Agenda - Council - 03/11/2025 - Laserfiche WebLink

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Funding Sources An employer may elect to contribute either a specified dollar amount or a percentage of employees' salaries into separate accounts established for each employee in the Trust Fund. Contributions may be derived from one or more of the following sources, as determined by the employer(s): ■ Additional Employer Contributions. Contributions may be made in addition to the salary and other benefits provided to employees. ■ Mandated Employee Contributions. The employer may mandate that employees' salaries be reduced to offset contributions. ■ Severance Pay. Many public employers pay unused vacation and/or sick leave as severance pay at the time an employee terminates employment. An employer may mandate that all or a portion of such severance pay be paid to the Trust Fund. Employer Responsibilities The employer shall: • Enroll each employee group in the Plan in a manner approved by the Administrator. • Shall obtain approval from the Administrator for the group to participate in the Plan before contributions are remitted on behalf of employees. • Notify the Administrator when Plan language has been modified. • Notify the Administrator if the employee group will no longer participate in the Plan. • Remit contributions to the Trust Fund within a period that is not longer than is reasonable for the proper administration of the Participant's account balance. Plan contributions shall be deemed to be remitted within a period that is not longer than 15 business days following the end of the month in which the amount would otherwise have been paid to the Participant unless specifically stated otherwise in the bargaining agreement or personnel policy. HCSP Plan Document December 1, 2023