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2016 CAFR
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2016 CAFR
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CTTY OF ROSEVILLE, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2016 <br />Note 5 OTHER POST-EMPLOYMENT BENEFITS <br />A. Plan Description <br />In addition to providing the pension benefits described in Note 5, the City provides post-employment <br />health care benefits (as defined in paragraph B) for retired employees and police and firefighters disabled <br />in the line of dury, through a single-employer defined benefit plan. The term Plan refers to the City's <br />requirement by State Statute to provide retirees with access to health insurance. The OPEB plan is <br />by the City. The authority to provide these benefits is established in Minnesota Statutes Sections 471.61 <br />Subd. 2a, and 299A.465. The benefits, benefit levels, employee contributions and employer contributions <br />are governed by the City and can be amended by the Ciry through its personnel manual and collective <br />bargaining agreements with employee groups. The Plan is not accounted for as a trust fund, as an <br />irrevocable trust has not been established to account for the plan. The Plan does not issue a separate <br />financial report. <br />B. Benefits Provided (Continued) <br />Retirees <br />The City is required by State Statute to allow retirees to continue participation in the City's group <br />health insurance plan if the individual terminates service with the City through service retirement <br />or disability retirement. Employees who satisfy the rule of 90 or attain age 55 and have <br />completed 10 years of service at termination can immediately commence medical benefits. <br />Retirees may obtain dependent coverage while the participating retiree is under age 65. Covered <br />spouses may continue coverage after the retiree's death. The surviving spouse of an active <br />employee may continue coverage in the group health insurance plan after the employee's death. <br />All health care coverage is provided through the City's group health insurance plans. The retiree <br />is required to pay 100% of their premium cost for the City-sponsored group health insurance plan <br />in which they participate. The premium is a blended rate determined on the entire active and <br />retiree population. Since the projected claims costs for rerirees exceed the blended premium paid <br />by retirees, the retirees are receiving an implicit rate subsidy (benefit). The coverage levels are <br />the same as those afforded to active employees. Upon a retiree reaching age 65 years of age, <br />Medicare becomes the primary insurer and the City's plan becomes secondary. <br />Disabled �olice and firefi _ghter <br />The City continues to pay the employer's contribution toward health coverage for Police or <br />Firefighters disabled in the line of duty per Minnesota Statute 299A.465, until age 65. Dependent <br />coverage is included, if the dependents were covered at the time of the disability. The January 1, <br />2016 to December 31, 2016 monthly premiums paid for Police or Firefighters disabled in the line <br />of duty are: <br />Plan <br />Health Partners Choice <br />Health Partners National One <br />Heath Partners Empower High Deducti�ble <br />74 <br />Smgle Two Person Family <br />$ 567 $ 1,110 $ 1,543 <br />$ 542 $ 1,063 $ 1,473 <br />$ 394 $ 781 $ 1,063 <br />
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