Retirement Health Savings Plan. The Union and the City have agreed to explore options for implementing a tax deferred Retirement Health Savings Plan to assist employees saving for their post-employment health care needs.
Retirement Health Savings Plan. The Authority shall provide to all full‐time and part‐time regular employees covered by the Agreement a Retirement Health Savings (RHS) Plan as selected by the Authority. The RHS Plan is a medical expense reimbursement program that accumulates assets to pay for medical expenses in retirement on a tax‐free basis.
Retirement Health Savings Plan. Effective July 1, 2010, employees who 8 are not eligible for retirement medical benefits in accordance with Section 14.7 and who 9 were hired after July 2, 2005, shall be eligible to receive Retirement Health Savings Plan 10 (RHSP) benefits. The County shall make monthly deposits in the RHSP for each eligible 11 employee according to the following schedule based on years of completed continuous 12 services (starting with the beginning of the 4th year of service): Years of Service Pay Period Payments Yearly Payments 4 to 5 $21 $504 6 to 10 $42 $1,008 11 to 15 $63 $1,512 16 to 19 $84 $2,016 20 plus $105 $2,520 15 For initial implementation of this benefit, Xxxxxx County Human Resources will provide 16 informational meetings and enroll eligible nurses in June 2010. During this same period, 17 nurses grandfathered under section 14.7 will have a one time opportunity to elect the 18 Retirement Health Savings Plan benefit in lieu of the Retirement Health and Dental 19 Insurance described in 14.7. 21 After the initial implementation of this benefit, newly eligible employees will be enrolled 22 upon completion of the years of service requirement. Should an eligible employee fail to 23 complete the enrollment paperwork for the RHSP benefit the County shall invest payments 24 on his or her behalf in the Money Market Fund. The employee may change the portfolio 25 investments in accordance with the provider’s policies. 27
Retirement Health Savings Plan. Employees who participate in the above bona fide Wellness Program are eligible for a City paid incentive up to 1% of base salary paid by the City into a retirement health savings account for the employee. This contribution shall begin for the payroll following thirty (30) days after qualifying for the incentive. Employees must qualify by November 30th of each year for participation in the following calendar year (beginning with the December 16 - January 15 payroll). Participation shall be as follows:
Retirement Health Savings Plan. 36.6.1 The City established the Retirement Health Savings plan to provide for reimbursement of eligible medical expenses as defined by the Retirement Health Savings plan document.
Retirement Health Savings Plan. As a component to the 403(b) retirement savings plan, referenced in c. above, the CCSNH will maintain a retirement health savings account that shall include CCSNH (employer) contributions set at 1% of gross wages. The Association acknowledges that the retirement health savings plan provider shall be chosen by CCSNH and such plan participation will be subject to the provisions of the plan.
Retirement Health Savings Plan. Effective July 1, 2010, employees who are not eligible for retirement medical benefits in accordance with Section 14.7 and who were hired after July 2, 2005, shall be eligible to receive Retirement Health Savings Plan (RHSP) benefits. The County shall make monthly deposits in the RHSP for each eligible employee according to the following schedule based on years of completed continuous services (starting with the beginning of the 4th year of service): Years of Service Pay Period Payments Yearly Payments 4 to 5 $21 $504 6 to 10 $42 $1,008 11 to 15 $63 $1,512 16 to 19 $84 $2,016 20 plus $105 $2,520 For initial implementation of this benefit, Xxxxxx County Human Resources will provide informational meetings and enroll eligible nurses in June 2010. During this same period, nurses grandfathered under section 14.7 will have a one-time opportunity to elect the Retirement Health Savings Plan benefit in lieu of the Retirement Health and Dental Insurance described in 14.7. After the initial implementation of this benefit, newly eligible employees will be enrolled upon completion of the years of service requirement. Should an eligible employee fail to complete the enrollment paperwork for the RHSP benefit the County shall invest payments on their behalf in the Money Market Fund. The employee may change the portfolio investments in accordance with the provider’s policies.
Retirement Health Savings Plan. A Retirement Health Savings (RHS) Plan is available for employee contributions in accordance with IRS regulations. Employees covered under this bargaining group have elected to establish and contribute to this plan; contributions are as follows: All employees covered by this agreement will contribute 1% of base earnings each pay period, City will contribute $25 per month beginning July 1, 2019, contributed on a 24-pay period cycle. City will contribute an additional $25 per month, for a total of $50 per month, beginning July 1, 2021, contributed on a 24-pay period cycle. This additional monthly contribution of $25 will cease when this MOU expires on June 30, 2023. If benefit is not renewed or extended at that time, the City will revert to contributing a total of $25 per month towards the employee’s RHS plan. Upon separation from the City, a 100% cash out of all qualifying, verified accrued sick leave at time of retirement, or a proportion of accrued leave at time of non-retirement separation, will be placed in the employees’ Retirement Health Savings Plan. Refer to Sick Leave Buy Back policy for eligible sick leave.
Retirement Health Savings Plan. Employees shall be automatically enrolled in a Retirement Health Savings (RHS) Plan effective 7/1/2017 and upon promotion to a position within this bargaining unit thereafter. Employees are required to contribute 0.75% of earnings to the plan. Contributions to the RHS will be made on a pre-tax basis as allowable under IRS regulations. Effective July 1, 2023, the Employer shall contribute $55.00 per regular pay period to each Employee’s RHS account. Effective July 1, 2024, the Employer shall contribute $60.00 per regular pay period to each Employee’s RHS account.
Retirement Health Savings Plan. 8 Effective July 1, 2010, employees who are not eligible for retirement medical 9 benefits in accordance with Section 14.7 and who were hired after July 2, 10 2005, shall be eligible to receive Retirement Health Savings Plan (RHSP) 11 benefits. The County shall make monthly deposits in the RHSP for each 12 eligible employee according to the following schedule based on years of 13 completed continuous services (starting with the beginning of the 4th year of 14 service): Years of Service Pay Period Payments Yearly Payments 4 to 5 $21 $504 6 to 10 $42 $1,008 11 to 15 $63 $1,512 16 to 19 $84 $2,016 20 plus $105 $2,520 15 For initial implementation of this benefit, Xxxxxx County Human Resources 16 will provide informational meetings and enroll eligible nurses in June 2010.
