemental retirement plan shall be on a “pick up” basis as defined in IRC 414(h)(2). This supplemental retirement plan allows the accrual of retiree health benefits. Contributions are divided 25% to the 401(h) or retiree health bucket, and 75% to the 401(a) or retiree income bucket. The plan will be administered by a third party administrator, Xxxxx and Associates Inc. All plan expenses will be paid by the participants from the trust. Upon separation from service, the employee shall contribute any unused vacation leave, unused compensatory leave and any unused sick leave that has not been converted to PERS Service Credit, into the plan, subject to IRS limitations. The City is not responsible in any way for any contribution or “pick up” to the above- described supplemental retirement plan.
Appears in 1 contract
Samples: Memorandum of Understanding
Employees Hired After June 7, 2011. To be eligible for the retiree health and dental benefits, employees hired after June 7, 2011 must have been employed by the City of Alameda for no less than ten years and must retire from the City of Alameda within 120 days of separation. Upon retirement with at least ten years of service, the City shall contribute up to the single-party rate for either the Kaiser or Blue Shield Bay Area health plans in the Region or Area that Alameda County is assigned by CalPERS (whichever plan is chosen by the employee).Should employee). Should an employee elect a plan other than Kaiser or Blue Shield, the maximum contribution by the City shall be an amount not to exceed the higher of the Kaiser or Blue Shield Bay Area rates in the Region or Area that Alameda County is assigned by CalPERS and shall not exceed the cost of the elected plan. When the employee becomes eligible for Medicare, the Medicare supplement rates for Kaiser or Blue Shield will apply. At the time of separation, the employee shall be allowed to contribute any unused vacation leave, unused compensatory leave and up to 50% of unused sick leave, into a 401(a)(h) plan subject to the IRS limitations. For dental, the City shall provide dental benefits up to the onesingle-party rate. In any year in which Should either the Kaiser or Blue Shield is not plans no longer be offered, the limit to reimbursement will be he higher of either the Kaiser two-party premium or the average of all plans offered in the Region or Area that Alameda County is assigned by CalPERS. The averaging of plans is limited to only the impacted categories that no longer offer Blue Shield (Basic Combination, or Supplemental/Managed Medicare)parties shall meet and confer on a substitute provider. Effective the first full pay period after January 1, 20162013, employees hired after June 7, 2011 shall contribute an amount equal to 23% of regular base monthly salary to a supplemental retirement plan created under IRC 401(a) and 401(h) and to be invested in a way chosen by the employees. Contributions to the supplemental retirement plan shall be on a “pick up” basis as defined in IRC 414(h)(2). This supplemental retirement plan allows the accrual of retiree health benefits. Contributions are divided 25% to the 401(h) or retiree health bucket, and 75% to the 401(a) or retiree income bucket. The plan will be administered by a third party administrator, Xxxxx and Associates Inc. All plan expenses will be paid by the participants from the trust. Upon separation from service, the employee shall contribute any unused vacation leave, unused compensatory leave and any unused sick leave that has not been converted to PERS Service Creditservice credit, into the plan, subject to IRS limitations. Effective the first full pay period after January 1, 2016, and continuing thereafter until modified by subsequent agreement, all employees hired after June 7, 2011 shall uniformly reduce their contribution from 3% to 2% of regular base salary to the supplemental retirement plan. The City is not responsible in any way for any contribution or “pick up” to the above- described supplemental retirement plan.
Appears in 1 contract
Samples: Memorandum of Understanding
Employees Hired After June 7, 2011. To be eligible for the retiree health and dental benefits, employees hired after June 7, 2011 must have been employed by the City of Alameda for no less than ten years and must retire from the City of Alameda within 120 days of separation. Upon retirement with at least ten years of service, the City shall contribute up to the single-party rate for either the Kaiser or Blue Shield Bay Area health plans in the Region or Area that Alameda County is assigned by CalPERS (whichever plan is chosen by the employee).Should employee). Should an employee elect a plan other than Kaiser or Blue Shield, the maximum contribution by the City shall be an amount not to exceed the higher of the Kaiser or Blue Shield Bay Area rates in the Region or Area that Alameda County is assigned by CalPERS and shall not exceed the cost of the elected plan. When the employee becomes eligible for Medicare, the Medicare supplement rates for Kaiser or Blue Shield will apply. At the time of separationUpon separation from service, the employee shall be allowed to contribute any unused vacation leave, unused compensatory leave and up to 50% of unused sick leave, into a 401(a)(h) plan subject to the IRS limitations. For dental, the City shall provide dental benefits up to the onesingle-party rate. In any year in which Should either the Kaiser or Blue Shield is not plans no longer be offered, the limit to reimbursement will be he higher of either the Kaiser two-party premium or the average of all plans offered in the Region or Area that Alameda County is assigned by CalPERS. The averaging of plans is limited to only the impacted categories that no longer offer Blue Shield (Basic Combination, or Supplemental/Managed Medicare)parties shall meet and confer on a substitute provider. Effective the first full pay period after January 1, 2016, employees hired after June 7, 2011 shall contribute an amount equal to 2% of regular base monthly salary to a supplemental retirement plan created under IRC 401(a) and 401(h) and to be invested in a way chosen by the employees. Contributions to the supplemental retirement plan shall be on a “pick up” basis as defined in IRC 414(h)(2). This supplemental retirement plan allows the accrual of retiree health benefits. Contributions are divided 25% to the 401(h) or retiree health bucket, and 75% to the 401(a) or retiree income bucket. The plan will be administered by a third party administrator, Xxxxx and Associates Inc. All plan expenses will be paid by the participants from the trust. Upon separation from service, the employee shall contribute any unused vacation leave, unused compensatory leave and any unused sick leave that has not been converted to PERS Service Credit, into the plan, subject to IRS limitations. The City is not responsible in any way for any contribution or “pick up” to the above- above-described supplemental retirement plan.
Appears in 1 contract
Samples: Memorandum of Understanding