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d) The Finance Human Resources Department generally administers the <br /> City's 401A plan which is offered through ICMA. All plan information can <br /> be obtained either through the Finance Human Resources Department or <br /> by contacting the ICMA directly. Employee account information can be <br /> accessed by the employee either on-line or via telephone. The Human <br /> Resources Department anal the Finance Department b-ave has information <br /> regarding FRS contact numbers and on-line internet addresses. <br /> 3) Voluntary ICMA 457 Deferred Compensation Plan <br /> The City offers a voluntary Section 457 tax deferred retirement savings program <br /> through the ICMA. This plan is available to eligible employees who wish to <br /> supplement future retirement income. The plan allows employees to put aside a <br /> portion of their earnings, up to the current federal limit, each pay period into an <br /> account for their retirement and reduce the amount of earnings that is currently <br /> taxable. The Finance Human Resources Department administers this program <br /> through the ICMA. <br /> 4) Voluntary ICMA Roth IRA Plan <br /> The City offers a voluntary Roth IRA plan. This plan is available to eligible <br /> employees who wish to supplement future retirement income. The plan allows <br /> employees to put aside a portion of their earnings, up to the current federal limit, <br /> each pay period into an account for their retirement. The Human Resources <br /> Department administers this program through the ICMA. <br /> RETIREE HEALTH INSURANCE: <br /> 1) Eligibility: <br /> a. Eligible full-time employees of the City that are participants in the City's <br /> Health Insurance plans (the Plan) at the time of their retirement shall be <br /> afforded the option of continuing to participate in the Plan(s) as a <br /> Retiree.A"Retiree" is defined as an employee who voluntarily withdraws <br /> from one's position and qualifies as a retiree under Section 112.0801(2), <br /> Florida Statutes. The Retiree and any eligible dependent(s) may <br /> continue participation under the Plan(s) effective the first day of the <br /> subsequent month following the employee's separation of service. <br /> Retirees can elect to continue coverage only for dependents that are <br /> enrolled in the Plan(s) or elect to remove the dependents. <br /> CODING: Words stricken are deletions,words underlined are additions. <br /> 503-1 Retirement Benefits Page 3 of 6 <br /> 73 <br />