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as set forth in the Collective Bargaining Agreement and the City's Personnel <br /> Policies and Procedures Manual, as it may be amended from time to time, <br /> which is incorporated herein by reference. <br /> (3) Payment for Election to Leave Employer's Comprehensive Mnior <br /> Medical Insurance Program. The City shall pay one hundred and thirty <br /> dollars ($130) per month to any Employee who elects to leave the City's <br /> comprehensive major medical insurance program to be covered by another <br /> program for which the City makes no contribution. This election shall not <br /> be mandatory,and the Employee who made such election may return to the <br /> City's comprehensive major medical Insurance Program,provided that the <br /> conditions of the City's Comprehensive Major Medical Insurance Program <br /> are met, 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 in an <br /> amount not less than Fifteen Thousand Dollars($15,000)for each Teamster <br /> employee. Such insurance shall become effective upon the award of a group <br /> life insurance bid by the Board of Public Works, or upon the beginning of <br /> the plan year,whichever is later. <br /> (5) Benefit Waiting Period. The City notes that life insurance,comprehensive <br /> major Medical Insurance, and short term disability programs require a <br /> minimum of sixty (60) day eligibility period; and that the long-term <br /> disability program requires a minimum of a ninety(90)day eligibility period <br /> which Teamster employees must meet. <br /> (d) PERF Contribution. The City shall contribute one and one half percent(1.5%)of <br /> the Employee's required three percent (3%) contribution to the Indiana Public <br /> Employee Retirement Fund("PERF")under Ind. Code 5-10.2-3-2. Employees are <br /> responsible for the remaining one and one half percent(1.5%)contribution to PERF. <br /> (e) Longevity. In recognition of certain Employee's dedicated service to the City,the <br /> following Longevity Bonus Plan is provided according to the contract terms and <br /> 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 forth in <br /> the City's Personnel Policies and Procedures Manual as it may be amended from time <br /> to time and the Collective Bargaining Agreement. If there is a conflict between <br /> Policy and the Bargaining Agreement,the Bargaining Agreement shall prevail. <br /> (g) Early Retirement Incentives. The Mayor shall have discretion to offer an early <br /> retirement incentive program that may take the form of a bonus upon retirement for <br /> years of service or assistance with health insurance for a retiree who isn't Medicare <br /> eligible. Such assistance shall not exceed one (1) year. Any such bonus or <br />