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in Exhibit B to the MOU) modified to include the word "Lead" in front of their <br />title. <br />Article XI, Section 11.6 is amended as follows: <br />11.6 Medical Retirement Subsidy Plan. <br />A. Based on the first payroll period in October, 2001 and no later than <br />October 31 st each year thereafter for the term of this Agreement, the City <br />shall contribute to a fund an amount of money equal to one-half of one <br />percent (.5%) of the bargaining unit's salary base for the purpose of <br />providing a retiree health insurance subsidy plan. Eligibility for and the <br />specific payments made to members of the bargaining unit pursuant to this <br />plan shall be designated at the sole discretion of SEIU. The plan shall be <br />administered by the City, at no cost to the Union or its members pursuant <br />to the written directives of SEIU. The funds contributed by the City will <br />be maintained in such a manner as to insure that the funds are invested in a <br />reasonably secure plan that bears a reasonable rate of interest/growth <br />given current financial markets. For purposes of this Agreement, <br />investments made pursuant to the then current Statement of Investment <br />Policy for the City of Santa Ana, shall be deemed to meet the requirements <br />of this section. This program is for medical insurance premium reduction <br />only and will be implemented by February 1, 2002 for an employee <br />retiring after July 1, 2001. If an employee retires between July 1, 2001 <br />and February 1, 2002, he or she will be eligible to participate in said plan; <br />however, in no event, will he or she be eligible to utilize this program until <br />February 1, 2002. Additionally, in no event shall said employee(s) be <br />eligible for retroactive medical premium reduction assistance prior to <br />February 1, 2002. <br />B. Effective July 1, 2004, July 1, 2005, and July 1, 2006, respectively, the <br />City's contribution toward the Medical Retirement Subsidy Plan shall <br />increase by 0.1% each year under the conditions specified in Section 11.6 <br />A above. <br />C. Effective October 1, 2007, the City's contribution toward the Medical <br />Retirement Subsidy Plan shall increase by 0.2% under the conditions <br />specified in Section 11.6 A above. With this contribution amount, the <br />City's contribution toward the SEIU Medical Retirement Subsidy Plan <br />shall equal 1.0% of the bargaining unit's salary base (including <br />assignment pays). <br />D. Effective October 1, 2008, the City's contribution toward the Medical <br />Retirement Subsidy Plan shall increase by 0.4% under the conditions <br />specified in Section 11.6 A above. With this contribution amount, the <br />3