Extracted text (via pymupdf)
4061 characters
Missi : nsquare RETIREMENT MissionSquare RHS Adoption Agreement Plan No. 801217 Resolution 5716 Exhibit A Approved as to form ___________________________________________ City Attorney ATTACHMENT A EMPLOYER VANTAGECARE RETIREMENT HEALTH SAVINGS (RHS) ADOPTION AGREEMENT Plan No. 801217: City of Chandler Employee Retirement Health Savings Plan V.C.1. Minimum Service: First day of the month following hire date or date of benefit eligibility. VI.B.1. Direct Employer Contributions 50% of Value of Employee’s Accumulated Sick Leave will vest upon either: (a) application and approval for long-term disability pursuant to Title 38 of Arizona Revised Statues (provided the employee is eligible to retire and receive a pension benefit from the applicable system), or (b) application for retirement from the City of Chandler with immediate retirement into either the Arizona State Retirement System or the Public Safety Personnel Retirement System. Employer contribution of $900 per 12-month year of City of Chandler service pro-rated for any partial year will vest upon five (5) years of service with the City of Chandler and either: (a) application and approval for long-term disability pursuant to Title 38 of Arizona Revised Statutes (provided the employee is eligible to retire and receive a person benefit from the applicable system), or (b) application for retirement with immediate retirement into either the Arizona State Retirement System or the Public Safety Personnel Retirement System. Employer contribution of $15.00 per pay period will vest upon the death of the employee while actively employed by the City of Chandler for any amount of time or upon termination of employment for any other reason after five years of service with the City of Chandler. Between March 1, 2006 and December 31, 2007 certain employees were authorized to and did voluntarily contribute $15.00 per pay period to the Retirement Health Savings Plan. All such contributions and earnings are 100% vested at all times. VIII. Forfeiture Provisions Forfeitures based on not achieving vesting as outlined in Section VII.A. will revert back to the City of Chandler. Participant’s account assets which revert to the Employer in accordance with Section VIII following the Participant’s death and the death of the Participant’s surviving spouse and all eligible dependents, if any, will be redirected by the City to the Trust to be reallocated on an equal dollar basis among all Plan Participants. Amended and Restated Plan: July 2023 ATTACHMENT A Plan No. 801217: City of Chandler Employee Retirement Health Savings Plan Page 2 IX.B. Termination prior to general benefit eligibility: A Participant who separates from service of the Employer prior to retirement will be eligible to receive benefits: Upon attainment of age 50 as limited by Section VII. IX.C. A Participant who becomes total and permanently disabled . . . For purposes of this section, “totally and permanently disabled” means: After completion of five (5) years of service as an employee of the City of Chandler, if prior to separation or within 180 days of separation from the City of Chandler the employee is: (1) approved for long-term disability benefits through the Arizona State Retirement System pursuant to Title 38 of Arizona Revised Statutes; (2) approved for a disability retirement through the Public Safety Personnel Retirement System; or (3) qualifies for benefits under any Long Term Disability policy to which the City of Chandler contributes. Note Regarding Section XI. Forfeitures based on not achieving vesting as outlined in Section VII.A. will revert back to the City of Chandler. Participant’s account assets which revert to the Employer in accordance with Section VIII following the Participant’s death and the death of the Participant’s surviving spouse and all eligible dependents, if any, will be redirected by the City to the Trust to be reallocated on an equal dollar basis among all Plan Participants. Amended and Restated Plan: July 2023