457 PLAN- MATCHING FUNDS. Effective June 27, 2010, The City will match employee contributions to the City’ 457 Deferred Compensation Plan up to $50.00/month.
457 PLAN- MATCHING FUNDS. Effective June 27, 2010 the beginning of the pay period immediately following Council approval of this contract, Tthe City will match employee contributions to the City’ 457 Deferred Compensation Plan up to $50.0075.00/month.
457 PLAN- MATCHING FUNDS. Effective the beginning of the pay period following June 5, 2012, the City will match employee contributions to the City 457 Deferred Compensation Plan up to Effective the pay period containing July 1, 2012, the City will match employee contributions to the City 457 Deferred Compensation Plan up to $20 per pay period. Effective the pay period containing July 1, 2013, the City will match employee contributions to the City 457 Deferred Compensation Plan up to $30 per pay period.
457 PLAN- MATCHING FUNDS. For Classic members as identified by CalPERS, the City will continue to match employee contributions to the City 457 Deferred Compensation Plan up to $30 per pay period. Effective the beginning of the pay period following Council adoption (06/28/2020), for new members as identified by CalPERS (i.e. employees other than Classic members), the City will match 100%of the employee contributions to the City 457 Deferred Compensation Plan up to 2% of the employee’s base pay per pay period: Base pay rate excludes items such as, but not limited to, working out-of-class pay, and other special/differential pay.
457 PLAN- MATCHING FUNDS. The City will match employee contributions to the City’ 457 Deferred Compensation Plan up to $75.00/month for employees identified by the Public Employee Retirement System (PERS) as Classic Members. Effective the beginning of the pay period following Council adoption, the City will match employee contributions to the City’s 457 Deferred Compensation Plan up to 1.53% of base salary for employees identified by PERS as New Members as defined in Government Code §7522.04(f); the match replaces the current 457 match from the City of up to $75/month for New Members. Classic Members will continue to receive the current 457 match from the City of up to $75/month.
