(A) The city hereby elects to provide health benefits coverage to its retirees through Texas Municipal League Group Benefits Risk Pool under the Pool’s interlocal agreement.
(B) The city hereby adopts the following definition of retiree for the purpose of this section:
RETIREE. Having been employed and participated in the health insurance plan for ten years by the city, being 62 years of age, and is eligible for benefits.
(C) The city hereby adopts the following benefits plans to be provided to its retirees through the Texas Municipal Group League Benefits Risk Pool: The medical plan adopted for retirees and their dependents and Retiree Life.
(D) The interlocal agreement in effect between the City of Wake Village and the Texas Municipal League Group Benefits Risk Pool provides that the Board of Trustees may adopt rules and regulations. The rules and regulations of the Texas Municipal League Group Benefits Risk Pool allow the participating member entity to provide retiree medical coverage at the same contribution as charged to active employees or to select a contribution level which is 150% of the active employee contribution. The City of Wake Village elects to have the retiree medical contribution be 150% of the active employee contribution for as long as the TML-GBRP offers this rate structure for retiree medical coverage. The City of Wake Village elects to pay 100% of the employee only medical coverage for retirees until the retiree becomes eligible for Medicare or reaches age 65. Other coverages will be as established annually by the Texas Municipal Group Benefits Risk Pool Board of Trustees.
(E) This section will only apply to individuals retiring in good standing after its effective date. For individuals retiring after the effective date of this section to qualify, they must enroll for this coverage within 30 days of their retirement.
(F) This section may be repealed or modified at any time, but will remain in effect for any employee retiring while it is in effect.
(Ord. 15-02, passed 12-17-2002)