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MEMORANDUM OF UNDERSTANDING Between City of Roseville And Minnesota Teamsters Public and Law Enforcement Employee's Union, Local No. 320 This MEMORANDUM OF UNDERSTANDING provides by mutual agreementbetween the Union and the City, all eligihle members of Local #43 will participate in the Minnesota State RetirementSystem Post Employment Health Care Savings Plan (HCSP) established nnder Minnesota Statutes, section 352.98 (Minn. Sup�_ 2001) and as outlinedin th� Minnesota State Retirement System's Trust and Plan Documents. Payments to this plan during the 2004 calendar year and on to be provided as follows for all Minnesota Teamsters Public and Law Enforcement Employee's Union, Local No. 320: 2004 CALENDAR YEAR ONLY: Annually Accrued Sick Leave Conversion will have a one time grandfathered deposit as follows: o For those eligible employees withi�i this group who had an ongoing carryover sick leave accountbalance minimum of no less than 168 hours on 12131/04, the City will contrihutethe value of 50% of the 2004 year's ar�a�ual accrued and used sick leave hours, at the employee's current rate of pay on said date of I2/31 /04. UPON CONTRACT RATIFICATION IN 2005 & THEREAFTER: Employee Bi-Weekly % of Pay: ✓ All employees will contrihute 1% of hi-weekly gross pay. Annually Accrued Sick Leave Co�version: ✓ For those eligible employees with an ongoing canyover sick leave accountbalance minimum of no less than 168 hours, at the fust of each calendar year, the City will contributethe value of 50% of the year's annual accrued and used sick leave hours, at the employee's current rate of pay, at the time of deposit. +f The conversion will take place once per year during the fust payroll cycle, for eligible sick hours acci�ec� during the previous year. Retirement Severance: � Uponretirement the City will contrihute 100% of eligihle severance pay to the employee's �TCSP account. This MEMORANDUM OF UNDERSTANDING will expire on December 31,2007, and may be modified, terminated or extended by mutual agreement of t�ot� parties as allowed by IRS regulations and MSRS contract. These details and IRS regulations regarding the HCSP may he revised, necessitatingthe revision to this agreement. The City reserves the right to modify its policy and this agreementto comply with all regulationsregardingthe plan. FOR THE CITY OF ROSEVILLE FOR TEAMSTERS LOCAL 320 Neal J. Beets City Manager Dated: �ldona Bacon, SPHR Human Resources Manager Dated: Craig Klausing Mayor Dated: Mike Golan Area Business Representative