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3. Employees desiring to retain vests at the time of severance from City employment will be <br /> afforded the opportunity to do so by reimbursing the City for the residual value thereof, <br /> said residual value to be determined by dividing the purchase price by the manufacturer's <br /> recommended replacement interval, and multiplying that amount by the residual <br /> percentage of the manufacturer's recommended replacement interval for the vest. <br /> Employees are under no obligation to elect to retain vests and reimburse the City. A <br /> maximum of one-fourth(1/4)of the bargaining unit membership shall be provided vests in <br /> any given fiscal year. <br /> ARTICLE 16 <br /> OTHER BENEFITS <br /> Section 1. The City shall provide group insurance for each employee. The City shall <br /> also provide group life insurance in the amount of$25,000 for each employee at no cost to the <br /> employee. <br /> Section 2. Effective January 1, 2022, employees shall be enrolled in the City's insurance <br /> benefit plan with coverages and benefits as described in Exhibit H of this Agreement. Bi- <br /> monthly(twice each month) employee contributions for all tiers of coverage are indicated below <br /> for calendar year 2021. Employee premiums for 2022 will increase or decrease at the same rate <br /> as the overall premium for 2022,but employee premiums for 2022 shall not increase more than <br /> 10% over the 2021 premium. <br /> PJ 1005 PJ1009 PE4337 <br /> Single Coverage $36.50 $15.00 $5.00 <br /> Single+ Spouse $77.00 $36.00 $18.50 <br /> Single+Children $73.50 $35.00 $18.00 <br /> Family Coverage $114.00 $53.50 $27.00 <br /> Effective January 1, 2022,monthly employee contributions for all tiers of the City's insurance <br /> benefit plan shall change by the same percentage(increase or decrease) as the plan premium <br /> percentage change effective January 1 of that year, as determined by the City's Risk <br /> Management Division; except that no annual increase in monthly employee contributions shall <br /> exceed ten percent(10%). Changes in employee contributions shall be rounded to the nearest <br /> whole dollar.Notice of the plan premium percentage change shall be provided to the Union, and <br /> upon written request, documentation substantiating the percentage change shall be provided to <br /> the Union at the time of plan renewal. <br /> The city and the union both agree that the failure of the city to not provide health insurance to an <br /> employee who elects to opt out shall not constitute a violation of this Agreement. Employees <br /> covered by this Agreement shall be allowed to opt out of, or elect not to participate in,the city's <br /> health insurance plan. Employees making such an election shall be required to show proof of <br /> 26 <br />