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<br /> 9?A :r: <br /> CHAPTER V - BENEFITS <br /> Section 5.10 - Credit Union: <br /> City employees and family members are eligible to join the Randolph-Brooks Federal Credit <br /> Union. Any of the Randolph-Brooks Federal Credit Union offices may be contacted for further <br /> information. <br /> Section 5.15 - Deferred Compensation Plan: <br /> A 457 Deferred Compensation Plan is offered to all City employees through the <br /> International City Management Association (ICMA). This program allows employees to defer <br /> part of their salary for payment at a future date. Information regarding the ICMA Deferred <br /> Compensation Plan is available from the Human Resources Department. <br /> ~ <br /> Section 5.20 - Insurance: <br /> The City of San Marcos provides group insurance coverage to regular full time and regular <br /> part time city employees. The Human Resources Department has current information detailing <br /> available coverages, eligibility and cost - all of which are subject to change. <br /> I <br /> There is a thirty (30) day waiting period for new employees. Optional life insurance will <br /> be subject to carrier approval. <br /> Section 5.25 - Continuation of Insurance Coverage (COBRA): <br /> The federal Consolidated Omnibus Budget Reconciliation Act (COBRA) provides that all <br /> employees are eligible to continue their group insurance coverage for up to eighteen (18) <br /> months when employment is terminated due to resignation, reduction of work hours, or <br /> October 1992 Employee Handbook - City of San Marcos Page 5 - 1 <br />