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Employees who retire after the completion of twenty (20) years of full-time service will receive the above listed percentage of the two-party rate for the lowest cost HMO. Examples: completion of 19 years = 57% of the single plan rate for the lowest cost HMO and completion of 20 years =80% of the two-party rate for the lowest cost HMO. H. Vesting Schedule for Employees Hired On or After January 1, 2012 1. Service Retirement For all employees who are hired on or after January 1, 2012 and retire from service, the City shall provide the following benefit: Commencing upon the date of hire, the employee will be credited with four percent(4%) for each year of service of the single plan rate for the lowest cost HMO. Upon reaching Medicare eligibility age, the City's contribution toward the medical premium shall cease. 2. Disability Retirement For all employees who are hired on or after January 1, 2012 and retire with disability, the City shall pay a percentage of the monthly premium of the single plan rate for the lowest cost HMO health plan coverage in accordance with the schedule set forth below until eligible for Medicare, at which time the contribution toward the medical premium shall cease: Years of Service City's Contribution 10 20% 11 25% 12 30% 13 35% 14 40% 15 45% 16 48% 17 51% 18 54% 19 57% 20 80% 21 84% 22 88% 23 92% 24 96% 25 +years of service 100% 3. Retiree Health Savings Account The Association and the City will meet within ninety (90) days after adoption of this agreement to review and select a Retiree Health Savings Plan (RHSA). The two plans to be reviewed are the PORAC plan and a plan offered through ICMA. For employees hired after on or January 1, 2012 and who have successfully passed probation, the City will contribute twenty-five dollars ($25) per pay period to the RHSA. Additionally, each employee eligible for the City contribution will have twenty-five dollars ($25) per pay period deducted pre-tax as an additional employee contribution toward the RHSA. The total pay period contribution to the RHSA will be fifty dollars ($50). 18