Laserfiche WebLink
Special City Council Meetrng <br />July 27, 2004 <br />Page 5 <br />under a policy whereby they will be entitled to participate in the City's health <br />insurance program which is in affect at their retirement, if they bear the full <br />cost of that coverage and should be given notice to that affect when they are <br />hired. <br />Councilman Guest said, secondly, said they discussed the Rule of 85 and the <br />Rule of 80. He said the minimum number of years of service to be covered by <br />paid health insurance is twenty (20) years. He explained that an employee <br />qualifies under the Rule of 80 when their age and their years of service equal <br />eighty (80). <br />City Attorney Schenk reminded the Council that any recommendation that was <br />approved would have to be researched because of State Laws concerning rights <br />of retirees and their benefits. <br />Councilman Bell said that he wasn't sure these recommendations would <br />completely turn around the current system, which is in trouble, but it was <br />certainly a step in the right direction. <br />Councilman Wilson suggested giving them a package deal of "X" amount of <br />dollars that could be used to pay part of the benefits and extend the employees <br />time out until age sixty-five (65). <br />Councilman Poston said they were doing something similar to that at Kimberly <br />Clark. He explained that plan had an equation of years of service and age plus <br />"X" amount of dollars that you could choose how to use for your medical <br />insurance. <br />Councilman Wilson felt like the reason the Council was at a crossroads now <br />was because of when the resolution was put into effect, the insurance was only <br />$147.00 per month and now it is $500.00. He indicated over a period of time, <br />this decision will be taking a huge chunk out of the budget. He felt like, in <br />addition to the Rule of 80, there ought to be a limit put on it. Councilman <br />