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I. Employees are required to contribute to the Post Employment Health Care <br /> Savings Plan. These funds will be deposited after each pay period. The <br /> contribution shall be based on the following structure: <br /> a. Regular Field Workers with fewer than 10 years of service are <br /> required to contribute 1%of their gross wages. <br /> b. Regular Field Workers with fewer than 20 years of service and at least <br /> 10 years of service are required to contribute 2% of their gross wages. <br /> c. Regular Field Workers with at least 20 yeast of service are required to <br /> contribute 3%of their gross wages. <br /> d. Non Regular Field Workers are required to contribute 1% of their <br /> gross wages. <br /> 2. Employees who have accrued over 960 hours of sick time will have 50% of <br /> those hours converted to cash and deposited in their Post Employment <br /> Health Care Savings account. The conversion will take place once a year at <br /> the end of December. <br /> 3. Employees who voluntarily end their employment and who give the <br /> Utilities proper (generally at least two-weeks) notice, and employees whose <br /> employment ends involuntarily because of lack of work, will have 50% of <br /> unused sick leave, up to a maximum of 1440120 days, converted into cash <br /> and deposited into their Post Employment Health Care Savings account <br /> provided they sign and do not rescind an agreement releasing claims arising <br /> out of their employment, in a form prescribed by the Utilities. Employees <br /> involuntarily terminated by the Utilities for any reason other than lack of <br /> work shall not be eligible to receive such conversion. <br /> Effective 11/13/2012, the maximum conversion is 50% of 120 days. <br /> 38. 457 DEFERRED COMPENSATION <br /> The Utilities will match funds contributed by employees, up to 3% of their base salary <br /> annually, with a maximum contribution of$2,000.00. These plans are administered by <br /> the Minnesota State Deferred Compensation Plan and/or Wenzel & Associates' ING <br /> Plan. <br /> The Utilities' contribution will be made May 31st of each plan year for the employee. If <br /> an employee departs prior to May 31st, she/he will receive a prorated contribution for <br /> that year. For a complete plan description consult the summary plan description <br /> distributed to each employee or available upon request. <br /> 31 <br /> October 2011 <br /> April 2013 <br />