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45. HEALTH CARE SAVINGS PLAN <br />Utilities' employees participate in the Minnesota Post Employment Health Care Savings <br />Plan (HCSP) established under Minn. Stat. § 352.98 and as outlined in the Minnesota State <br />Retirement System's Trust and Plan Documents. All funds collected by the employer on <br />behalf of the employee will be deposited into the employee's Post Employment Health <br />Care Savings Plan account. General participation rules are outlined below, for a complete <br />guide regarding benefits, use, and eligibility see the plan's documents. <br />1. 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 />There will be four groups, concurrent with the pay plan. The four groups are <br />Office, Field Workers, Line Workers, and Management. All groups shall <br />participate in contributions as follows: <br />a. Employees with fewer than 10 years of service are required to contribute <br />1% of their gross wages. <br />b. Employees with fewer than 20 years of service and at least 10 years of <br />service are required to contribute 2% of their gross wages. <br />c. Employees with at least 20 years of service are required to contribute <br />3% of their 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 Health <br />Care Savings account. The conversion will take place once a year at the end <br />of December. <br />3. Employees who voluntarily end their employment and who give the Utilities <br />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 120 days, converted into cash and <br />deposited into their Post Employment Health Care Savings account provided <br />they sign and do not rescind an agreement releasing claims arising out of their <br />employment, in a form prescribed by the Utilities. Employees involuntarily <br />terminated by the Utilities for any reason other than lack of work shall not be <br />eligible to receive such conversion. No contributions will be accepted by the <br />Plan on behalf of an employee after the death of the employee. <br />4. Employees who retire immediately eligible to claim their pension and who <br />give the Utilities proper notice (generally at least two -weeks) shall have <br />100% of unused vacation time converted into cash and deposited into their <br />Post Employment Health Care Savings account, but only on the condition <br />that they sign and do not rescind an agreement releasing claims arising out of <br />their employment, in a form prescribed by the Utilities. <br />49 <br />June 2023 <br />61847929v4 <br />127 <br />