Laserfiche WebLink
RESOLUTION NO. 9661 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION APPROVING RETIREMENT HEALTH SAVINGS PLAN REVISIONS <br />WHEREAS, the Retirement Health Savings Plan was developed by non -union <br />employees; and, <br />WHEREAS, non -union staff met to revisit the Retirement Health Savings Plan <br />Policy and consider possible changes for the upcoming three years. <br />NOW, THEREFORE, BE IT RESOLVED, that the Mounds View City Council <br />approves revisions to Section 2.11 of the Mounds View Personnel Manual as follows: <br />The City of Mounds View provides its employees with a Retirement Health Savings Plan <br />(RHSP) pursuant to Internal Revenue Code regulations through a third party administrator <br />selected by the City. <br />Section 2.11: RETIREMENT HEALTH SAVINGS PLAN <br />The City provides its employees with a Retirement Health Savings Plan (RHSP) pursuant <br />to Internal Revenue Code regulations through a third party administrator selected by the <br />City. Participation is mandatory and deductions begin on employees' first payroll. <br />For purposes of Item A and E, eligible sick leave hours shall be capped. For each year <br />beyond 10 an additional 20 hours will be added to the cap. <br />The following contributions are required to the Retirement Health Savings Plan: <br />A. Employees who have a sick leave balance of 600 or more hours shall contribute <br />their excess balance to the RHSP at a 2 to 1 ratio with a maximum annual <br />contribution of 160 hours (80 hours converted) or that amount which brings the <br />employee's sick leave balance down to 600 hours --whichever is less. The City <br />shall calculate and process the annual employee contribution to the RHSP on the <br />first payroll period of December of each year. At no point however shall an <br />employee's cumulative contributions exceed the employee's maximum eligible <br />hours, as defined above. <br />B. In addition to the provisions listed in Section A, the following table below and terms <br />shall apply to all non-exempt employees and are calculated on January 1: <br />Group Designation <br />A e + Years of Service <br />Group <br />A <br />Up to 65 <br />Group <br />B <br />66 to 74 <br />Group <br />C <br />75 and above <br />