RES 19-1059 - Laserfiche WebLink

6. Retiree Health Savings Account For employees hired on or after July 1,2012 and who have successfully passed probation the City will contribute seventy-five dollars ($75)per month to the employee's RHSA. Additionally, each employee eligible for the City contribution will have a mandatory, pre-tax deduction of twenty-five dollars ($25)per month toward the RHSA. The total monthly contribution to the RHSA will be one hundred dollars ($100). However, those employees contributing to the RHSA may increase the mandatory employee contribution above twenty-five dollars($25) if a fixed amount is agreed to by, and implemented for, all contributing employees. Employees hired between July 1,2012 and May 1,2013: Employees hired between July 1, 2012 and May 1, 2013 will contribute $150 per month($69.23 per pay period)through payroll deductions beginning the pay period in which the employee commenced employment with the LPFD. In the pay period following completion of the employee's 12 or 18-month probationary period, the City will contribute a one-time payment of$900 or$1,350 (equivalent to $75 for each month of the 12 or 18-month probationary period)towards the employee's RHSA. These provisions apply solely to employees hired between July 1, 2012 and May 1, 2013. All employees hired after May 1, 2013 will follow the provisions outlined in Section 16.2.6 unless modified by a successor MOU. Effective January 1,2015: For employees hired on or after July 1, 2014 and who have successfully passed probation,the City will contribute one-hundred and fifty ($150) per month to the employee's RHSA. In the pay period following completion of the employee's 12 or 18-month probationary period, the City will contribute a one-time payment of$1,800 or$2,700 (equivalent to $150 for each month of the 12 or 18-month probationary period)towards the employee's RHSA. For the duration of the contract, each employee eligible for the City contribution will have a pre- tax deduction of one hundred and fifty dollars ($150)per month toward the RHSA. The total monthly contribution to the RHSA will be three hundred($300). However,those employees contributing to the RHSA may increase the employee contribution above one hundred and fifty dollars ($150) if a fixed amount is agreed to by, and implemented for, all contributing employees. Employees have a vested right to the funds at the time of deposit. Funds deposited in the RHSA are portable and belong to the employee, regardless of length of service or reason for separation. 27