Resolution 6509 - Laserfiche WebLink

Home Browse Search

e . . 4. 14.7 Employees may take compensatory time in lieu of overtime pay. Compensatory time may be calculated up to fifty (50) hours. 3. Article 17 Insurance 17.1 The EMPLOYER will contribute to each employee per month a maximum amount equal to eighty percent (80%) of the lowest cost family health insurance for employee and family health insurance and basic life insurance. 17.2 Employees may designate any unused portion of the EMPLOYER contribution amount to provide dental coverage and/or supplemental life insurance offered according to established guidelines through the City's plans. 17.3 The Employer will contribute a maximum amount of $613.30 per month in 2004 to each full-time permanent employee, for group health, dental and life insurance including dependant coverage. 17.4 The EMPLOYER will contribute a maximum amount of $672.30 per month in 2005 to each full-time permanent employee, for group health, dental and life insurance including dependant coverage. If the increase in the lowest cost group health insurance premium for family coverage in 2005 is 15% or greater, the City will contribute an additional $10 per month per employee. Article 22 Severance Pay 22.1 Any employee who has accumulated 960 hours of sick leave as of January 1, 2005, and who have completed ten (10) years of service will be eligible to receive severance pay in the amount of fifty percent (50%) of unused sick leave. Upon death of the employee, the beneficiary of the employee shall be paid the benefit. 22.2 Any employee who has accumulated a minimum of 960 hours of sick leave as of January 1, 2005 will be eligible to contribute sixty-five percent (65%) of the employee's accumulated and baked sick leave for contribution to the employee's designated health savings plan. Employees who have accumulated a minimum of 960 hours of sick leave as of January 1, 2005, will be covered by the Retirement Health Savings language of Section 22.3. 22.3 Retirement Health Savings The City of Mounds View offers its employees a Retirement Health Savings Plan pursuant to Internal Revenue Code regulations through a third party administrator selected by the City. The following contributions will be allowed to the Retirement Health Savings Plan: