Summary of Benefits

Overview

The City of Owasso extends a full range of benefits to its regular, full-time employees in order to attract qualified candidates for employment, promote a general sense of health and well-being, and to ensure the quality of life for our employees. The list below reflects the City of Owasso’s core benefits and other voluntary benefits available to employees upon hire. The contents of this website do not represent a contract for benefits or a guarantee of continuation of specified coverages.

Benefits

Regular, full-time employees are eligible for the following benefits

Employee Assistance Program
Health Benefits
Optional Retirement Plans
Paid Leave
Pre-Tax Section 125 Cafeteria Plan
Retirement and Pension Plans
Sick Leave Fund and Incentive Program
Tuition Reimbursement

Retirement & Pension Plans

Personnel	Name of Plan	Employee Contribution	City Contribution	Vesting Schedule	Normal Retirement
Civilian	Oklahoma Municipal Retirement Fund	4.26% of all eligible earnings, pre-tax	Based on an annual actuarial study	After 5 years of service	Age 65 with 5 years of service or age 62 with 30 years of service Plan Summary (PDF)
Fire	Oklahoma Firefighters Pension and Retirement System	9% of all eligible earnings, pre-tax	14% of all eligible earnings, based on state statute	After 10 years of service	Eligible for retirement at 20 years of service regardless of age
Police	Oklahoma Police Pension and Retirement System	8% of all eligible earnings, pre-tax	13% of all eligible earnings based on state statute	After 10 years of service	Eligible for retirement at 20 years of service regardless of age

Optional Retirement Plans

OMRF Defined Contribution (Thrift) Plan 401(A)

Regular, full-time employees may voluntarily contribute to the OMRF Defined Contribution (Thrift) Plan. The city contributes 1/2 up to 2% of employee’s contributions on an after-tax basis, and is calculated after taxes have been deducted. Employees may also make additional contributions to the plan up to the maximum designated by the IRS. Several options are provided for investment purposes, and employees are vested in both their own contributions and the city’s at five (5) years of service.

Plan Summary (PDF)

ICMA 457 Deferred Compensation Plan

Regular, full-time employees may voluntarily contribute to the ICMA 457 Deferred Compensation Plan. Employee contributions to the 457 Plan occur through payroll deduction on a pre-tax basis. This allows the employee to defer taxes each pay period until the contributions are withdrawn.

Health Benefits

Regular, full-time employees are eligible for health, dental, vision, and life coverage the first day of the month following hire. An employee’s spouse and dependents up to age 26 are also eligible for coverage.

Transparency in Coverage

The Transparency in Coverage final rule, released on October 29, 2020, requires health plans and issuers to publicly disclose pricing information via machine readable files (MRF). Listed below is the link for the MRF, which will be populate July 1, 2022: Machine Readable File

Pre-Tax Section 125 Cafeteria Plan

The City of Owasso offers the opportunity to utilize pre-tax spending accounts through payroll deduction. Available under this pre-tax option are qualified insurance premiums (including health, dental and vision), out-of-pocket medical expenses (i.e. co-payments, medical and dental deductibles, and other medical expenses not covered by insurance), dependent/child care expenses and other voluntary products.

Employees’ Assistance Program

The Employee Assistance Program (EAP) is designed to help employees maintain emotional health by providing counseling services for various life issues, including marital, work-related, financial, legal, emotional, parent-child, or alcohol-drug related issues. This confidential service is offered at no charge.

Paid Leave

Personnel	Holidays	Vacation	Sick
Civilian	8 paid holidays per year, 3 floating holidays per year; in lieu of holiday leave, Communications Officers paid for 32 hours of holiday compensation in June and December	Receive 40 hours of paid vacation after successful completion of six months; employee will then begin to accrue 3.08 hours per bi-weekly pay period View Accrual Schedule (PDF)	Accrue 3.70 hours per bi-weekly pay period
Fire	Accrue 5.54 hours per bi-weekly pay period in lieu of holiday compensation	Receive 120 hours of vacation leave after successful completion of one year; employee will then begin to accrue 5.54 hours per bi-weekly pay period View accrual schedule (PDF)	Accrue 8.31 hours per bi-weekly pay period
Police	In lieu of holiday leave, officers are paid 48 hours of holiday compensation in June and December, with option of converting holiday pay to leave accrual in June and/or December	Receive 96 hours of vacation leave after successful completion of one year; employee will then begin to accrue 8 hours per month View accrual schedule (PDF)	Accrue 9.25 hours per month

Sick Leave Fund & Incentive Program

A voluntary sick incentive program is provided by the city to encourage appropriate use of sick time and provide a short-term disability provision for enrolled employees.

Tuition Reimbursement

Regular, full-time employees are entitled to receive tuition reimbursement for any classes taken in pursuit of an undergraduate degree, with a minimum grade of "C." With the approval of the city manager, employees may receive tuition reimbursement for any classes taken in pursuit of a graduate degree, with a minimum grade of "B." All tuition reimbursement is based upon tuition rates provided by the Oklahoma State Regents for Higher Education standard.