2022 - 2025 - Laserfiche WebLink

19 57% 20 80% 21 84% 22 88% 23 92% 24 96% 25 + years of service 100% 3. City Contributions The City's contribution for retiree medical is established as the same dollar contribution paid for active employees at the employee only rate of the lowest cost HMO early retiree plan. The City's contribution for an active employee is identified during open enrollment each year as follows: the total monthly premium at the employee only rate of the lowest cost HMO plan minus $25. For example, in 2022-2023 the total monthly premium at the employee only rate of the lowest cost HMO was $766.67. The City's monthly contribution for active employees at the employee only rate of the lowest cost HMO plan for 2022-2023 was $741.67 ($766.67- $25 = $741.67). Employees who retire on or after January 1, 2024 will begin to receive a benefit calculated as their earned percentage of the City's contribution for an active employee at the employee only rate of the lowest cost HMO plan according to the following formula: (Years of Service x 4%) x City's Contribution = Retiree's Monthly Benefit. For example, in 2022-2023 the City's contribution for the employee only rate of the lowest cost HMO was $741.67. A retiree with 15 years of service would receive a monthly benefit of $445.00 (15 x 4% = 60%) (60% x $741.67 = $445.00). 4. Reimbursement for non -City Plans In the event a retiree obtains medical coverage through a plan not offered through the City of Pleasanton, the City will reimburse the retiree up to the amount outlined in Section 16.2 D.3 for the single rate, but no more than the amount paid by the retiree. Retirees must supply proof of coverage and proof of payment in order to be reimbursed. 5. Benefits for Medicare Eligible Retirees Retiree health benefits will cease once a retiree becomes Medicare eligible. 6. Retiree Health Savings Account 27