2010 Benefit Information
The following applies to regular full-time and regular part-time employees. Police Officer and Police Sargeant benefits are subject to contractual agreement.
Personal Time Off (PTO) Leave (effective January 1, 2010)
The City of Golden Valley has implemented PTO leave for full-time employees who are not members of an organized bargaining unit. This policy replaces other paid leave provisions, which generally includes vacation leave and sick leave for full-time employees. PTO can be utilized for any purpose, subject only to necessary request and approval procedures consistent with City and departmental policies.
For the first six months, new employees may not utilize more than three days of paid time off. Part-time, regularly scheduled employees receive pro-rated leave benefits. Temporary and seasonal employees are not eligible for accrued leave benefits.
| Years of Service | Hours Earned each Pay Period | Annual Accrual in Days per Year |
Maximum Accrual |
|---|---|---|---|
| 0-5.99 years | 5.23 hours | 17 days | 348 hours |
| 6-10.99 years | 6.77 hours | 22 days | 408 hours |
| 11-11.99 years | 7.08 hours | 23 days | 420 hours |
| 12-12.99 years | 7.38 hours | 24 days | 432 hours |
| 13-13.99 years | 7.69 hours | 25 days | 444 hours |
| 14-14.99 years | 8.00 hours | 26 days | 456 hours |
| 15-15.99 years | 8.31 hours | 27 days | 468 hours |
| 16-16.99 years | 8.62 hours | 28 days | 480 hours |
| 17-17.99 years | 8.92 hours | 29 days | 492 hours |
| 18-18.99 years | 9.23 hours | 30 days | 504 hours |
| 19-19.99 years | 9.54 hours | 31 days | 516 hours |
| 20+ years | 9.85 hours | 32 days | 528 hours |
Floating Holiday
Employees receive one (use or lose) floating holidays per year. Floating holidays may not be used until six months of service is completed.
Regular Holidays
Employees receive 11 regular holidays per year:
- New Year’s Day
- Martin Luther King, Jr Day
- President’s Day
- Memorial Day
- Independence Day
- Labor Day
- Veteran's Day
- Thanksgiving Day
- Friday after Thanksgiving
- Christmas Eve Day
- Christmas Day
Cafeteria Plan Benefits
The City contributes up to a maximum of $1,003* per month per employee for elected benefits, with the balance being deducted from the employee's wages. Coverage becomes effective 30 calendar days after the first of the month following the date of employment. Employees may “opt-out” of health coverage at a cost $526.16 per month with proof of coverage through their spouse.
Part-time, regularly scheduled employees receive pro-rated cafeteria benefits. Temporary and seasonal employees are not eligible for benefits.
*This amount may vary based upon position held by the employee.
Health Insurance
The City offers four different plans of health care coverage for employees through HealthPartners:
| Coverage Type | HealthPartners High Option $30 Copay Plan |
HealthPartners "Three for Free" Plan | HealthPartners Open Access $2500 Deductible HRA | HealthPartners Open Access $2500 Deductible HSA |
|---|---|---|---|---|
| Single | $666.76 | $596.34 | $472.00 | $439.76 |
| Employee + Child(ren) | $1,344.22 | $1,202.14 | $951.02 | $885.96 |
| Employee + Spouse | $1,418.74 | $1,268.78 | $1006.62 | $937.76 |
| Family | $1,755.50 | $1,569.90 | $1,241.92 | $1,156.96 |
Dental Insurance
Voluntary dental insurance is available through Ameritas Group. The 2009 monthly rates for the two different plans currently available are:
| Coverage Type | Low Option | High Option |
|---|---|---|
| Single | $20.26 |
$33.57 |
| Employee + Child(ren) | $69.12 | $97.29 |
| Employee + Spouse | $41.04 | $68.69 |
| Employee + Family | $89.90 | $132.41 |
Basic Life Insurance
Employees are provided with up to $50,000 in term life insurance, or 1.5 times their annual salary (whichever is less) by the City.
Supplemental Life Insurance
The basic life insurance program also provides an option for employees to purchase additional term life insurance for themselves and dependents at low group rates.
Long Term Disability (LTD)
Employees are provided LTD insurance by the City. After a three-month waiting period, LTD coverage pays 66% of pre-disability monthly earnings subject to a maximum of $6,700 per month.
Flexible Spending Account (FSA)
Employees may sign up for the FSA program. FSA is a convenient way to purchase health care and dependent care services with before-tax dollars.
Long Term Care (LTC)
Voluntary LTC coverage is available for employees and spouses.
Supplemental Insurance
Voluntary supplemental insurance, including short-term disability, cancer, critical illness, and accident insurance is available through Colonial Life.
Post-Employment Health Care Savings Plan
Administered by the Minnesota State Retirement System (MSRS), the Health Care Savings Plan is an employer-sponsored program that allows employees to save monthly, tax-free, to use upon termination of employment to pay for eligible health care expenses. Employees are able to choose among several different investment options provided by the State Board of Investment.
While deferred compensation plans or retirement accounts provide a tax-deferred benefit, amounts paid out are considered taxable income. Under the Health Care Savings Plan, amounts contributed are tax-free and no taxes are paid on amounts to pay health, dental, and long-term care insurance premiums, as well as out-of-pocket medical expenses. Assets in the account accumulate tax-free, and since payouts are used for approved health care expenses they remain tax free.
Participation is either agreed to by the group or negotiated by a bargaining unit and is typically based upon years of service. Both mandatory monthly contributions and severance may apply, depending upon the group. With City approval, criteria may be changed by the group every two years.
Retirement Benefits
Retirement benefits are those of a coordinated plan which combines the benefits of Minnesota Public Employees Retirement Association (PERA) with regular Social Security benefits. Coordinated plan members contribute 6% of their gross earnings and the City of Golden Valley contributes 7%. Police and Fire Plan members contribute 9.4% of their gross earnings and the City contributes 14.1%. Membership in PERA is automatic for non-elected public employees who meet position eligibility requirements set by Minnesota statute. Employees are vested after 36 months of public service. Being vested means you qualify for benefits at the minimum allowable age.
If an employee terminates employment, he or she would get back what they have put into PERA with interest on the amount contributed. However, the employee loses the employer’s contribution if he or she withdraws the account balance.
Tuition Reimbursement
Full-time employees taking job-related education courses are eligible to receive a 100% reimbursement for tuition and books when their coursework is completed, up to the IRS limit. Regular employees working ¾ time (.75 FTE) are eligible to receive a 75% reimbursement for tuition and books when their coursework is completed and half-time regular employees (.5 FTE) are eligible to receive a 50% reimbursement for tuition and books when their coursework is completed. If employees are asked by their supervisor to attend a class or training session, the City will pay all associated costs.
Additional Optional Benefits
- Deferred Compensation Plans
- ICMA Retirement Corporation
- ING Financial Advisors
- Minnesota State Retirement System
- Fitness club membership discounts through HealthPartners
- Employee Assistance Plan through HealthPartners
- Membership banking with Wells Fargo or CCFCU
