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15 <br /> <br />and Declaration of Trust will serve as the governing documents. The CPF is a supplemental <br />Pension Fund authorized by Minnesota Statutes, 356.24, subdivision 1(9). <br />ARTICLE XXX — POST EMPLOYMENT HEALTH CARE SAVINGS PLAN <br />30.1 The City of Arden Hills Local 49ers employees are eligible to participate in the Minnesota <br />Post Employment Health Care Savings Plan (HCSP) established under Minnesota <br />Statutes, section 352.98 (Minn. Supp. 2001) and as outlined in the Minnesota State <br />Retirement System's Trust and Plan Documents. <br />30.2 All funds collected by the EMPLOYER (City of Arden Hills) on the behalf of the employee <br />(Public Works Local 49ers) will be deposited into the employee's Post Employment Health <br />Care Savings Plan Account through Minnesota State Retirement System. <br />30.3 All employees with 0 years to 5 years of service shall contribute 2% of pay. <br />All employees with 5 or more years of service shall contribute 4% of pay. <br />30.4 The EMPLOYER has agreed to contribute payroll deductions to the Post Employment <br />Health Care Savings Plan (HCSP) with Minnesota State Retirement Systems as <br />described below: <br />A. All City of Arden Hills Public Works Local 49ers employees who are eligible for <br />the unused sick leave severance payout, outlined in Article XXVII section 27.1 of <br />the contract, will contribute to the Post Employment Health Care Savings Plan as <br />described below: <br /> All employees who have an eligible sick leave balance upon separation shall <br />have 100% of those eligible hours converted into cash, and the dollars shall <br />be deposited into their Post-Employment Health Care Savings Account <br />(HCSP) on their final check. <br />B. All City of Arden Hills Public Works Local 49ers employees who are eligible for <br />the unused Personal Time Off (PTO) severance payout, outlined in Article XXI <br />section 21 1 of the contract will contribute to the Post Employment Health Care <br />Savings Plan as described below: <br /> All employees who have an eligible vacation (PTO) leave balance upon <br />leaving the City of Arden Hills shall have 100% of those hours converted into <br />cash and deposited into their Post-Employment Health Care Savings Account <br />(HCSP) on their final check. <br />C. In the event of the employees death, any payments owed to this employee by the <br />City of Arden Hills, may not be contributed into the Post-Employment Health Care <br />Savings Account (HCSP). Upon death of the employee, all payments owed to this <br />employee will be paid to the employees beneficiaries. <br /> <br />