|
| |
Post-Retirement Health Care
Savings Plan Accounts
 (PRHCSP Info)
Language in our contract
mandates that Wellness Pay be deposited in a Post Retirement
Health Care Savings Account. For teachers on pay level 18 and above, Wellness
Pay contributions are matched by the District - also into your PRHCSP account.
Beginning in
January, 2005, severance pay is also deposited into the PRHCSP.
Here is the language from the contract.
Section 15.3 Plan B-
Wellness Pay Post Retirement Health Care
Savings (PRHCSP) Contributions:
Subdivision 15.3.1 Mandated Employee
Contributions:
Plan B teachers can accrue up to seventy (70) days of accumulative
leave (plus the 10 days credited at the beginning of each school
year). At the end of each school year, any Plan B teacher who
has accrued more than seventy (70) accumulative leave days will
have such days in excess of seventy (70) purchased by the District
at a rate of .30 times the teacher's current daily rate of pay.
The District will purchase such days at the end of the school
year, by depositing these Wellness dollars directly into the teacher's
PRHCSP account administered in accordance with Minn. Statute 352.98.
Plan B teachers will be permitted
to accrue up to one hundred (100) days of accumulative leave by
notifying the District's Human Resources Office, in writing, by
June 1 of any year, after seventy (70) days have been accrued.
In this event the District will purchase days in excess of one
hundred (100) at a rate of .30 times the teacher's current daily
rate of pay. The District will purchase such days at the end of
the school year, by depositing these Wellness dollars directly
into the teacher's PRHCSP account administered in accordance with
Minn. Statute 352.98.
Subdivision 15.3.2 Employer Matching
Contributions:
Beginning with the 2002-2003 school year, the District will match
all Wellness Pay PRHCSP contributions described in 15.3.1, for
those teachers on Pay Level 18 and above. These matching contributions
will also be deposited into the teacher's PRHCSP account administered
in accordance with Minn. Statute 352.98.
For information regarding how your individual PRHCSP account works,
please click here.
|
