Page | 70 457 RETIREMENT SAVINGS PLAN 708 All regular employees may elect to participate in the City’s Section 457 Deferred Compensation Plan. Contributions are made by the employee on a pre-tax basis, and contributions and earnings are not subject to state and federal tax until the funds are withdrawn. Employee contributions are subject to annual maximum limits established by the IRS. Initial enrollment/deductions in the deferred compensation plan take effect on the first payroll in the month following the date the form was signed (providing the form is received timely). Subsequent increases or decreases in contributions also take effect on the first payroll in the month following the date the form was signed (providing the form is received timely). Requests to discontinue contributions will take effect during the next available pay period. Complete documentation and information on the deferred compensation plans is available from the Human Resources Department. GROUP TERM LIFE INSURANCE PROGRAM 709 All employees covered under the KPERS program are eligible to receive term life insurance benefits equaling one and onehalf (1 ½) times the employee’s base pay. Additional details about the program can found at: www.kpers.org. In addition to the KPERS program, the City’s group term life insurance program covers eligible employees who work a minimum of 20 hours per week on an on-going basis. There is no cost to the employee for this coverage. Employee Group Term-Life Benefit Exempt/Management Employees $10,000 Police/Sworn Officers $25,000 KPERS DISABILITY INSURANCE 710 Active KPERS members are eligible for disability benefits on their first day of employment. The premium cost of this benefit is included in the employer’s and employee’s KPERS contributions. If qualification requirements are met after the elimination period, employees are eligible for 60 percent of their annual salary. The KPERS disability benefits are defined completely in the Summary Plan Description available at www.kpers.org. Provisions of state law and administrative regulations have control over any representations in these policies and procedures. VOLUNTARY BENEFIT PROGRAMS 711 All regular employees that work a minimum of 30 hours per week on an ongoing basis are eligible to participate in the city-sponsored voluntary benefit programs. These include: Voluntary Life Plan; Voluntary AD&D Plan; Short-Term Disability Plan; Critical Illness Plan; and Accident Plan. The premium costs for these programs are paid by the employee through payroll deduction on an after-tax basis. EMPLOYEE ASSISTANCE PROGRAM (EAP) 712 The city’s EAP provides confidential professional assistance to help employees and their family members resolve problems that affect their personal lives and/or job performance. Problems commonly handled include marital difficulties, parentchild relationships, alcoholism, drug addiction, stress, etc. The program is confidential and can be used by calling professional counselors directly. There is no cost to the employee for this benefit. SEVERANCE PAY PROGRAMS 713 Employees of the City, who are not covered by the terms of a negotiated memorandum of understanding, may be eligible to receive severance pay when their employment is involuntary terminated because of a permanent job elimination or
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