RES 90167 - Laserfiche WebLink

dismemberment insurance coverage. The monthly premium for life insurance coverage shall be paid by the City. Employee may also participate in the City's supplemental life insurance program at their expense. 17.5 Long -Term Disability Effective July 1, 1988 the City's provision of long term disability insurance coverage to employees under the Canada Life Plan shall terminate and the City shall have no further responsibility to provide long term disability benefits except as provided below. Effective September 1, 1990, the City shall pay to the Union the sum of fifteen dollars ($15.00) as the monthly premium of each employee enrolled in the union's long term disability plan. Said payments shall be made in arrears monthly. Should the monthly premium of the Union's long term disability plan drop below fifteen dollars per month, the dollar difference shall be added one time to the rate of pay set forth in Section 5.1 of this agreement. 17.6 Extended Benefits The City will consider voluntary proposals from the Union's membership to utilize their benefits to extend the benefits of an individual on protracted medical leave. Section 18. Retirement 18.1 Retirement Plan The City shall continue to provide the PERS 2% at 50 retirement plan to include the present 1959 Survivors and One Year Highest compensation options at the City's expense. 18.2 Payment of Employee's Contribution Effective July 1, 1988, the City shall pay the employee's contribution to the Public Employees' Retirement System (PERS). The amount of said City payment shall equal but not exceed nine percent (9.0 %) of the employee's compensation subject to retirement contributions. 18.3 Conversion of City Payment of Employee's Contribution Each employee may once during the term of his /her employment convert the payment by the City of his /her nine percent (9.0 %) PERS contribution to a nine percent (9 %) salary increase. Said percentage increase shall be applied to the employee's base monthly salary as set forth - 18 -