Agenda Packets - 2008/07/28 - Laserfiche WebLink

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Contributions to the RHS PLAN shall be as follows: A. Upon separation from employment with the City, EMPLOYEES shall contribute their compensation of accrued vacation and compensatory time to the RHS PLAN. EMPLOYEES who have completed four years of service upon separation shall contribute fifty percent (50%) of unused sick leave to the PLAN, calculated against a maximum accumulation of 960 hours, except as noted in Article 20.2 of this AGREEMENT. EMPLOYEES who separate without having completed a minimum of four years of service do not qualify for sick leave payout. EMPLOYEES who had completed ten years of service by January 1, 2008 shall, upon separation, have earned the ability to contribute 65% of remaining unused sick leave to the PLAN under the same terms stated herein. (The 65% bonus rate applies ONLY to those EMPLOYEES having completed ten years of service by the date indicated and ONLY for hours converted at separation.) B. EMPLOYEES between the ages of fifty (50) and fifty-eight (58) with ten or more years of service shall contribute ten percent (10%) of their annual pay to the RHS PLAN on a pre-tax basis. EMPLOYEES between the ages of fifty-nine (59) and sixty-five (65) with ten or more years of service shall contribute eighteen percent (18%) of their annual pay to the PLAN on a pre-tax basis. EMPLOYEES who are sixty-six (66) years of age and older shall contribute ten percent (10%) of their annual pay to the PLAN on a pre-tax basis. C. EMPLOYEES who have accumulated greater than six-hundred (600) hours of sick leave shall contribute their excess balance to the RHS PLAN at a 2 to 1 ratio with a maximum annual contribution of 160 hours (80 hours converted) or that amount which brings the EMPLOYEE’S sick leave balance down to 600 hours--whichever is less. Total lifetime contribution to the PLAN shall not exceed 960 hours (480 hours converted), except as noted in Article 20.2 of this AGREEMENT. Contributions to the plan made under the provisions of this Section C shall cease if the EMPLOYEE’S sick leave balance falls below 600 hours. EMPLOYER shall process the contribution on the first payroll period of November each year. 22.2 EMPLOYEE sick leave contributions made to the RHS PLAN prior to January 1, 2008 shall be excluded from maximum contribution calculations as specified in Article 22.1(C) or the maximum accumulation provisions of Article 20. 22.3 EMPLOYEE sick leave hours used consistent with the EMPLOYER’S Health Club Membership Reimbursement Policy shall be excluded from maximum contribution calculations as specified in Article 22.1(C) or the maximum accumulation provisions specified in Article 20.