Employees Hired After June 7, 2011. Effective the first full pay period after January 1, 2016, the contribution provided by employees hired after June 7, 2011 to the OPEB Trust will be equal to 1% of top step base salary of a firefighter. Effective the first full pay period after January 1, 2017 and continuing thereafter until modified by subsequent agreement, the contribution provided by employees hired after June 7, 2011 to the OPEB Trust will be equal to 2% of top step base salary of a firefighter. If the creation of the OPEB Trust is still pending on any date on which the employees’ contribution is due, the contribution will be deposited in an interest bearing account that is separate from the City’s general fund until such time as the creation of the OPEB Trust is complete and the money, including any accumulated interest, can be transferred to the OPEB Trust. Contributions to the OPEB Trust, or to the interest bearing account holding funds to be transferred to the OPEB Trust upon its creation, are irrevocable and will not be used towards the payment of OPEB benefits before January 1, 2019. Nothing in these provisions is intended to modify the City’s obligation to provide Retiree Health and Dental benefits outlined in Section 14.4.
Employees Hired After June 7, 2011. To be eligible for the retiree health and dental benefits, employees hired after June 7, 2011 must have been employed by the City of Alameda for no less than ten years and must retire from the City of Alameda within 120 days of separation. Upon retirement with at least ten years of service, the City shall contribute up to the single-party rate for either the Kaiser or Blue Shield Bay Area health plans (whichever plan is chosen by the employee). Should an employee elect a plan other than Kaiser or Blue Shield, the maximum contribution by the City shall be an amount not to exceed the higher of the Kaiser or Blue Shield Bay Area rates and shall not exceed the cost of the elected plan. When the employee becomes eligible for Medicare, the Medicare supplement rates for Kaiser or Blue Shield will apply. Upon separation from service, the employee shall contribute any unused vacation leave, unused compensatory leave and up to 50% of unused sick leave, into a 401(a)(h) plan subject to the IRS limitations. For dental, the City shall provide dental benefits up to the single-party rate. Should either the Kaiser or Blue Shield plans no longer be offered, the parties shall meet and confer on a substitute provider. Effective January 1, 2016, employees hired after June 7, 2011 shall contribute an amount equal to 2% of regular base monthly salary to a supplemental retirement plan created under IRC 401(a) and 401(h) and to be invested in a way chosen by the employees. Contributions to the supplemental retirement plan shall be on a “pick up” basis as defined in IRC 414(h)(2). This supplemental retirement plan allows the accrual of retiree health benefits. Contributions are divided 25% to the 401(h) or retiree health bucket, and 75% to the 401(a) or retiree income bucket. The plan will be administered by a third party administrator, Xxxxx and Associates Inc. All plan expenses will be paid by the participants from the trust. Upon separation from service, the employee shall contribute any unused vacation leave, unused compensatory leave and any unused sick leave that has not been converted to PERS Service Credit, into the plan, subject to IRS limitations. The City is not responsible in any way for any contribution or “pick up” to the above-described supplemental retirement plan.
Employees Hired After June 7, 2011. To be eligible for the retiree health and dental benefits, employees hired after June 7, 2011 must have been employed by the City of Alameda for no less than ten years and must retire from the City of Alameda within 120 days of separation. Upon retirement with at least ten years of service, the City shall contribute up to the single-party rate for either the Kaiser or Blue Shield Bay Area health plans (whichever plan is chosen by the employee). Should an employee elect a plan other than Kaiser or Blue Shield, the maximum contribution by the City shall be an amount not to exceed the higher of the Kaiser or Blue Shield Bay Area rates and shall not exceed the cost of the elected plan. When the employee becomes eligible for Medicare, the Medicare supplement rates for Kaiser or Blue Shield will apply. For dental, the City shall provide dental benefits up to the single-party rate. Should either the Kaiser or Blue Shield plans no longer be offered, the parties shall meet and confer on a substitute provider. Effective January 1, 2013, employees hired after June 7, 2011 shall contribute an amount equal to 3% of regular base monthly salary to a supplemental retirement plan created under IRC 401(a) and 401(h) and to be invested in a way chosen by the employees. Contributions to the supplemental retirement plan shall be on a “pick up” basis as defined in IRC 414(h)(2). This supplemental retirement plan allows the accrual of retiree health benefits. Contributions are divided 25% to the 401(h) or retiree health bucket, and 75% to the 401(a) or retiree income bucket. The plan will be administered by a third party administrator, Xxxxx and Associates Inc. All plan expenses will be paid by the participants from the trust. Upon separation from service, the employee shall contribute any unused vacation leave, unused compensatory leave and unused sick leave that has not been converted to PERS service credit, into the plan, subject to IRS limitations. Effective the first full pay period after January 1, 2016, and continuing thereafter until modified by subsequent agreement, all employees hired after June 7, 2011 shall uniformly reduce their contribution from 3% to 2% of regular base month salary to the supplemental retirement plan. The City is not responsible in any way for any contribution or “pick up” to the above- described supplemental retirement plan.
Employees Hired After June 7, 2011. Effective the first full pay period after January 1, 2016, the contribution provided by employees hired after June 7, 2011 to the OPEB Trust will be equal to 1% of top step base salary of a firefighter. Effective the first full pay period after January 1, 2017 and continuing thereafter until modified by subsequent agreement, the contribution provided by employees hired after June 7, 2011 to the OPEB Trust will be equal to 2% of top step base salary of a firefighter. If the creation of the OPEB Trust is still pending on any date on which the Employee’s contribution is due, the contribution will be deposited in an interest bearing account that is separate from the City’s general fund until such time as the creation of the OPEB Trust is complete and the money, including any accumulated interest, can be transferred to the OPEB Trust. Contributions to the OPEB Trust, or to the interest bearing account holding funds to be transferred to the OPEB Trust upon its creation, are irrevocable and will not be used towards the payment of OPEB benefits before January 1, 2019. At the end of the City contribution period, it is agreed that the City and Safety members will meet to evaluate the performance of the Trust, and contributions of the City and safety members thereafter will be mutually agreed to, if any. Nothing in these provisions is intended to modify the City’s obligation to provide Retiree Health and Dental benefits outlined in Section 14.4.
Employees Hired After June 7, 2011. To be eligible for the retiree health and dental benefits, employees hired after June 7, 2011 must have been employed by the City of Alameda for no less than ten years and must retire from the City of Alameda within 120 days of separation. Upon retirement with at least ten years of service, the City shall contribute up to the single-party rate for either the Kaiser or Blue Shield health plans in the Region or Area that Alameda County is assigned by CalPERS (which ever plan is chosen by the employee). Should an employee elect a plan other than Kaiser or Blue Shield, the maximum contribution by the City shall be an amount not to exceed the higher of the Kaiser or Blue Shield rates in the Region or Area that Alameda County is assigned by CalPERS and shall not exceed the cost of the elected plan. When the employee becomes eligible for Medicare, the Medicare supplement rates for Kaiser or Blue Shield will apply. For dental, the City shall provide dental benefits up to the single-party rate. In any year in which Blue Shield is not offered, the limit to reimbursement will be the higher of either the Kaiser single –party premium or the average of all plans offered in the Region or Area that Alameda County is assigned by CalPERS. The averaging of plans is limited to only the impacted categories that no longer offer Blue Shield (Basic, Combination, or Supplement/Managed Medicare). Should the Kaiser plan no longer be offered, the parties shall meet and confer on a substitute provider or rate. The City will notify the AFCA prior to open enrollment if the Blue Shield plan is not included in the medical plans being offered for the coming year. The City will meet at AFCA’s request to review the calculation of the average plan cost used to set the reimbursement rate.
