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P51 <br />5.10 Post Employment Health Care Saving Account <br />The City has established a Post Employment Health Care Savings Account (HCSA) for eligible <br />non -union employees. The purpose of this program is to allow employees to save money on a tax - <br />free basis to pay for health- related expenses after separation from service with the City. The terms <br />for participation are as follows: <br />1. Participation. All non -union employees are required to participate in the HCSA program. <br />2. Unused Compensation. Any unused vacation, sick leave, or personnel time off (PTO) <br />severance pay will be contributed into the HCSA upon termination. <br />3. Salary Contributions. Eligible non -union employees having 25 years of PERA membership <br />shall contribute three percent of their salary into their HCSA. Those with less than 25 years <br />of PERA membership shall contribute two percent of their salary into the HCSA. <br />Contributions shall be calculated and submitted each pay period. <br />All other terms and conditions of this plan are outlined in the plan documents. <br />5.11 College Savings Plan <br />Regular full -time and part-time employees may elect to contribute to the 529 Minnesota College <br />Savings Plan through payroll deductions. The plan has special tax advantages that are designed <br />to help college savings grow. All investment earnings and gains are income tax -free if used to <br />pay for qualified higher education expenses. The Finance Department has more information on <br />the 529 Minnesota College Savings Plan. <br />15 <br />