(A) The Common Council does hereby wish to provide insurance benefits to retirees of the city.
(B) The Common Council does hereby wish to limit insurance benefits by establishing rules as follows:
(1) Any city employee with 20 years of service at age 55; any Public Safety Employee, (Police or Fire) with 20 years of service at age 52.
(2) The city shall pay a portion of premiums for retirees as set forth below:
(a) The employee shall be entitled to 65% of the premium for a single plan, if the employee chooses to participate in the group plan offered by the city at the time of retirement.
(b) The employee shall be entitled to 50% of the premium for employee and spouse, employee and children, and family.
(3) Coverage will terminate upon attainment of Medicare eligibility.
(Ord. 1997-10, passed 10-7-1997; Am. Ord. 2007-18, passed 12-20-2007; Am. Ord. 2021-09, passed 3-16-2021)