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Richfield council adopts update to postemployment health-care savings plans
Summary
The council adopted a resolution to modify the general services and management postemployment healthcare savings plans to align plan language with the city's 2024 pay-structure changes following a Baker Tilly compensation study.
On May 12 the Richfield City Council adopted a resolution updating the city's postemployment healthcare savings plans to align plan language with the new pay structure the council adopted in 2024 following a Baker Tilly compensation and classification study.
Council Member Coleman Woods said the change removes references to the former pay structure and assigns employees in general pay plan grade 12 and below to the general services postemployment HCSP, while employees in grade 13 and above are included in the management plan. Staff described the update as language cleanup required to implement the new framework.
The council moved, seconded and approved the resolution by voice vote. Staff said contributions remain tax-free and that employees may select investment options through the state board of investment where applicable.
