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shall be as set forth in the Collective Bargaining Agreement and the <br /> City's Personnel Policies and Procedures Manual, as it may be <br /> amended from time to time, which is incorporated herein by <br /> reference. <br /> (3) Payment for Election to Leave Employer's Comprehensive Major <br /> Medical Insurance Program. The City shall pay one hundred and <br /> thirty dollars ($130) per month to any Employee who elects to leave <br /> the City's comprehensive major medical insurance program to be <br /> covered by another program for which the City makes no <br /> contribution. This election shall not be mandatory, and the Employee <br /> who made such election may return to the City's comprehensive <br /> major medical Insurance Program, provided that the conditions of the <br /> City's Comprehensive Major Medical Insurance Program are met, <br /> and the contributions specified herein are made, but in such event <br /> said Employee shall forfeit the one hundred and thirty dollars ($130) <br /> payment per month thereafter. <br /> (4) Life Insurance. The City shall provide term life insurance coverage <br /> in an amount not less than Fifteen Thousand Dollars ($15,000) for <br /> each Teamster employee. Such insurance shall become effective <br /> upon the award of a group life insurance bid by the Board of Public <br /> Works, or upon the beginning of the plan year, whichever is later. <br /> (5) Benefit Waiting Period. The City notes that life insurance, <br /> comprehensive major Medical Insurance, and short term disability <br /> programs require a minimum of sixty (60) day eligibility period; and <br /> that the long-term disability program requires a minimum of a ninety <br /> (90) day eligibility period which Teamster employees must meet. <br /> (d) PERF Contribution. The City shall contribute one and one half percent <br /> (1.5%) of the Employee's required three percent (3%) contribution to the <br /> Indiana Public Employee Retirement Fund ("PERF") under Ind. Code 5-10.2- <br /> 3-2. Employees are responsible for the remaining one and one half percent <br /> (1.5%) contribution to PERF. <br /> (e) Longevity. In recognition of certain Employee's dedicated service to the City, <br /> the following Longevity Bonus Plan is provided according to the contract <br /> terms and conditions: <br /> 0-5 Years = $0 <br /> 6-10 Years = $150 <br /> 11-15 Years = $200 <br /> 16-20 Years = $250 <br /> 21+ Years = $350 <br /> (f) Other Monetary Fringe Benefits. All other fringe benefits shall be as set <br /> forth in the City's Personnel Policies and Procedures Manual as it may be <br /> amended from time to time and the Collective Bargaining Agreement. If <br /> there is a conflict between Policy and the Bargaining Agreement, the <br /> Bargaining Agreement shall prevail. <br /> (g) Early Retirement Incentives. The Mayor shall have discretion to offer an <br />