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21 <br /> <br />B. In the fall, when transitioning from PDT to PST, employees working during the <br />one-hour transition will be paid for all hours worked, including one hour of overtime <br />at the overtime rate for the extra hour worked in excess of their regularly-scheduled <br />shift, as a result of the time change. <br /> <br />30.3 Life Insurance. The City shall maintain in effect employer provided Term Life Insurance <br />with AD&D in the amount of fifty thousand dollars ($50,000.00) for active full-time <br />employees. The insurance provider shall be “A-rated”, unless the parties specify <br />otherwise. <br /> <br />30.4 Deferred Compensation. Effective January 1, 2020, the City will match an employee’s <br />contribution to the City’s Section 457 Deferred Compensation plan up to a maximum of <br />1% of employee’s base pay. Effective January 1, 2021, the City will match an employee’s <br />contributions up to a maximum of 1.75% of base pay. <br /> <br />In addition, the City will directly contribute to each employee’s deferred compensation <br />account an amount equal to the City’s contribution formula to Long Term Disability (LTD) <br />insurance for other employee groups. In order to receive the City contributions, an <br />employee must be enrolled in the City’s deferred compensation plan. <br /> <br />Effective January 1, 2020, or as soon thereafter as administratively feasible, the City shall <br />put out a request for proposals from fiduciaries to manage the City’s deferred <br />compensation plan. <br /> <br />30.5 Retiree Medical Trust. Employees covered by this MOU shall participate in a retiree <br />medical expense reimbursement plan administered by PORAC Retiree Medical Trust. The <br />plan is designed to permit employees to set aside money to be used to pay for health <br />insurance expenses in retirement, pursuant to the rules of the plan. The Trust must meet <br />Internal Revenue Code requirements that allow contributions to be made on a pre-tax <br />basis. The Trust shall be and remain separate and apart from any City health insurance <br />funding program. <br /> <br />No City contributions shall be made to the Trust. Effective February 1, 2020, employees <br />covered by the MOU shall contribute to the plan $300 per month, which will be deducted <br />pre-tax from the employees’ salary and remitted monthly to the Trust, accompanied by a <br />list of the contributing employees. There shall be no employee election to take the amount <br />in cash. <br /> <br />Participation in the Trust shall be the complete and sole responsibility of the Association. <br />The Association shall be responsible for payment of all costs and fees associated with the <br />set-up and administration of the Trust. The City shall not have any involvement in the <br />Trust’s design, its administration or in the benefits paid. The Association shall indemnify, <br />defend, and hold harmless the City, its officers, elected officials, and employees from and <br />against any and all liability, loss, claims, expenses, and costs arising out of or in <br />connection with the Trust, Trustees, or Trust administrator’s failure to comply with any of <br />its obligations and fiduciary responsibility. If any of the provisions of the Trust documents <br />or contract between the Association and the Trust program are inconsistent with the term <br />of the MOU, the terms of the MOU will prevail. <br /> <br />89