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Docusign Envelope ID: 45060F3D-C86D-4163-9351-F1564A01C80A <br />2. Disability Retirement <br />For all employees who retire due to disability, the City shall pay a percentage of <br />the City's contribution toward the monthly premium for single coverage for the <br />lowest cost HMO plan in accordance with the schedule set forth below: <br />Years of Service <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />City's Contribution <br />20% <br />25% <br />22 <br />23 <br />24 <br />25 + years of service <br />3. City Contributions <br />30% <br />35% <br />40% <br />45% <br />48% <br />51% <br />54% <br />57% <br />80% <br />84% <br />88% <br />92% <br />96% <br />100% <br />The City's contribution for retiree medical is established as the same dollar <br />contribution paid for active employees at the employee only rate of the lowest <br />cost HMO early retiree plan. <br />The City's contribution for an active employee is identified during open <br />enrollment each year as follows: the total monthly premium at the employee only <br />rate of the lowest cost HMO plan minus $25. For example, in 2022-2023 the <br />total monthly premium at the employee only rate of the lowest cost HMO was <br />$766.67. The City's monthly contribution for active employees at the employee <br />only rate of the lowest cost HMO plan for 2022-2023 was $741.67 ($766.67- <br />$25 = $741.67). <br />Employees who retire on or after January 1, 2024 will begin to receive a benefit <br />calculated as their earned percentage of the City's contribution for an active <br />employee at the employee only rate of the lowest cost HMO plan according to <br />the following formula: <br />(Years of Service x 4%) x City's Contribution = Retiree's Monthly Benefit. <br />For example, in 2022-2023 the City's contribution for the employee only rate of <br />the lowest cost HMO was $741.67. A retiree with 15 years of service would <br />31 <br />