Retiree Health Savings Account. (RHSA)
a. New hires
(1) After six (6) months of service, new hires shall make contributions at the annual rate of $375 ($14.42 gross per bi-weekly payroll) for six (6) months during which time the City shall make contributions at the annual rate of $750, payable in bi-weekly pay period increments (i.e. $28.85 gross per payroll).
(2) For the next one (1) year of service, the employee shall make contributions at the annual rate of $750 ($28.85 gross per bi-weekly payroll) during which time the City shall make contributions at the annual rate of $1,500 payable in bi-weekly pay period increments (i.e. $57.69 gross per payroll).
(3) For all years thereafter, the employee shall make contributions at the annual rate of $1,000 ($38.46 gross per bi-weekly payroll) during which time the City shall make contributions at the annual rate of $1,750, payable in bi-weekly pay period increments (i.e. $67.30 gross per payroll). Employees hired on or after March 24, 2009, shall vest in the City funded portion of defined contribution retiree health care system upon meeting the vesting requirements for the City’s defined benefit pension system. If employees hired on or after March 24, 2009, separate from City employment prior to vesting in the City pension system, they will only be entitled to receive employee contributions and investment earnings on those employee contributions from their defined contribution retiree health care savings account. The administrator of the retiree health savings plan was selected by the City after consultation with the GREIU.
Retiree Health Savings Account. As soon as practical after ratification by the BEAMOD and approval by the City Council, the City shall set up a VantageCare retiree health savings account with ICMA (or other mutually agreeable retiree health savings account) for all employees in the bargaining unit hired on or after July 1, 2012. The account shall be solely for these qualified members of the bargaining unit and shall allow for employer and employee contributions to the plan. The City shall contribute fifty dollars ($50) per pay period on behalf of each qualified employee to the plan. City contributions shall immediately vest to the qualified employee. The City shall pay the accounting fee as charged by the plan. Employees may withdraw from the plan upon separation from City employment.
Retiree Health Savings Account. Effective October 1, 2010, a retiring member's sick leave balance determined by sick leave payoff formula at time of retirement shall be deposited into a trust fund for health expenses.
Retiree Health Savings Account. (RHSA)
A. After six months of service, new hires shall make contributions at the annual rate of $375 ($14.42 gross per bi-weekly payroll) for six months during which time the City shall make contributions at the annual rate of $750, payable in bi-weekly pay period increments (i.e. $28.85 gross per payroll).
B. For the next year of service, the employee shall make contributions at the annual rate of $750 ($28.85 gross per bi-weekly payroll) during which time the City shall make contributions at the annual rate of $1,500, payable in bi-weekly pay period increments (i.e. $57.69 gross per payroll).
C. For all years thereafter the employee shall make contributions at the annual rate of $1,000 ($38.46 gross per bi-weekly payroll) during which time the City shall make contributions at the annual rate of $1,750, payable in bi-weekly pay period increments (i.e. $67.30 gross per payroll).
D. If employees hired on or after May 12, 2009 separate from City employment prior to achieving ten (10) years of service in the City's defined benefit pension system, they will only be entitled to receive the employee contributions and investment earnings on those employee contributions from their defined contribution retiree health care saving.
Retiree Health Savings Account. A. During the term of the MOU, both parties agree to meet and confer regarding alternatives to the City’s contribution to the Health Reimbursement Account for Retirees hired after July 1, 2014. The City and Association will explore a Retiree Health Savings Account (RHSA) plan compliant with IRS rules and regulations.
B. The City shall pay the minimum monthly employer contribution as determined by XxxXXXX and required under Public Employees Medical and Hospital Care Act (PEMHCA) on behalf of each qualifying annuitant.
Retiree Health Savings Account. The City shall provide unit members with a retiree health savings plan which the City shall fund at the rate of seventy-five dollars ($75) per month per member.
Retiree Health Savings Account. The Town shall contract with ICMA VantageCare to provide a vehicle for retiree medical. Employees shall contribute twenty-five dollars ($25.00) per pay period into their ICMA VantageCare account.
Retiree Health Savings Account. Sworn, non-management fire employees will be required to contribute two percent (2%) of the top step salary for Firefighter/Paramedic per payroll period to the employee’s retiree health savings account. Contributions to the retiree health savings are made solely by the employee and all administrative fees for the plan will be deducted from each employee’s individual account assets. The account assets that accumulate, plus investment earnings, will be used in retirement to pay health insurance premiums and other eligible out-of-pocket medical expenses such as deductibles, co-payments and dental care in accordance with Internal Revenue Code Section 213. The employee contribution will be portable if an employee should leave employment with the City of Fountain Valley prior to retirement.
Retiree Health Savings Account. As soon as practical after ratification by the BSPEA and approval by the City Council, the City shall set up a VantageCare retiree health savings account with ICMA (or other mutually agreeable retiree health savings account) for all employees in the bargaining unit hired on or after July 1, 2012. The account shall be solely for these qualified members of the bargaining unit and shall allow for employer and employee contributions to the plan. The City shall contribute fifty dollars ($50) per pay period on behalf of each qualified employee to the plan. For employees hired after October 1, 2010 and before July 1, 2012, the City shall contribute twenty five dollars ($25) per pay period on behalf of each qualified employee. City contributions shall immediately vest to the qualified employee. The City shall pay the accounting fee as charged by the plan. Employees may withdraw from the plan upon separation from City employment.
Retiree Health Savings Account. During the term of the MOU, both parties agree to meet and confer over retiree health benefits, and to determine other options addressing the provisions of the Monthly Supplemental Allowance for Retirees. The City and AIE will explore a Retiree Health Savings Account (RHSA) plan compliant with IRS rules and regulations.
