POST EMPLOYMENT HEALTH PLAN. The City shall provide a Post Employment Health Plan which allows for the accumulation of funds for the future payment of medical expenses and premiums. The amount of dollars paid into the employee=s PEHP universal account by the City on behalf of the employee shall be $30.00 per pay period. Upon retirement, death, or a reduction in force, the employee=s sick leave payout shall be added (paid) into the employee=s PEHP premium account.
POST EMPLOYMENT HEALTH PLAN. Commencing the first full pay period following May 1, 2005, and continuing thereafter, each pay period covered members shall contribute 1% of their base salary into the ICMA Post Employment Health Plan (PEHP). The City shall transfer the funds to the PEHP at no additional cost to the covered member; however service or other fees assessed directly to the covered member from the plan are paid for by the covered member through their own individual accounts.
POST EMPLOYMENT HEALTH PLAN. A. The parties to this Agreement agree to participate in the Post Employment Health Plan (PEHP) in accordance with the terms and conditions of the Plan’s Participation Agreement for each eligible employee of the Union. The PEHP Program is a Voluntary Employees’ Beneficiary Association (VEBA) Trust under Section 501(c)(9) of the Internal Revenue Code, and shall be administered by Nationwide Retirement Solutions and will define who is eligible to participate in the plan.
B. Each eligible employee will contribute $20.00 (twenty dollars) pre-tax from each pay check to their VEBA account.
C. Upon separation of employment, including for retirement, the Employer shall contribute the value of 100% of any eligible employee’s unused vacation leave and holiday accruals and the applicable percentage of unused sick leave accruals in accordance with Article 12 into the employee’s VEBA account.
D. Employees who are already eligible for fully paid family retiree medical benefits shall not be eligible for the Plan.
E. The Nationwide PEHP is governed by an Advisory Committee comprised of one employer representative and one employee representative. The City and Union will choose their own representative. Either representative may be unilaterally withdrawn, by their sponsoring party, at any time in the future. The other side must be notified in writing of the withdrawal and replacement representative.
POST EMPLOYMENT HEALTH PLAN. A. By January, 2008, the Town shall establish a post-retirement health insurance trust fund and plan in conformance with recently established Government Accounting Standard Board Principle # 45. The town shall obtain an actuarial analysis annually which shall determine both overall pension and post-retirement health benefit liabilities for the members and retirees eligible for Police and Fire Retirement plans. So long as Police and Fire Retirement Pension fund assets remain at least 120% above the actuarial level of funding required for all such pension liabilities, the actuarial analysis shall also determine whether employee contributions for each subsequent fiscal year are necessary to keep plan assets at or above such a 120% level of funding. Commencing with the July 1, 2007 fiscal year, in any fiscal year that actuarial projections demonstrate that a 120% or above over-funded basis will remain even if reduced firefighter member contributions are made to such pension plan at a level less than the contractually required 4.5% contribution of salary, such firefighter member contributions shall only be made to the pension plan from payroll for that portion of the fiscal year required for such contributions to sustain the 120% over-funded basis. For any such year, the balance of such member s 4.5% payroll deductions for such fiscal year shall be deposited directly into the town s post-retirement health insurance trust fund. Should the amount of pay required to be contributed to the pension plan within this agreement change by mutual consent, the terms above shall reflect any such new per cent.
B. Effective July 27, 2015, all covered members of the unit shall contribute 2.5% of member basic annual salary including longevity pay as set forth in Appendix A of this agreement to the post-retirement health trust fund. Effective July 1, 2016, all covered employee members of the unit shall contribute 3.25% of member basic annual salary including longevity pay as set forth in Appendix A of this agreement to the post- retirement health trust fund. These contributions are in lieu of cost-share upon retirement. When the fire unit s OPEB actuary funding level reaches 80%, employee contribution will return to 1.5%. Effective July 1, 2008, the town will contribute at least 2% of all member salaries per annum to the post- retirement health insurance trust fund. Effective July 1, 2009, the town s contribution shall increase to at least 4% of such payroll. Effective at the cl...
POST EMPLOYMENT HEALTH PLAN. (a) The City agrees to participate in the Post Employment Health Plan (PEHP), Health Care Insurance Premium Sub-account, for Collectively Bargained Public Employees (Plan) in accordance with the terms and conditions of the Plan’s Participation Agreement, a copy of which has been provided to the City. The Plan Administrator for the Plan shall be mutually agreed upon by the City and the Union and the City agrees to contribute to the Plan as set forth in this Article.
(b) Except as provided in subsection (c), upon termination of employment for any reason (which does not include death), one-hundred percent (100%) of the eligible fire fighter’s accumulated sick leave and accrued but unpaid vacation that would have otherwise been paid to the eligible fire fighter had the City not participated in the Plan shall be contributed to the Participant’s Health Care Insurance Premium Reimbursement Sub-account. Those fire fighters who separated from service prior to January 12, 2005 shall not be subject to the Plan. This subsection (b) is further subject to the following restrictions:
(1) The City shall deduct any overpayments to the fire fighter or other legal offsets due to the City from the fire fighter prior to making the contribution to the Participant’s Health Care Insurance Premium Reimbursement Sub-account; however, before overpayment deductions and other legal offsets are made from accumulated sick leave and accrued but unpaid vacation, the City will first make the deductions and offsets from other compensable absences of the fire fighter, if any, and then any remaining balance shall be deducted and offset from the accumulated sick leave and accrued but unpaid vacation.
(c) Fire fighters who are eligible for fully paid family retiree medical benefits through TRICARE or by their status as a Native American through the Bureau of Indian Affairs medical benefit programs shall not be eligible for or subject to the contribution amount set forth in Section 2(b).
POST EMPLOYMENT HEALTH PLAN. The Town of Normal agrees to cooperate in establishing a Public Safety Retirement Health Savings Plan for all employees covered by this Agreement effective March 1, 2008. Contributions to individual employee Public Safety Retirement Health Savings accounts shall be made in accordance with the terms of the Agreement and as authorized by the Internal Revenue Code. The parties agree to mutually select the ICMA-RC Public Safety Retirement Health Savings Plan as the Public Safety Retirement Health Savings Plan. Such plan and trust documents shall be mutually acceptable to the parties. In the event the parties are unable to agree on the Plan and trust documents the matter will be submitted to interest arbitration. Effective October 1, 2011, the Town is authorized and shall deduct 1% of each firefighter’s annual salary and pay such amount as a contribution on behalf of the employee in the employee’s Public Safety Retirement Health Savings account. Payment shall be made on a biweekly basis from each paycheck by dividing the annual contribution amount by 26 pay periods.
POST EMPLOYMENT HEALTH PLAN. The County shall provide a Post Employment Health Plan which allows for the accumulation of funds for the future payment of medical expenses and premiums. The amount of dollars paid into the employee's PEHP account by the County on behalf of the employee shall be
POST EMPLOYMENT HEALTH PLAN. Effective July 1, 2006, the City and each eligible employee will both contribute, on a non-elective basis, $15.00 per month to Nationwide Retirement Solutions for the Post Employment Health Plan (PEHP) to assist employees with post employment medical expenses as authorized under Internal Revenue Code § 501 (c) (9). All employees represented by the Union shall participate. There shall be no individual election by the employee.
POST EMPLOYMENT HEALTH PLAN. Police Officers shall be required to contribute $250 annually to a Post Employment Health Plan (PEHP) or similar retirement savings plan in accordance with the terms and conditions of the plan’s participation agreement. The City agrees to deduct $9.62 from the biweekly paycheck of each Police Officer. The Association agrees that the City will not be responsible for administrative or other fees or costs associated with administration of the plan.
POST EMPLOYMENT HEALTH PLAN. The City agrees to establish a Post Employment Health Plan (PEHP) in accordance with applicable sections of the Internal Revenue Service Code, for accrued sick leave conversion (130 maximum) at the time of retirement. The City agrees to pay the administration fee. In addition, employees will be required to “convert” unused vacation time (upon retirement) into their individual PEHP account.
