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CITY OF MOORHEAD POLICIES AND PROCEDURES
TITLE:  Post-Retirement Health Care Savings Plan
SECTION:   3.20
DATE:  June 18, 1990
 
LAST REVISED DATE:  May 3, 2021
 
 
  1. PURPOSE

    2. Minnesota Statute 352.98 authorizes the Minnesota State Retirement System (MSRS) to establish and administer a Post-Retirement Health Care Savings Plan (PRHCSP), through which public employers and employees may save to cover Post-Retirement health care costs. Participation is mandatory for all members of the Non-represented Employee Groups.

  2. NON-REPRESENTED EMPLOYEE GROUPS

    3. The Non-represented Employee Groups shall participate in this program based on retirement as outlined below:

  1. Contribution:
    1. Current Employees
      1. With less than 10 years of service are required to contribute 2% per pay period.
      2. With ten (10) years or more of service are required to contribute 3% per pay period.
    2. Upon Retirement:
      1. 100% of unused vacation and applicable exit pay will be contributed to the Post-Retirement Health Care System Savings Plan (PRHCSP).
    3. No contributions will be made during periods of Family & Medical Leave, Military Leave, or Unpaid Leave.

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