10-12-15 Agenda, Packet & Committee Meeting Notice

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shall be as set forth in the Collective Bargaining Agreement and the City's Personnel Policies and Procedures Manual, as it may be amended from time to time, which is incorporated herein by reference. (3) Payment for Election to Leave Employer's Comprehensive Mayor Medical Insurance Program. The City shall pay one hundred and thirty dollars ($130) per month to any Employee who elects to leave the City's comprehensive major medical insurance program to be covered by another program for which the City makes no contribution. This election shall not be mandatory,and the Employee who made such election may return to the City's comprehensive major medical Insurance Program, provided that there is a Qualifying Life Event or during open enrollment, and the contributions specified herein are made, but in such event said Employee shall forfeit the one hundred and thirty dollars($130)payment per month thereafter. (4) Life Insurance. The City shall provide term life insurance coverage in an amount not less than lx annual salary rounding up to the nearest$1,000 for each Teamster employee. Such insurance shall become effective upon the award of a group life insurance bid by the Board of Public Works, or upon the beginning of the plan year, whichever is later. (5) Benefit Waiting Period. The City notes that life insurance, comprehensive major Medical Insurance, and short term disability programs require a minimum of sixty (60) day eligibility period; and that the long-term disability program requires a minimum of a ninety (90) day eligibility period which Teamster employees must meet. (d) Productivity Bonus. A productivity bonus of up to $250.00 annually per employee, with goals to be set by work group and management may be earned and paid from cost savings realized by employee increased productivity, with first payment no sooner than January 2015, all as set forth more specifically in the Collective Bargaining Agreement. (e) Other Monetary Fringe Benefits. All other fringe benefits shall be as set forth in the City's Personnel Policies and Procedures Manual as it may be amended from time to time and the Collective Bargaining Agreement. If there is a conflict between Policy and the Bargaining Agreement, the Bargaining Agreement shall prevail. (f) Early Retirement Incentives. The Mayor shall have discretion to offer an early retirement incentive program that may take the form of a bonus upon retirement for years of service or assistance with health insurance for a retiree who isn't Medicare eligible. Such assistance shall not exceed one(1) year. Any such bonus or assistance must be approved by the Mayor and Controller and are subject to appropriation by the Common Council before any such bonus or assistance may be paid. I.C. 5-10.2-3-1.2 permits employers to purchase one year for every five years