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Citv of PeQuot Lakes Citv of Pequot Lakes Personnel Policies <br /> Title: Benefits Effective Date: [date adopted] <br /> Effective�ate(s)of,4mendment(s): <br /> SECTION 8 BENEFITS <br /> 8.1 Health and life Insurance <br /> The City will contribute a monthly amount toward group health and life insurance benefits for <br /> each eligible employee and his/her dependents. <br /> For information about coverage and eligibility requirements, employees should refer to the <br /> summary plan description or contact the City Administrator. <br /> 8.2 Retirement <br /> 8.2.1 PERA <br /> The City participates in the Public Employees Retirement Fund (PERA)to provide pension <br /> benefits for its eligible employees. The City and the employee contribute to PERA each pay <br /> period as determined by state law. Most employees are also required to contribute a <br /> portion of each pay check for Social Security and Medicare (the City matches the <br /> employee's social security and Medicare withholding). <br /> For information about PERA eligibility and contribution requirements contact the City <br /> Administrator. <br /> 8.2.2 Health Insurance <br /> For employees with at least 25 years of service with the City of Pequot Lakes who are 62 <br /> through 64 years old, choose to resign from employment with the City, and are eligible to <br /> participate in the City-provided group health insurance plan,the City will pay towards <br /> premiums under the same terms as current employees in the respective year until the <br /> retired employee is entitled to Medicare benefits. <br /> For employees with at least 15 years of service with the City of Pequot Lakes who are 62 <br /> through 64 years old, choose to resign from employment with the City, and are eligible to <br /> participate in the City-provided group health insurance plan,the City will pay fifty percent <br /> (50%) of the amount towards premiums as current employees in the respective year under <br /> the same terms as current employees in the respective year until the retired employee is ' <br /> entitled to Medicare benefits. <br /> This benefit is for the employee only and does not cover dependents. <br /> The City will provide this benefit only as long as the City is providing Group Medical <br /> Insurance benefits to all employees. � <br /> This benefit ends when a qualified beneficiary becomes covered under another group ; <br /> health plan. <br /> 16 <br />