Laserfiche WebLink
ARTICLE 28. RETIREMENT HEALTH SAVINGS PLAN. <br /> The City of Mounds View offers its employees a Retirement Health Savings Plan pursuant <br /> to Internal Revenue Code regulations through a third party administrator selected by the <br /> CITY. EMPLOYEES shall make the following contributions to the Retirement Health <br /> Savings Plan: <br /> 28.1 Upon separation from employment with the CITY, EMPLOYEES who have <br /> completed two (2) years of service and leave in good standing shall contribute fifty <br /> percent (50%) of unused sick leave to the Plan, up to a maximum lifetime <br /> contribution of 960 hours. EMPLOYEES with more than 10 years of continuous <br /> service shall have an increased maximum contribution such that for every yearof <br /> completed service beyond 10, the maximum contribution shall be increased by 20 <br /> hours. For example, a 15-year employee's maximum lifetime contribution to the plan <br /> would be 1060 hours and a 20 year employee's maximum lifetime contribution <br /> would be 1160 hours, converted at a two-to-one (2 to 1) rate. <br /> 28.2 All EMPLOYEES who are 45 years of age or older on January 1 , 2008 shall <br /> contribute 2% of their salary to the Plan. All EMPLOYEES under the age of 45 as <br /> of January 1, 2008 shall contribute 1% of their salary to the Plan. Mandatory <br /> contributions to the Plan shall occur every pay period beginning with EMPLOYEES <br /> first payroll deduction. <br /> 28.3 Subject to the maximum lifetime contribution as noted in Section 27.1 , <br /> EMPLOYEES shall annually contribute accumulated sick leave balances in <br /> excess of 500 hours to the Plan, converted at a two-to-one (2 to 1) rate. The <br /> maximum annual contribution shall be limited to 50 hours (25 hours converted.) <br /> The annual contribution shall occur during the second to the last pay period of the <br /> year. <br /> ARTICLE 29. WAGES. <br /> 29.1 The following hourly wage schedule will be in effect for Public Works <br /> Maintenance Worker positions for the duration of this AGREEMENT. <br /> Grade 5 2023 2024 2025 <br /> COLA % TBD <br /> Step 1 $29.03 $29.03 Starting Wage <br /> Step 2 $30.19 $30.19 6 Months (4.00%) <br /> Step 3 $31.33 $31.33 1 Years (3.75%) <br /> Step 4 $32.50 $32.50 2 Years (3.75%) <br /> Step 5 $33.72 $33.72 3 Years (3.75%) <br /> Step 6 $34.90 $34.90 4 Years (3.50%) <br /> Step 7 $36.03 $36.03 5 Years (3.25%) <br /> Step 8 $37.11 $37.11 6 Years (3.00%) <br /> Step 9 $38.13 $38.13 7 Years (02.75%) <br /> 100/o <br /> 12 <br />