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.
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. (RHSA) Employees hired on or after May 12, 2009, shall be provided with a Retiree Health Savings Account (RHSA) in lieu of the current retiree health care benefits with a stepped-in employee and employer contribution as follows:
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. 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. The City maintains a VantageCare retiree health savings account with MissionSquare Retirement (or other mutually agreeable retiree health savings account) for all employees in the bargaining unit hired on or after July 1, 2012. 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 consistent with the terms of the plan.
Retiree Health Savings Account. For employees hired on or after July 1, 2012 and who have successfully passed probation the City will contribute seventy-five dollars ($75) per month to the employee’s RHSA. Additionally, each employee eligible for the City contribution will have a mandatory, pre-tax deduction of twenty-five dollars ($25) per month toward the RHSA. The total monthly contribution to the RHSA will be one hundred dollars ($100). However, those employees contributing to the RHSA may increase the mandatory employee contribution above twenty-five dollars ($25) if a fixed amount is agreed to by, and implemented for, all contributing employees.
Retiree Health Savings Account. For employees hired on or after July 1, 2012 and who have successfully passed probation the City will contribute seventy-five dollars ($75) per month to the employee’s RHSA. Additionally, each employee eligible for the City contribution will have a mandatory, pre-tax deduction of twenty-five dollars ($25) per month toward the RHSA. The total monthly contribution to the RHSA will be one hundred dollars ($100). However, those employees contributing to the RHSA may increase the mandatory employee contribution above twenty-five dollars ($25) if a fixed amount is agreed to by, and implemented for, all contributing employees. Employees hired between July 1, 2012 and May 1, 2013: Employees hired between July 1, 2012 and May 1, 2013 will contribute $150 per month ($69.23 per pay period) through payroll deductions beginning the pay period in which the employee commenced employment with the LPFD. In the pay period following completion of the employee’s 12 or 18-month probationary period, the City will contribute a one-time payment of $900 or $1,350 (equivalent to $75 for each month of the 12 or 18-month probationary period) towards the employee’s RHSA. These provisions apply solely to employees hired between July 1, 2012 and May 1, 2013. All employees hired after May 1, 2013 will follow the provisions outlined in Section 16.2.6 unless modified by a successor MOU.
Retiree Health Savings Account. Individually Represented Battalion Chiefs 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. Provision No. 11 - Supplemental to Medicare City Contribution. Coverage will become supplemental to Medicare at age 65. The City will pay the medical premium, as applicable for the retiree and eligible qualified dependent(s) and retiree only dental premium up to the maximum the City contributes for active Individually Represented Battalion Chiefs for Tier 1 employees. At no time, will the maximum City contribution be less than the maximum City contribution at the time the employee retired from the City
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.
