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<br />Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Mayor and City Council 4.6 <br />Agenda Section Meeting Date Prepared by <br />Consent November 2, 2020 Lauren Wipper, Human Resources Manager <br />Item Description Reviewed by <br />Amend and Restate the City’s Flexible Benefits Cal Portner, City Administrator <br />Plan <br />Reviewed by <br /> <br /> <br />Action Requested <br />Approve, by motion, a resolution amending and restating the city’s Flexible Benefits Plan effective January 1, <br />2020. <br /> <br />Background/Discussion <br />In October and November of 2019 employees made their elections for their 2020 Flexible Benefits Plan. These <br />elections are irrevocable unless the employee experiences a life event. <br /> <br />While employees were able to stop making contributions to their Dependent Care Expense Reimbursement due to <br />daycares closing which created a significant change in the cost of coverage, some employees were left with <br />balances in their accounts. Flexible Benefits for daycare do not have an annual rollover, so all funds must be spent <br />or lost. <br /> <br />The only option available to alleviate some of that loss is to add a Grace Period which will allow employees to <br />submit 2021 expenses incurred from January 1 to March 15 to apply to the 2020 funds. Adding a Grace Period <br />requires an amendment to the city’s benefit plan. <br /> <br />Financial Impact <br />There is no financial impact. <br /> <br />Mission/Policy/Goal <br />N/A <br /> <br />Attachments <br /> Resolution amending and restating the city’s Flexible Benefits Plan effective January 1, 2020. <br /> Amendment to the City of Elk River Flexible Benefits Plan <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br /> <br />service, and community engagement that encourages and inspires prosperity. <br /> Updated: August 2020 <br />