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ARTICLE 23 - SEPARATION PAY <br />23.1 Separation Pay <br />A. Upon separation from employment with the City, employees who separate <br />will contribute all accrued vacation and compensatory time to the <br />Retirement Health Savings Plan (RHSP) as provided in 23.2.A. <br />B. Employees who separate with less than two (2) years of service are not <br />eligible to be compensated for accrued sick leave. Employees who <br />separate with two (2) or more years of service willcontribute their eligible <br />sick leave hours to the Retirement Health Savings Plan (RHSP) as provided <br />in 23.2.8. <br />23.2 Retirement Health Savings Plan <br />The City of Mounds View offers its employees a Retirement Health Savings Plan <br />(RHSP) pursuant to Internal Revenue Code regulations through a third -party <br />administrator selected by the City. Future changes in the Internal Revenue Code <br />regulations may change the tax status of this plan and the City shall not be liable <br />for such changes. <br />Contribution to the RHSP shall occur according to the following provisions: <br />A. Upon separation from employment with the City, all accrued vacation and <br />compensatory time will be directed to the employees' Retirement Health <br />Savings Plan (RHSP). <br />B. Employees who have completed two (2) or more years of service and leave <br />in good standing shall direct their eligible sick leave balance to the RHSP, <br />Eligible sick leave shall be computed based on years of completed service, <br />less elected annual contributions, computed according to the table in <br />Appendix B, at a conversion rate of two (2) for one (1). <br />C. Employees will contribute a percentage of their annual pay on a pre-tax <br />basis to the RHSP as follows: <br />Class Percentage <br />of salary <br />All employees 30/0 <br />Employees shall remain in the same class for the duration of this <br />Agreement. <br />ARTICLE 24 - HOLIDAYS <br />24.1 Employees shall receive the following holidays: New Year's Day, Martin Luther <br />13 <br />