Summary of Benefits
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.
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||8% of all eligible earnings, pre-tax||13% of all eligible earnings, based on state statute||After 12 years of service||Eligible for retirement at 22 years of service regardless of age|
|Police||Oklahoma Police Pension and Retirement System||4% of all eligible earnings, pre-tax||13% of all eligible earnings based on state statute, plus an additional 4% per Collective Bargaining Agreement||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.
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.
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.
|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.
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.