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<br />Plan Designs for Consideration <br /> <br />Staff is proposing two sets of design options for employees: one set for employees who <br />participate in PERA's Coordinated plan and a second set for those who participate in <br />PERA's Police and Fire plan. <br /> <br />Benefit <br /> <br />PERA Coordinated Plan <br />Members <br /> <br />PERA Police &Fire <br />Members <br /> <br />Sick Leave <br /> <br />50%@ 10 years of service, and <br />75% @ 15 years of service <br /> <br />100% if hired prior to 1-1-08 <br /> <br />Salary <br /> <br />NA <br /> <br />2% ifhired prior to 1-1-89 <br />1% ifhired after 1-1-89 <br /> <br />Vacation <br /> <br />NA <br /> <br />50% if hired prior to 1-1-95 <br /> <br />Staff Recommendation <br /> <br />Staff recommends that the Personnel Committee make the following motion: <br /> <br />· To appoint MSRS as the City's post-employment health care savings plan <br />administrator <br /> <br />· To adopt the health care savings, plan provisions indicated in the table above . <br />effective July 15, 2008 for non-union employees and update the Personnel Policy <br />as per the terms in the table. <br /> <br />Funding Source <br /> <br />Fees are paid by employees (or former employees) only when the individual begins <br />making contributions to the plan. The annual administrative fee is .65% of assets up to a <br />maximumof$140 per year. The annual administrative fee is prorated monthly (.054%) <br />and is based on the asset value at the end of the month. <br /> <br />-126- <br />