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<br /> <br />Item 8.2. <br /> <br />MEMORANDUM <br />, <br /> <br />TO: Mayor and City Council <br /> <br />FROM: Lori Johnson, Finance and Adlministrative Services Director <br /> <br />DATE: June 6, 2005 <br /> <br />SUBJECT: Consider Patrol Union Healtll1 Care Savings Plan <br />I <br /> <br />The Patrol Union contract approved by the Counc~ for the years 2005 and 2006 requires <br />that a Post Retirement Health Care Savings Plan bt established for the Union. Since <br />January, 2005, Union members have been contributing $25.00 per month to be placed in the <br />plan once a vendor was selected. <br /> <br />Lauren Wipper, Human Resource Representative, and I evaluated both the ICMA and <br />Minnesota State Retirement System (MSRS) plans. I Both plans meet all of our requirements; <br />however, the two differ in several ways including ll11vestment options, administration fees, <br />and payout provisions. Union Steward Dale Olmscheid worked with the Union members to <br />select the plan that best fit their needs. The Unioni has selected the MSRS plan. <br /> <br />Action Requested <br /> <br />The Council is asked to authorize the City to enteriinto a Health Care Savings Plan with the <br />Minnesota State Retirement System (MSRS) for th~ Patrol Union effective immediately. <br /> <br />S:\Council\Lori\200S\Union Health Care Savings Plan.doc <br />