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Request for Action <br />To Item Number <br />Ma ror and Cinr Council 5.11 <br />Agenda Section Meeting Date Prepared by <br />Consent January 3, 2023 Lauren Wipper, Human Resources Manager <br />Item Description Reviewed by <br />Amend and Restate the City's Fle�ble Benefits Cal Portner, Citv Administrator <br />Plan Reviewed by <br />Action Requested <br />Adopt, b�r motion, a Yesolution amending and Yestating the cityr's Fle�ble Benefits Plan effective Januaryr 1, 2023. <br />Background/Discussion <br />In DecembeY of 2013, ouY Health Fle�ble Spending Account (HFSA), which is one component of ouY Fle�ble <br />Benefits Plan, was amended to remove the Grace Period and add a Limited Carryover. The carryTover amount was <br />stated to be $500.00. <br />The IRS has been increasing this amount each year and the 2023 allo�ved carryTover is $610.00. We would like to <br />amend our plan to provide for the ma�mum carryTover amount allo`ved byT the IRS each yTear. <br />Financial Impact <br />These are funds that are set aside b�T emplo�Tees to pa�T for allowed medical expenses. There is no additional cost to <br />the cityT to increase the carryTover amount. <br />Mission/Policy/Goal <br />The Elk RiveY l��ission <br />Attachments <br />■ Resolution amending and Yestating the city's Fle�ble Benefits Plan effective Januaryr 1, 2023. <br />■ Amendment to the Cit�T of Elk River Fle�ble Benefits Plan <br />The Elk River Vision <br />A 2a�elcolning co�nlnunity 2a�ith T evolutiona� y and spizzted T esou� cefulness, exceptional <br />se�vice, and coln�nunity engagelnent that encou�ages and ins�iz•es pTo�pe�zty. <br />row�REo ar <br />�I'1 ���� <br />Up�iited.• August 2020 <br />