14-First reading, deliberate and possibly act on an Ordinance authorizing the offering of health benefit insurance coverage to city retirees

Home Browse Search

b. The employee has reached the age of sixty (60) years and has completed at least five (5) full years of creditable service with the City of Paris or other municipalities participating in the same retirement system with the City of Paris; or c. The employee has become eligible for service retirement under any other applicable provision of Title 110b, Section 61.001 et seq., of the Revised Civil Statues. (c) That for Retirees who are not Medicare eligible and their dependents, the City will offer at least two choices of inedical coverage: (1) The same medical plans offered to active employees at a percentage of the employee rate established by TML IEBP, with varying other rates for dependent coverage, or (2) The Retiree Continuum of Coverage Plan at the rate established by TMLIEBP. (d) That for retirees who are Medicare eligible, the City will offer a fully insured Medicare Supplement policy through TML IEBP at a rate to be established by TML IEBP. (e) That the City will contribute a monthly amount toward the cost of retiree medical coverage in an amount to be determined and set by the City Council as part of the annual budget process; provided, however, that employees who retire on or after October 1, 2004, and begin receiving retirement payments from either the Firemen's' 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. (o That the City's contribution for retirees is for medical coverage only, and does not include dental, vision, or long term disability coverage. (g) 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 3. 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. w ~0 i a_36