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CITY OF MT. PLEASANT
2003 FRINGE BENEFIT PACKAGE
Professional, Administrative, Confidential and Technical (PACT) Employees1. Comprehensive health insurance and prescription coverage are provided to the employee and his/her eligible dependents at no cost. The prescription plan requires a 20% employee co-pay, which is a minimum of $6.00 up to a maximum of $12.00, or the actual cost of the drug (whichever is less). The co-pay applies to all brand name, generic, or mail order prescriptions. When using mail order, an employee pays one co-pay for a ninety-day supply of a prescription. Coverage begins the first day following 31 days of employment. Spousal access, which defines the spouses and possibly the children's eligibility to participate in the City's health insurance, is part of the medical benefits enrollment process.
2. Dental insurance is provided for the employee and may be purchased for any eligible dependents through the City's Cafeteria Health Care Plan with pre-tax dollars. This benefit becomes effective the first day following 31 days of employment.
3. Vision insurance may be purchased through payroll deduction for the employee and any eligible dependents and is effective the first day following 31 days of employment.
4. All PACT employees are provided with life insurance equal to two times their annual salary. This benefit is effective the first day following 30 days of employment. Up to three times the employee's annual salary can be purchased through the Cafeteria Plan.
5. Flexible Spending Accounts - dependent care and medical reimbursement accounts are available for the employee's use through the Cafeteria Plan on a pre-tax basis.
6. Holidays - 8.5 per calendar year.
7. Vacation - accrued on a monthly basis at a rate of 10 days per year and is available for use following accumulation.
8. Sick Leave - accrued on a monthly basis at a rate of 12 days per year and is available following accumulation.
9. Police Administration have the opportunity to select which Retirement plan they would like to enroll in. The choices are as follows:
1. Retirement benefits are provided through MERS (Municipal Employees Retirement System. PACT employees are provided with the B-3 plan (multiplier of 2.25%). A 55-20 waiver, which allows employees to retire with full pension benefits at age 55 with 20 years of service, is part of the pension program. The pension is based on a three-year final average compensation (FAC); vesting is obtained following six years of employment, and employees contribute 4% of their wages to the pension program. A B-4 (multiplier of 2.50% will be instituted on July 1, 2003)
2. Retirement benefits maybe provided through Act 345, Public Acts of 1937. The monthly pension benefit shall be calculated at 2.75% for the first 25 years of service or age 50, whichever occurs last and 1% for each year thereafter. The maximum allowable benefit shall not exceed 75% of the final average compensation. Employees provide a 5% contribution to the system, effective January 2003; employees will provide a 4% contribution to the system.
3. Retirees who qualify for and are in receipt of retirement benefits from the City of Mt. Pleasant Fire and Police Retirement System (Act 345) shall be entitled to continue employee-only coverage in the hospital, medical and surgical group plan in accordance with the POAM Agreement. All active employees contribute 2% of their gross wages to the Fund. The City of Mt. Pleasant Police and Fire Retiree Health Care Fund shall pay the cost of the required premiums in full. Retirees receiving health care benefits from the Fund may purchase, at Retiree's sole cost, coverage for his or her eligible spouse and/or eligible dependent(s) as outlined in the POAM Agreement.
10. Personal Leave - prorated the first year of employment and in succeeding years four days are provided in accordance with PACT rules.
11. Two deferred compensation plans (457 IRS Plans) are offered for employee voluntary participation. The City matches an employee's contribution up to 1% of their annual salary. The matching program is available only to those employees who participate in the Nationwide Deferred Compensation Program.
12. Tuition reimbursement is provided to a maximum of 10 credit hours per year for adult education or university courses in accordance with PACT Policies.
13. Employees are provided a $300 wellness benefit every year. The benefit is provided to family members, but cannot exceed $300/family.
14. Additional wellness activities and incentives are available to employees.