Laserfiche WebLink
30.3 Alternative Deferred Compensation Plan <br /> The City, during the term of this agreement, shall solicit <br /> alternative deferred compensation plans to include the <br /> concepts of "flex annuities" and "split dollar life <br /> insurance." The City shall review the proposals with the <br /> Union. If feasible, the City shall implement one of the <br /> alternative: deferred compensation plans. <br /> 30.4 Cafeteria Plan <br /> The City will review and implement a cafeteria plan for <br /> health care benefits within six (6) months of the City <br /> Council approval of the new agreement. Under said plan, <br /> all employees must have "employee only" health care <br /> coverage. If under said plan the employee elects not to <br /> have dependent health care coverage, the City will pay <br /> $142.50 per month into a City sponsored deferred <br /> compensation program. The City will discuss the plan's <br /> administration with the Union prior to its implementation. <br /> Should the City fail to implement the above within six (6) <br /> months, the City will implement a modified version of the <br /> Union's plan dated June 21, 1990. <br /> - 28 - <br />