2005-014-ORD AUTHORIZING OFFERING OF HEALTH BENEFITS COVERAGE TO CITY RETIREES

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(I) The same medical plan that is offered to active employees at 209.7% of the employee rate established by the City Council, with varying other rates for dependent coverage, or (2) The Retiree Continuum of Coverage Plan at the rate established by TMP IEBP. Section 5. That for retirees who are Medicare eligible, the City will offer a fully insured Medicare Supplement policy through TML IEBP. Section 6. That the City will contribute a monthly amount toward the cost of retiree medical coverage of up to $400.00 per month; provided, however, that employees who retire on or after October 1, 2004, and begin receiving retirement payments from either the Firemens' Pension Fund or the Texas Municipal Retirement System must meet a Rule of 80 in order for the City to share in any of the cost of health insurance. For these purposes, the Rule of 80 means that the number of years of service plus the employee's age must equal 80 before the City will share in the cost of the retiree's insurance premiums. Provided further, that employees who are hired on or after October 1, 2004, and later begin to receive retirement payments from the Firemen's Pension Fund or the Texas Municipal Retirement System, shall be responsible for the full cost of their health insurance premium upon retirement, without any contribution by the City. Section 7. That other fully funded life coverages will be as offered annually by the TML IEBP and elected by the City at the cost set by TML IEBP. Section 8. That this ordinance will apply to individuals who have retired or are retiring after its effective date. For individuals retiring after the effective date of this ordinance to qualify, they must enroll for this coverage within thirty (30) days of their retirement. Section 9. That this ordinance may be repealed or modified at any time, but will remain in effect for any employee retiring while it is in effect. Section 10. That the City Secretary is hereby ordered to enter a copy of this Ordinance in the City minutes. Section 11. That all existing City ordinances or resolutions in conflict with the provisions of this Ordinance are repealed to the extent of the conflict, and specifically Resolution No. 90-089, adopted October 15, 1990, and Resolution No. 200-057, adopted April 10, 2000, are hereby in all things repealed. Section 12. That it is hereby officially found and determined that the meeting at which this Ordinance was considered was open to the public as required and that public notice of the time, place, and purpose of said meeting was given as required by the Open Meetings Act, Chapter 551 of the Texas Government code.