OPEB – Other Post-Employment Benefits. The District has instituted an OPEB defined benefit post-employment health care plan. Members will contribute two percent (2%) of their after-tax base salary to the OPEB Medical Trust. The District will contribute to the Trust the Actuarially Determined Contribution, less the amounts credited for benefits paid to existing retirees from District assets and the amount paid by Members, up to but not in excess of five hundred thousand dollars ($500,000). Any monies contributed by the Members will not be refunded. Both the District and the Management Association agree to meet and confer on the funding level necessary to fully fund the Trust.
OPEB – Other Post-Employment Benefits. I. Retirees who retired before April 1, 1995 The current Pre and Post Medicare group plan medical and prescription drug coverage will remain in place for retirees who retired before April 1, 1995, maintaining current cost sharing premium arrangements. Pre-Medicare retirees and eligible dependents will maintain the same medical PPO and prescription drug plan as active employees with the present premium cost sharing arrangement. Post-Medicare retirees and eligible dependents will maintain the present medical plans, Retiree Medical Expense and Supplement Plans and beginning in 2015, retiree contribution increases will not exceed 5% each year. The $1750 pension compensation cap remains in effect.
OPEB – Other Post-Employment Benefits. The City agrees that they will place these monies in a restricted account toward post retirement benefits. Effective July 1, 2018 all members shall pay a sum of seventeen dollars and thirty-one ($17.31) cents bi-weekly for a total of four hundred and fifty ($450.00) dollars per year toward their OPEB (Other Post Employment Benefits). The City agrees that they will place these monies in a restricted account toward post retirement benefits.
