Agenda Packets - 1997/04/07 - Laserfiche WebLink

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Worker's Compensation Managed Care Services The City enrolled in a worker's compensation certified management care plan with Comprehensive Managed Care (CMC). Managed care allows employers to better coy-rdi late medical care for injured workers and control worker's compensation costs. Under managed care, a trained case worker actively manages the employee's workers' compensation claim. The case worker assists the employee in getting proper medical treatment and ul4mately returning to work. Employees are required to selection a doctor from the managed care provided network for treatment. Specific information pertaining to procedures and exceptions to provider requirements are available from the Payroll office. POLICY: RETIREMENT BENEFITS Approved By: Section: 3.15 Revision History: 1997 Page: 1 of 1 PERA PERA or Public Employees Retirement Association is available to elected and nonelected public employees who meet eligibility requirements. If you are a non-elected public employee meeting income and position requirements set by state statute, you automatically become a member when you begin public service. If you are a qualified elected officer or are appointed to • an elected office,membership is optional. Any employee hired after January 1, 1968 is a member of the coordinated PERA-FICA program. To participate in this program, each employee has a 4.23% deduction form his/her paycheck(match percentage varies for Patrol Officers) The City then pays a portion of the employee's salary as a"match." PERA offers retirement options to best suit your personal needs. If you were first hired for a position covered by PERA or another Minnesota public retirement program prior to July 1, 1989, you are eligible to a full (unreduced) retirement from PERA is you are 65 or over and have at least one year of public service; or your age plus years of public service total at least 90 (Rule of 90), regardless of your age. If you entered public service in Minnesota for the first time on July 1, 1989, or thereafter, you qualify for a full pension when you have a minimum of one year of service under PERA and qualify for full retirement benefits from Social Security. Early Retirement If you retire before age 65, your may be eligible for a reduced benefit providing you are at least age 55 and have three or more years of service; or you have 30 or more years of service, regardless of age (if first hired prior to July 1, 1989). Deferred Compensation Deferred compensation is an IRS approved method for deferring federal and some state income taxes on savings until retirement. Taxes are paid on the savings and earnings when withdrawn,