Res18 15714 - Laserfiche WebLink

Browse Search

11/05/2018 benefits to be provided its employees under such federal or state act, the City's obligation to furnish the same benefits under the hospital -medical programs shall be suspended and the contributions agreed to be paid monthly hereunder by the City shall be reduced each month by the amounts which the city is required to expend during such month in the form of contributions or taxed to support said federal or state health plan. If, as a result of such law, the level of benefits provided by such law for any group of employees, or their dependents, is lower in certain categories of services than that provided under the existing major plan, the City shall, to the extent practical, provide a plan of benefits supplementary to the federal or state benefits so as to make benefits in each category of coverage as nearly comparable as possible to the benefits provided under the existing major plan. The City need only expend for this purpose the actual amount required to achieve parity between the benefits provided under any federal or state plan as supplemented in the manner hereinabove described. In no event shall the City be required to expend for such purposes an amount which when added to the contributions or taxes required of the City under the federal or state act, shall exceed the amounts paid at the time such legislation becomes effective. If the benefits provided under the federal or state act exceed the benefits provided hereunder in each category of coverage, the City shall be under no further obligation to make any contribution. Life Insurance —The City shall provide "basic" life insurance coverage of three thousand dollars ($3,000) to all members of the Executive Management Group. The City shall offer to eligible employee's additional life insurance equal to one and one-half (1-1/2) times the employee's annual salary at a 60/40 premium contribution split between the city and the employee respectively. Long Term Disability - The City will contract to provide Long Term Disability Insurance for Executive Management employees. The City will pay the full cost of the basic rate (basic rate provides for up to a three thousand dollars ($3,000) maximum monthly payout). A buy -up option will be included to offer the employee the opportunity to increase their coverage, at their own expense, up to an additional three thousand dollars ($3,000) monthly payout. The total maximum monthly payout available will be six thousand dollars ($6,000). Social Security - In the event the City and its employees are required to participate in the Federal Social Security Program, the contribution designated by law to be the responsibility of the employee shall be paid in full by the employee and the City shall not be obligated to pay or "pick up" any portion thereof. COBRA - The City may cause employees not entitled to the benefits set forth in this Article who are allowed to remain on a City health insurance plan following separation from employment pursuant to the Consolidated Omnibus Budget Reconciliation Act of ATY/RESO.0104/CC RE50 AMENDING SALARY & WAGE PLAN FOR EXECUTIVE MANAGEMENT POSITIONS RESO. NO. 15714 REV: 11-01-18 RL MUFF NO. 905 Page 17 of 22