CITY COUNCIL AGENDA PACKET - Laserfiche WebLink

30 employee is identified during open enrollment each year as follows: the total monthly premium at the employee plus one rate of the lowest cost HMO plan minus $25. For example, in 2022-2023 the total monthly premium at the monthly contribution for active employees at the employee plus one rate of the lowest cost HMO plan for 2022-2023 was $1,508.36 (1,533.36 - $25 = $1,508.36). Employees who retire on or after January 1, 2024 will begin to receive a benefit employee at the employee plus one rate of the lowest cost HMO plan according to the following fo identified during open enrollment each year. For example, in 2022- the lowest cost HMO was $1,508.36. A retiree with 15 years of service would receive a monthly benefit of $905.02 (15 x 4% = 60%) (60% x $1,508.36 = $905.02) 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.C.3 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 All retirees eligible for Medicare are required to apply for Medicare benefits. Upon qualifying for and receiving parts A and B of Medicare, the City shall not be obligated to contribute an amount in excess of the monthly premium for the lowest cost HMO health plan supplement to Medicare for employee and one dependent coverage (two-party rate). D. Vesting Schedule for Employees Hired On Or After July 1, 2012 1. Service Retirement For all employees who are hired on or after July 1, 2012 and retire from service, the City shall provide the following benefit: The City shall pay for each year of service equivalent to four percent (4%) of the monthly premium for single coverage. Page 224 of 674