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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, upon resignation, termination, or retirement, will have 50% of <br />unused sick leave, up to a maximum of 100 days, converted into cash and <br />deposited into their Post Employment Health Care Savings account. <br />45. 457 DEFERRED COMPENSATION <br />The Utility 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 Utility's 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 not receive a contribution for that <br />year. For a complete plan description consult the summary plan description distributed to <br />each employee or available upon request. <br />46. HEALTH INSURANCE COVERAGE <br />Eligible employees who regularly work at least 30 hours per week, and enroll in the <br />health insurance plan provided by the Utility, the Utility will pay eighty percent (80%) of <br />the monthly premium per employee/family for health insurance. Any monthly premium <br />over and above 80% of the health coverage is the responsibility of the employee. <br />Employees should consult the Summary Plan Description for details regarding coverage <br />and eligibility. A copy of this description will be provided to employees and is available <br />upon request. <br />47. DENTAL INSURANCE <br />Eligible employees who regularly work at least 30 hours per week and who enroll in the <br />Utility's dental insurance plan, the Utility will pay seventy-five percent (75%) of the <br />monthly premium per employee/family for dental insurance. Any monthly premium over <br />and above 75% of the dental coverage is the responsibility of the employee. Employees <br />should consult the Summary Plan Description for details regarding coverage and <br />eligibility. A copy of this description will be provided to employees and is available <br />upon request. <br />31 <br />