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 employee’s savings for their post-employment health care needs. Begin discussion in July 2021 and both parties will make reasonable effort to move this to implementation.
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:
a. For employees who complete the City’s annual health risk assessment, the City shall contribute 0.4% of base wages.
b. For employees who participate in at least one of the approved health screenings, the City shall contribute 0.3% of base wages.
c. For employees who pledge to participate at least quarterly in other wellness program initiatives as approved by the City (consultations, speaker programs, support groups, etc.), the City shall contribute 0.3% of base wages. These City contributions shall also be subject to a vesting schedule of twenty-five percent (25%) per year of continuous regular City service until the employee is fully vested. Current employees shall receive credit for regular City service from their most recent date of hire to include service already completed prior to the effective date of this Agreement.
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. 5.1. The Retirement Health Savings Plan (RHSP) is an employer-sponsored health benefit savings program that allows employees to contribute and accumulate assets to pay for medical premiums and allowable health expenses at retirement (or upon meeting eligibility criteria) on a tax-free basis. This plan is not currently in effect. Once employees’ agree to a mandatory contribution amount, it is the City’s intent to implement. The RHSP has the following components:
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): 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. 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.
36.6.2 Full-time employees shall be enrolled in the City’s Retirement Health Savings plan.
36.6.2.1 The City shall contribute one percent (1.0%) of each employee’s gross pay to the applicable employee’s individual member account. Effective the pay period that includes January 7, 2022, the City’s contribution shall increase to a total of two percent (2.0%) of the employee’s base pay to the applicable individual member account.
36.6.2.2 The employee shall contribute one percent (1%) of his/her gross pay to the employee’s individual member account.
36.6.3 There are no vesting requirements for contributions made to an employee’s individual member 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): 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.
Retirement Health Savings Plan. During the term of this Agreement, the Village will implement an IRS Section 115 Retirement Health Savings Plan which may include non-bargaining unit members. Employees will be able to elect to contribute to the plan on a pre-tax basis in accordance with applicable legal requirements. Within 12 months of the execution of this Agreement the parties will review plan options presented by the union and then select a plan for implementation. Other than the costs to establish the plan, the Village shall have no financial obligation for sponsoring the plan with all contributions to be by the employees.
Retirement Health Savings Plan. Effective August 1, 2008, the Employer agrees to provide an I.R.S. qualifying health savings plan that allows employees to save for retiree medical expenses with pre-tax dollars. The Employer agrees to match a maximum of one-half percent (½%) of an employee’s gross salary provided an employee contributes a minimum of one-half percent (½%) of an employee’s gross salary to the plan. Employees can individually choose investment options offered through this program. All employees are required to enroll in accordance with I.R.S. regulations covering such plans. Effective for new employees hired after July 1, 2009, there will be no Retiree Health Insurance coverage. Instead, the City will make a 2.0% contribution into an I.R.S. qualifying health savings plan, matched by an employee share of one-half percent 0.5%. All employees are required to enroll in accordance with IRS regulations covering such plans.
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):
