Health Care Savings Plan. As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator.
Subd. 1. All ASF Members who receive severance pay as defined in Section A of this article must participate in the health care savings plan.
Subd. 2. All severance pay as defined in Section B of this article shall be transferred to the severed employee's health care savings plan account. At the time of separation, if an ASF Member has an approved exception to participation in the health care savings plan account from the plan administrator, then the ASF Member shall receive this payment in one lump sum payment of cash.
Health Care Savings Plan. All employees shall contribute 1% of their gross earnings subject to retirement into a personal Health Care Savings Plan account with the Minnesota State Retirement System each pay period. The contribution shall occur regardless of whether or not the employee’s position is retirement eligible.
Health Care Savings Plan. ASF Members who have a HCSP waiver on file shall receive a two hundred fifty dollars ($250) cash payment. If the ASF Member separates due to death, the two hundred fifty dollars ($250) is paid in cash, not to the HCSP. An ASF Member who becomes totally and permanently disabled on or after January 1, 2008, who received a State disability benefit, and is eligible for a deferred benefit under a State Retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. ASF Members are eligible for this benefit only once.
Health Care Savings Plan. If the employee separates due to death, the two hundred fifty dollar ($250) is paid in cash, not to the HCSP. Employees who have a HCSP waiver on file shall receive a two hundred fifty dollar ($250) cash payment. An employee who becomes totally and permanently disabled who receives a State disability benefit, and is eligible for a deferred annuity under a State retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. Employees are eligible for this benefit only once.
Health Care Savings Plan. Subd. 1. The employer shall arrange for the creation of a tax-free post-separation health care savings plan in accordance with Minnesota Statutes §§ 352.98 and 356.24. This program will be administered through the Minnesota State Retirement System. The employer shall establish within the plan an individual account for each faculty member.
Subd. 2. Upon separation from service by a faculty member, all severance payments made pursuant to Sections A and B of this article shall be deposited into the faculty member’s Health Care Savings Plan (HCSP), as described in Subdivision 1. If the severance payment is less than five hundred dollars ($500), the amount shall be paid as a lump sum to the faculty member. In the event of the death of the faculty member eligible to receive severance under Sections A and B, payment shall be made pursuant to Section A. If an employee eligible for severance pay provides the Employer with evidence of that individual’s receipt of a written exception to participation in the HCSP from the Plan Administrator prior to the time that deposit of severance pay is made to the employee’s HCSP account, the employee shall receive the entire severance amount as a lump sum payment.
Health Care Savings Plan. Employees who, for reasons other than layoff or death, are eligible to receive severance pay will have one hundred percent (100%) of severance pay, as defined in Section 1 above, and one hundred percent (100%) of vacation pay converted to an MSRS health care savings plan account. Employees who do not meet the requirements for the health care savings plan account, or whose combined severance and vacation pay totals less than five hundred dollars ($500) will continue to receive their severance and vacation payments in cash. See article 10 section 6 for vacation transfer to severance guidelines.
Health Care Savings Plan. The following supervisors shall have one hundred percent (100%) of severance pay and one hundred percent (100%) of vacation payout converted to a
Health Care Savings Plan. All employees shall contribute one percent (1%) of their gross earnings subject to retirement into a personal Health Care Savings Plan account with the Minnesota State Retirement System each pay period. The contribution shall occur regardless of whether or not the employee’s position is retirement eligible. Employees with twenty (20) or more years continuous service who separate from State service, for reasons other than layoff or death or discharge with just cause, who are eligible to receive severance pay, and who are immediately eligible for retirement benefits, will have one hundred percent (100%) of severance pay and one hundred percent (100%) of vacation leave payout converted to a tax-sheltered Health Care Savings Plan (HCSP). Employees with less than twenty
Health Care Savings Plan. The following supervisors shall have one hundred percent (100%) of severance pay and one hundred percent (100%) of vacation payout (limited to two hundred sixty (260) hours except in the case of death) converted to a Health Care Savings Plan (HCSP):
1) Supervisors who separate from State service with twenty (20) or more years of continuous State service and eligible to receive severance pay;
2) Supervisors retiring with less than twenty (20) years of continuous State service and eligible to receive severance pay;
3) Supervisors with twenty (20) or more years of continuous State service who are laid off. Supervisors who do not meet the criteria for the Health Care Savings Plan as outlined in Sections 11(1), 11(2) and 11(3) above or whose severance, vacation and compensatory bank liquidation total less than five hundred dollars ($500) will continue to receive such payments in cash. In all other cases in which a supervisor is eligible for severance (including death of the supervisor), severance payment shall be made in cash. Effective July 1, 2014 all supervisors shall contribute one percent (1%) of their gross earnings subject to retirement into a personal Health Care Savings Plan account with the Minnesota State Retirement System each pay period. The contribution shall occur regardless of whether or not the employee’s position is retirement eligible.
Health Care Savings Plan. The Employer agrees to provide all teachers covered by this Agreement with a State-paid contribution to the MSRS administered Health Care Savings Plan (HCSP). The State-paid contribution shall be in the amount of four hundred dollars ($400) to the HCSP account for each teacher covered by this Agreement in January of each fiscal year of the Agreement. The Plan allows teachers to use money to pay medical expenses and/or health insurance premiums after separation or retirement from State service.
