Retiree Health Care Fund. The County shall establish a separate fund called the "Retiree Health Care Fund." The County shall annually budget sufficient funds to contribute to the Retiree Health Care fund, based upon the actuarially determined amount to be reserved for the future cost of retiree health care premiums. Effective the first payroll in July 2013 all employees in this bargaining unit who are eligible to participate in the Retiree Health Care Plan, shall contribute 3.0% of their bi-weekly base pay to the Retiree Health Care Fund. Such monies shall be deposited into the "Retiree Health Care Fund" to fund future health care benefits for the retiree, spouse and *eligible dependents. If the employee quits or leaves employment for any reason prior to becoming eligible for retirement benefits and/or retiree health care benefits, the employee shall be refunded the amount the employee has contributed to the Retiree Health Care Fund, along with the accumulated interest thereon as determined by the County.
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