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<br />insurance plans shall remain eligible for this benefit. <br />Members covered by this Agreement who participated in the <br />Medical Retirement Subsidy Plan with the Santa Ana Firemen's <br />Benevolent Association (SAFBA) and have promoted into the <br />Fire Management Association (FMA) shall retain his/her <br />investment with the SAFBA's Medical Retirement Subsidy and <br />continue to receive benefits in accordance with the SAFBA <br />Medical Retirement Subsidy Plan. The plan shall be <br />administered by the City, at no cost to the Association or <br />its members pursuant to the written directives of the <br />Association. The funds contributed by the City will be <br />maintained in such a manner as to insure that the funds are <br />invested in a reasonably secure plan that bears a reasonable <br />rate of interest/growth given current financial markets. <br />For purposes of this Agreement, investments made pursuant to <br />the then current Statement of Investment Policy for the City <br />of Santa Ana, shall be deemed to meet the requirements of <br />this section. This program is for medical insurance premium <br />reduction only and will be implemented by February 1, 2002 <br />for an employee retiring after July 1, 2001. If an employee <br />retires between July 1, 2001 and February 1, 2002, he or she <br />will be eligible to participate in said plan; however, in no <br />event, will he or she be eligible to utilize this program <br />until February 1, 2002. Additionally, in no event shall <br />said employee(s) be eligible for retroactive medical premium <br />reduction assistance between the date of retirement and <br />February 1, 2002. <br /> <br />Effective July 1, 2004 and July 1, 2005, respectively, the <br />City shall contribute an amount of money equal to one <br />percent (1%) of the bargaining unit's base salary, including <br />pay additives, for the purpose defined herein. <br /> <br />Effective July 1, 2006 and July 1, 2007, respectively, the <br />City shall contribute an additional three-quarters of one <br />percent (.75%) for a total of 1.75% of the bargaining unit's <br />base salary, including pay additives, for the purpose <br />specified herein. <br /> <br />12.8 Vision Care Insurance. As soon as practicable, the City <br />agrees to implement through payroll deduction, a non- <br />participatory vision care plan through Eye Med. This plan <br />is voluntary on behalf of the employees and shall be fully <br />funded by the participating employees. <br /> <br />49 <br />