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12
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2023
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091923 SPECIAL
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9/13/2023 2:20:27 PM
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9/13/2023 2:19:33 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
9/19/2023
DESTRUCT DATE
15Y
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Employees who service retire prior to the completion of twenty years of full-time service shall <br /> receive four percent(4%) for each year of service of the single plan rate for the lowest cost <br /> HMO. <br /> Employees who retire after the completion of twenty (20)years of full-time service will receive <br /> four percent (4%) for each year of service of the two-party rate for the lowest cost HMO. <br /> Examples: completion of 19 years = 76% of the single plan rate for the lowest cost HMO and <br /> completion of 20 years= 80% of the two-parry lowest cost HMO. Such monies may be utilized <br /> for City plans or for medical premiums for alternate plans selected by the retiree. <br /> 2. Disability Retirement <br /> For all employees who are hired after January 1, 2009 and retire with disability, the City shall <br /> pay a percentage of the monthly premium of the City's lowest cost HMO health plan coverage <br /> in accordance with the schedule set forth below: <br /> Years of Service City's Contribution <br /> 10 20% <br /> 11 25% <br /> 12 30% <br /> 13 35% <br /> 14 40% <br /> 15 45% <br /> 16 48% <br /> 17 51% <br /> 18 54% <br /> 19 57% <br /> 20 80% <br /> 21 84% <br /> 22 88% <br /> 23 92% <br /> 24 96% <br /> 25 +years of service 100% <br /> Employees who leave City service prior to the completion of twenty years of full-time service <br /> shall receive the above listed percentage of the single plan rate for the lowest cost HMO. <br /> Employees who retire after the completion of twenty(20)years of full-time service will receive <br /> the above-listed percentage of the two-party rate for the lowest cost HMO. <br /> Examples: completion of 19 years= 57% of the single plan rate for the lowest cost HMO and <br /> completion of 20 years=80% of the two-party rate for the lowest cost HMO. <br /> H. Vestin!Schedule for Employees Hired On or After January 1, 2012 <br /> 1. Service Retirement <br /> For all employees who are hired on or after January 1, 2012 and retire from service, the <br /> City shall provide the following benefit: <br /> 19 <br />
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