SANTA ANA POLICE MANAGEMENT ASSOCIATION (PMA) - 2012

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so required by the terms and conditions of said term life insurance policy. In the event any such employee is determined to be ineligible for said insurance coverage, the City will attempt to provide as much coverage as may be obtained at reasonable cost without having to provide evidence of insurability. 12.5 The City shall retain the right to change health, dental and life insurance carriers, administer the insurance benefits provided thereunder, and select and/or change any excess or supplemental insurance carriers as a part of any self-insurance plan during the term of this Agreement, provided that employees covered by this Agreement continue to receive equivalent benefits and provided that the parties have met and conferred before the changes have been made. 12.6 Option to Redesignate Certain Contributions. Affected employees shall have the option of redesignating coverage under any City-sponsored group, medical, dental, long-term disability, or life insurance plan. Effective January 1, 2006, the amount allowed for redesignation of dental coverage is equal to the amount of City contribution (i.e. $90/month in 2006, $100/month in 2007, and $110/month in 2008). The amount allowed for redesignation of medical coverage is equal to the amount of City contribution toward medical premiums for either the "employee-only" or "family" tier, respectively, during the term of the Agreement. The amount allowed for redesignation of long-term disability or life coverage, respectively, is equal to the amount actually paid by the City on behalf of the employee. The amounts referenced above may be applied to the options within the cafeteria plan. If two City employees are married, at least one of the two employees must maintain insurance coverage. The amount of money that can be redesignated by the employee waiving coverage is limited to the value of the "employee-only" level within each type of insurance. In the event the City experiences an adverse impact in rates due to utilization of the redesignation option, the City and PMA agree to meet and confer over the impact. 12.7 Medical Retirement Subsidy Plan. Effective July 1, 1998, July 1, 1999, July 1, 2000, and July 1, 2001, respectively, the City contributed an amount equal to one-half of one percent (.5%) of the bargaining unit's salary base for the purpose of providing a retiree health insurance subsidy plan. The specific payments made to members of the Association pursuant to this plan shall be designated at the sole discretion of the Association. The plan shall be administered by the City, at no cost to the Association or its members, in such a manner as to insure that the funds are invested in a reasonably secure plan that bears a reasonable rate of interest/growth given current financial markets. For purposes of this Agreement, investments made pursuant to the then current Statement of Investment Policy for the City of Santa Ana, shall be deemed to meet the requirements of this section. Effective June 30, 2002, this .5% contribution is eliminated. 36