Retirement Health Savings (RHS) Plan. A. During the effective term of this agreement, the City agrees to provide contributions for regular, full-time Unit employees toward a Retirement Health Savings (“RHS”) Plan, to be administered as described below. The intent of this plan is for the benefits paid to be available to fully or partially defray the costs incurred by employees for health plan premiums or medical expenses after retirement from the City. The plan shall be in lieu of any other City-funded retiree medical plan.
Retirement Health Savings (RHS) Plan. Employees hired, transferred or promoted after July 1, 2012, who are not eligible for retiree health care (no gain - no loss), shall be eligible to participate in a Retirement Health Savings Plan. The City will contribute 6% of an employee's gross wages on a bi-weekly basis, into a self-directed, qualified plan, that shall be transportable and provide 50% vesting after ten (10) years of employment, with a 5% annual vesting increase until the employee is 100% vested after twenty (20) years of employment. An employee who receives a duty disability retirement as the result of an injury shall be considered to have achieved 20 years of service and will be 100% vested in the Retiree Health Saving Plan at the time of their duty-disability retirement. Accordingly, the beneficiary of an employee who is killed while on-duty and performing his/her duties will be 100% vested in the Retiree Health Savings Plan.
Retirement Health Savings (RHS) Plan. Employees participate in the City’s Retirement Health Savings Plan (RHS) subject to the following:
Retirement Health Savings (RHS) Plan. Employees shall contribute, once yearly on March 1st, the value of unused, accumulated sick leave to a RHS Plan, as follows:
Retirement Health Savings (RHS) Plan
