Agenda - Council Work Session - 11/25/2025

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4.7 COBRA Employees participating in the City's group health insurance plan who terminate employment or experience another qualifying event that triggers their legal entitlement to insurance continuation will receive a notice of their right to elect continued insurance coverage consistent with state and federal law, including but not limited to the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") as amended). The notice will be provided as required by law, and employees must follow the procedures outlined, including but not limited to paying the full premium for the continuation coverage. Employees should contact Human Resources for additional details. 4.8 Non -Union Post -Employment Healthcare Savings Plan The PEHCSP is an employer -sponsored program that allows employees to invest in a tax - preferred medical savings account while employed by a Minnesota public employer. All non -union employees hired after January 1, 1984, will participate in the post -employment healthcare savings plan, contributing as follows: PERA COORDINATED MEMBERS • GROSS WAGES: Employees shall contribute 2% of their gross wages after 1 year of service until reaching eligibility to draw their PERA pension (age 55), at such time increase the contribution to 4% of gross wages and continue thereafter. Eligibility to draw the PERA pension shall take precedent over the duration of employment. • VACATION SEVERANCE: Employees shall, upon separation of employment, contribute unused accrued vacation time, as follows: Years of Regular Employment Served 5 years 10 years 15 years and greater Severance Contribution of Unused Vacation Time to the HCSP 50% 75% 100% Severance Payable Directly to Employee 50% 25% 0% PERA POLICE & FIRE MEMBERS • GROSS WAGES: Employees shall contribute 2% of gross wages after 1 year of service until reaching the 5th year before being eligible to draw their PERA pension (age 50), at such time increase the contribution to 6% of gross wages and 20