Common use of Tier 2 Retiree Medical Savings Plan Clause in Contracts

Tier 2 Retiree Medical Savings Plan. 1. For Tier 2 employees, the City shall contribute $750 per month (pre-tax) to a Retiree Medical Savings Plan (specifics to be determined at a later date) for the purpose of providing a savings plan for each employee to purchase medical insurance upon retirement. The City agrees that at no time will the contribution, toward the Retiree Medical Savings Plan for Tier 2 employees, drop below the contribution that was in effect July 1, 2012. 2. The $750 monthly payment shall be made while the employee is in active status and will be paid over 24 pay periods (excluding “free” pay periods) per year. To be eligible to receive the payment in any particular pay period, the employee must code at least 15 hours of paid time in the pay period. Paid time includes regular time and all types of paid leave, including 4850 time, sick, vacation, compensatory time, holiday, bereavement, jury duty, personal, military, catastrophic and administrative leave. Paid time excludes disability payments (including Total Temporary Disability, Short-Term and Long-Term Disability) and periodic special pays such as uniform allowance. 3. The administration of the Retiree Medical Savings Plan will be decided upon and agreed to in a separate agreement. If the Association administers the Retiree Medical Savings Plan, the Association and its employees shall enter into an agreement with the City that releases the City from liability and indemnifies the City from any claims resulting from the administration of the Retiree Medical Savings Plan.

Tier 2 Retiree Medical Savings Plan. 1. For Tier 2 employees, the City shall contribute $750 per month (pre-tax) to a Retiree Medical Savings Plan (specifics to be determined at a later date) for the purpose of providing a savings plan for each employee to purchase medical insurance upon retirement. The City agrees that at no time will the contribution, toward the Retiree Medical Savings Plan for Tier 2 employees, drop below the contribution that was in effect July 1, 2012. 2. The $750 monthly payment shall be made while the employee is in active status and will be paid over 24 pay periods (excluding “free” pay periods) per year. To be eligible to receive the payment in any particular pay period, the employee must code at least 15 hours of paid time in the pay period. Paid time includes regular time and all types of paid leave, including 4850 time, sick, vacation, compensatory time, holiday, bereavement, jury duty, personal, military, catastrophic and administrative leave. Paid time excludes disability payments (including Total Temporary Disability, Short-Short- Term and Long-Term Disability) and periodic special pays such as uniform allowance. 3. The administration of the Retiree Medical Savings Plan will be decided upon and agreed to in a separate agreement. If the Association administers the Retiree Medical Savings Plan, the Association and its employees shall enter into an agreement with the City that releases the City from liability and indemnifies the City from any claims resulting from the administration of the Retiree Medical Savings Plan.

Tier 2 Retiree Medical Savings Plan. 1. For Tier 2 employees, the City shall contribute $750 per month (pre-tax) to a Retiree Medical Savings Plan (specifics to be determined at a later date) for the purpose of providing a savings plan for each employee to purchase medical insurance upon retirement. The City agrees that at no time will the contribution, toward the Retiree Medical Savings Plan for Tier 2 employees, drop below the contribution that was in effect July 1, 2012. 2. The $750 monthly payment shall be made while the employee is in active status and will be paid over 24 pay periods (excluding “free” pay periods) per year. To be eligible to receive the payment in any particular pay period, the employee must code at least 15 hours of paid time in the pay period. Paid time includes regular time and all types of paid leave, including 4850 time, sick, vacationannual leave, compensatory time, holiday, bereavement, jury duty, personal, military, catastrophic and administrative leave. Paid time excludes disability payments (including Total Temporary Disability, Short-Term and Long-Term Disability) and periodic special pays such as uniform allowance. 3. The administration of the Retiree Medical Savings Plan will be decided upon and agreed to in a separate agreement. If the Association administers the Retiree Medical Savings Plan, the Association and its employees shall enter into an agreement with the City that releases the City from liability and indemnifies the City from any claims resulting from the administration of the Retiree Medical Savings Plan.

Tier 2 Retiree Medical Savings Plan. 1. For Tier 2 employees, the City shall contribute $750 per month (pre-tax) to a Retiree Medical Savings Plan (specifics to be determined at a later date) for the purpose of providing a savings plan for each employee to purchase medical insurance upon retirement. The City agrees that at no time will the contribution, contribution toward the Retiree Medical Savings Plan for Tier 2 employees, employees drop below the contribution that was in effect July 1, 2012. 2. The $750 monthly payment shall be made while the employee is in active status and will be paid over 24 pay periods (excluding “free” pay periods) per year. To be eligible to receive the payment in any particular pay period, the employee must code at least 15 hours of paid time in the pay period. Paid time includes regular time and all types of paid leave, including 4850 time, sick, vacationannual leave, compensatory time, holiday, bereavement, jury duty, parental, personal, military, catastrophic and administrative leave. Paid time excludes disability payments (including Total Temporary Disability, Short-Term and Long-Term Disability) and periodic special pays such as uniform allowance. 3. The administration of the Retiree Medical Savings Plan will be decided upon and agreed to in a separate agreement. If the Association administers the Retiree Medical Savings Plan, the Association and its employees shall enter into an agreement with the City that releases the City from liability and indemnifies the City from any claims resulting from the administration of the Retiree Medical Savings Plan.