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22.4 Other leave may be granted in accordance with the Family and Leave Act <br />(FMLA) as appropriate. <br />ARTICLE 23 - SEVERANCE PAY <br />23.1 Lump Sum Severance <br />A. Upon separation from employment with the City, employees with less than <br />twenty (20) years of service and leave in good standing will receive a <br />lump -sum taxable severance compensation for all accrued vacation and <br />compensatory time. <br />B. Employees who separate with less than two years of service are not <br />eligible to be compensated for accrued sick leave. (Employees who <br />separate with two or more years of service will contribute their eligible sick <br />leave hours to the Retirement Health Savings Plan as provided in 23.2.A). <br />23.2 Retirement Health Savings Plan <br />The City of Mounds View offers its employees a Retirement Health Savings Plan <br />pursuant to Internal Revenue Code regulations through a third party <br />administrator selected by the City. Future changes in the Internal Revenue Code <br />regulations may change the tax status of this plan and the City shall not be liable <br />for such changes. <br />Contribution to the Plan shall occur according to the following provisions: <br />A. Employees who have completed two or more years of service and leave in <br />good standing shall direct their eligible sick leave compensation to the <br />Plan. Eligible sick leave shall be computed based on years of completed <br />service, less elected annual contributions, computed according to the <br />table in Appendix B, at a conversion rate of two for one (50%). <br />Employees who had accumulated 960 or more hours of sick leave as of <br />January 1, 2005 are not subject to the computation table in Appendix B. <br />Rather, any such employee shall direct sixty-five percent (65%) of their <br />remaining sick leave compensation to the Plan. <br />B. Upon separation from employment with the City, employees who have <br />completed twenty (20) or more years of service and leave in good <br />standing will contribute 100% of their compensation for accrued vacation <br />and compensatory time to the Plan. <br />C. Employees will contribute a percentage of their annual pay on a pre-tax <br />basis to the plan as follows: <br />12 <br />