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meeting the goals of the strategic plan. The agreement can be terminated at anv time. Employees <br />interested in this option should see Human Resources for more information. <br />4.4 Employee Savings Plans <br />�111 employees eligible to enroll in PERA are also eligible to place a portion of their earnings in, <br />457 savings plans: pre-tax and/or post tax programs. <br />pease contact Human Resources regarding maximum annual contribution amounts and for any <br />other specific information regardingPese plans. <br />4.5 Flexible Spending Account <br />Employees can establish flexible spending accounts a ,a have pre-tdeductions made from their <br />payroll checks to pay for eligible childcare and eligible medical expenses. The law limits the <br />maximum contributions that employees can make to their flexible spending account and the <br />specific expenses that can be paid out of such accounts. Employees should contact Human <br />Resources for additional details. <br />4.6 Retiree Benefits <br />Minnesota law provides for continuation of health and dental coverage to certain former employees <br />who are receiving a disability benefit or an annuity from PERA, or who have met PERA age and <br />service requirements. Former employees are responsible for paying the entire premium. Failure <br />to do so will result in termination of coverage. Employees should contact Human Resources for <br />additional details. <br />4.7 COBRA <br />Employees participating in the City's group health insurance plan who terminate employment with <br />the City or experience another event which triggers their legal entitlement to insurance <br />continuation will receive a notice of their right to elect continued insurance coverage consistent <br />with state and federal law, including, but not limited to, the Consolidated Budget Omnibus <br />Reconciliation Act of 1985 ("COBRA") (as amended). The notice will be provided in accordance <br />with such laws and employees must comply with those laws if they wish to continue coverage after <br />separating from the City's employment, including, but not limited to, paying the entire premium <br />for the duration of the continuation coverage. Employees should contact Human Resources for <br />additional details. <br />4.8 Non -union Post -employment Healthcare Savings Plan (PEHCSP) <br />The PEHCSP is an employer -sponsored program that allows employees to invest in a tax -,preferred <br />medical savings account while employed by a Minnesota public employer. <br />l Formatted: Underline <br />- -I Formatted: Normal <br />- 1 Deleted: Deferred Compensation ¶ <br />Deleted: a <br />Deleted: through Minnesota State Retirement or ICMA <br />Retirement Corporation <br />fDeleted: investment program. <br />Deleted: Deferred compensation plans are available through <br />ICMA Retirement Corporation and Minnesota State Deferred <br />1 Compensation. <br />fDeleted: deferred compensation <br />Deleted: ¶ <br />181Page <br />- - f Formatted: Normal <br />Deleted: free <br />