RETIREMENT HEALTH SAVINGS. Employees hired on or after July 1, 2011 shall participate in the Retirement Health Savings (RHS) plan to fund for the cost of health care in retirement.
RETIREMENT HEALTH SAVINGS. A. Employees shall participate in a retirement health savings ("RHS") plan administered by ICMA-RC. The plan administration shall be in accordance with ICMA-RC's "Vantage Care Retirement Health Savings Plan". Participation shall begin on the first (1st) pay period of employment.
RETIREMENT HEALTH SAVINGS. All full-time firefighters in the rank of Lieutenant and Firefighter are eligible for the Village’s approved Retirement Health Savings (RHS) Plan in accordance with Section 27.15. The contribution to each eligible employee’s RHS account of unused sick leave hours above twelve hundred (1,200) hours, which are paid at fifty percent (50%) of the employee’s hourly rate, will be made by the Village within sixty (60) days after the beginning of each fiscal year, for eligible sick leave hours accrued the previous fiscal year. If, however, an employee voluntarily leaves the service of the Village prior to the end of a fiscal year, eligible sick leave will be prorated as of the employee’s last day of work and transferred within sixty (60) days to the employee’s RHS account. If, upon the death of the employee, the decedent is not survived by a spouse or any dependents and the decedent’s RHS account balance is transferred to the Village by the approved vendor as required by law, the Village shall distribute the decedent’s RHS account balance in accordance with the decedent’s latest life insurance beneficiary form on file with the Village. If the decedent is not survived by those persons deemed beneficiaries on the latest life insurance beneficiary form on file with the Village, the decedent’s RHS account balance shall be distributed to the decedent’s estate pursuant to the requirements of law. The decedent’s RHS account balance shall be taxable in accordance with the requirements of the law.
RETIREMENT HEALTH SAVINGS. Employees shall be automatically enrolled in a Retirement Health Savings (RHS) plan effective 7/1/2016 and upon hire thereafter. Employees are required to contribute one percent (1%) of gross earnings to their RHS. Contributions to the RHS will be made on a pretax basis as allowable under IRS regulations. Effective July 1, 2019 and through June 30, 2020, the Employer contribution to the Employee’s RHS shall be $76.92 per regular pay period. Effective July 1, 2020, the Employer contribution to the Employee’s RHS shall be $38.46 per regular pay period.
RETIREMENT HEALTH SAVINGS. (RHS) PLAN
RETIREMENT HEALTH SAVINGS. A. Employees will participate and contribute to retirement health savings (RHS) plan administered by the City of Fort Xxxxxxx as provided in the Establishing IGA.
RETIREMENT HEALTH SAVINGS. Employees shall be automatically enrolled in a Retirement Health Savings (RHS) plan effective 7/1/2016 and upon hire thereafter. Contributions to the RHS will be made on a pretax basis as allowable under IRS regulations.
RETIREMENT HEALTH SAVINGS. When an employeea union member retires, they will be eligible to use 50% of their accumulated, uncompensated and unused sick time, based on their last day base hourly rate, for all medical expenses eligible under IRS guidelines. A report shall be prepared by the Village at time of retirement to indicate the amount of accumulated Retirement Health Savings and shall be updated no later than December 1 of each following year. For the purposes of clarifying this section, retiring shall mean an employeea union member with at least 20 years of pensionable service and having attained age 50 or the granting of a disability pension. Anyone with 20 years of pensionable service but less than age 50, will receive this benefit upon separation of service.
RETIREMENT HEALTH SAVINGS. Employees Union members will be responsible for choosing an investment option for their accounts. The health insurance retirement account will be established and the Village will begin contributions by May 1, 2006 and continue thereafter. ARTICLE XIV – TUITION REIMBURSEMENT AND TRAINING PROGRAMS
RETIREMENT HEALTH SAVINGS. All employees hired on or after 1/1/2012 will not be eligible for medical and prescription benefits upon retirement. They will participate in the County’s Retiree Health Savings Plan (RHS). Parameters of the plan are:
