In order for a dental plan premium subsidy to be provided for a retiree, the retiree must be enrolled in a dental plan administered by the Board as part of the Dental Plan Program. The dental plan premium subsidy will be provided upon the conditions set forth below in order to lessen or defray part or all of the cost of such dental plan to such eligible retiree, as hereinafter defined.
(a) Maximum Dental Plan Premium Subsidy. The maximum subsidy shall be the amount provided by the Council for active employees. The Board, in its discretion, may, by resolution, increase or decrease the monthly amount of dental subsidy to reflect changes in the subsidy provided by the City for active employees, or to offset any increases or decreases in the level of benefits or the cost thereof, as the result of changes in existing benefits or the addition of newly created benefits by federal or state funded programs.
(b) Eligibility for Dental Plan Premium Subsidy. Those retirees who are receiving a service retirement allowance or a disability retirement allowance, have at least ten (10) years of Health Service Credit as members, and are age fifty-five (55) years or older, shall have paid to their approved dental plan carrier on their behalf the following amount:
(1) Basic Monthly Subsidy. For ten (10) years of Health Service Credit, forty percent (40%) of the maximum monthly dental plan premium subsidy amount established pursuant to the provisions of Subsection (a).
(2) Additional Monthly Subsidy. For more than ten (10) years of Health Service Credit, add three percent (3%) of the maximum monthly dental plan premium subsidy to the Basic Monthly Subsidy for each whole year of Health Service Credit in excess of ten (10) years.
(3) Maximum Monthly Subsidy. No retired employee shall have paid to his or her dental plan carrier an amount exceeding the maximum monthly amount established pursuant to Subsection (a) or receive an amount in excess of the premium of the plan in which they are enrolled.
(4) Dependent Monthly Subsidy. There is no dental plan premium subsidy for dependents.
(c) Payment Limitation. In no event shall the subsidy provided in this section, when added to any other dental plan subsidy provided by the Department of Water and Power or the Fire and Police Pension Plan, exceed the maximum subsidy established in Subsection (a).
SECTION HISTORY
Added by Ord. No. 182,629, Eff. 7-25-13.