Common use of RETIREE HEALTH SAVINGS PLAN Clause in Contracts

RETIREE HEALTH SAVINGS PLAN. Pursuant to Resolution 2009-38 the City shall make available to all represented employees a retiree health savings plan (RHSP) administered by MissionSquare. The City’s role in the HRS Plan is limited to making payroll deductions from the employee’s payroll earnings and transmitting contributions to MissionSquare. The City will not have any fund safekeeping responsibilities. Plan design, eligibility, participation, and funding for the RHS Plan are wholly the responsibility of the LAPOA. Currently post-probationary employees contribute $50.00 pre-tax from their payroll earnings per pay period. Effective July1, 2023, the City will contribute to each employee’s RHSP account an amount based on continuous years of service at the City as follows: Years of Service Pay Period Contribution 5-10 $50.00 10+ $75.00 For probationary employees, the City’s contribution will vest upon successful completion of probation.

RETIREE HEALTH SAVINGS PLAN. ‌ Pursuant to Resolution 2009-38 the City shall make available to all represented employees a retiree health savings plan (RHSP) administered by MissionSquare. The City’s role in the HRS Plan is limited to making payroll deductions from the employee’s payroll earnings and transmitting contributions to MissionSquare. The City will not have any fund safekeeping responsibilities. Plan design, eligibility, participation, and funding for the RHS Plan are wholly the responsibility of the LAPOA. Currently post-probationary employees contribute $50.00 pre-tax from their payroll earnings per pay period. Effective July1, 2023, the City will contribute to each employee’s RHSP account an amount based on continuous years of service at the City as follows: Years of Service Pay Period Contribution 5-10 $50.00 10+ $75.00 For probationary employees, the City’s contribution will vest upon successful completion of probation.

RETIREE HEALTH SAVINGS PLAN. Pursuant to Resolution 2009-38 the tThe City shall make available to all represented employees a retiree health savings plan (RHSP) administered by MissionSquareMissionSquareICMA-RC. The City’s role in the HRS Plan is limited to making payroll deductions from the employee’s payroll earnings and transmitting contributions to MissionSquare. The City will not have any fund safekeeping responsibilities. Plan design, eligibility, participation, and funding for the RHS Plan are wholly the responsibility of the LAPOA. Currently post-probationary employees contribute $50.00 pre-tax from their payroll earnings per pay period. Effective July1JulyJanuary 1, 2023202322, the City will contribute to each employee’s RHSP account an amount based on continuous years of service at the City as follows: Years of Service Pay Period Contribution 5-10 $50.00 5035.00 10+ $75.00 7545.00 For probationary employees, the City’s contribution will vest upon successful completion of probation.