Deferred Compensation Contribution. The County of San Xxxxxxx may maintain a Section 457 Deferred Compensation Plan. The allowable contribution shall be the maximum allowed by the Internal Revenue Code. The County, at its sole discretion will have the right at any time during the period covered by this agreement to develop charges necessary for the administration of the plan or plans, and implement said charges for active and inactive participants, to be paid by active and inactive participants. In any case, the charge will not exceed the actual cost to the County for administration of the plan or plans as computed by the Auditor-Controller under standard accounting practices for cost allocation purposes. Before implementing a payroll deduction charge, the County will make every effort to negotiate with the plan vendors and/or third party administrator(s) to recoup the County cost from their management fees.
Deferred Compensation Contribution. The County will provide two and one-half percent (2.5%) of base salary in each pay period to deferred compensation for eligible employees. Eligible employees are those employees who have ten or more years of County service.
Deferred Compensation Contribution.
(A) For employees in regular positions, the COUNTY will contribute three percent (3.0%) of the employee’s PERS subject wage rate to the COUNTY’s deferred compensation providers.
(B) Each eligible and qualified new employee will be auto-enrolled in the deferred compensation program with an employee contribution of two percent (2.0%) of their wage. Employees can choose to opt out of the contribution, or increase the contribution amount.
(C) Employees will be responsible to assure that their account does not exceed the maximum allowed under IRS rules.
Deferred Compensation Contribution. The Courts may maintain a Section 457 Deferred Compensation Plan. The allowable contribution shall be the maximum allowed by the Internal Revenue Code. The Courts, at its sole discretion will have the right at any time during the period covered by this agreement to develop charges necessary for the administration of the plan or plans, and implement said charges for active and inactive participants, to be paid by active and inactive participants. In any case, the charge will not exceed the actual cost to the Courts for administration of the plan or plans as computed by the Court under standard accounting practices for cost allocation purposes. Before implementing a payroll deduction charge, the Courts will make every effort to negotiate with the plan vendors and/or third party administrator(s) to recoup the Courts cost from their management fees.
Deferred Compensation Contribution. The City shall contribute $100.00 per month per employee to a deferred compensation account. In addition to the City’s contribution to deferred compensation described in the first paragraph, any employee may elect to contribute to his/her own deferred compensation account from his/her regular wages up to the maximum deferrals specified by law and/or plan rules. In accordance with the tax rules, any cash that an employee may receive through the cafeteria plan may not be deferred to the employee’s accounts under the City’s retirement plans.
Deferred Compensation Contribution. The County will provide two and one- half percent (2.5%) of base salary in each pay period to deferred compensation for eligible managers. Eligible managers are those employees who have ten (10) or more years of County service.
Deferred Compensation Contribution. During the Term, the Company will make an annual contribution for the Executive’s benefit to the Executive Deferred Compensation Plan, or any successor plan designated by the Compensation Committee of the Board of Directors of the Company, in an amount equal to at least 15% of the Executive’s then current annual base salary.
Deferred Compensation Contribution. The City shall contribute $10,000 per year to Employee's 457 deferred compensation account.
Deferred Compensation Contribution. The City will make available to the employee’s a City endorsed deferred compensation plan. Employees must contribute a minimum of 2% of their base wage to their deferred compensation plan unless they have filed an “opt-out” form with payroll.
Deferred Compensation Contribution. Effective October 1, 2001, the City shall contribute 2% of compensation to a deferred compensation program for all Executive Management classifications. All Executive Management employees shall be eligible to participate in the plan if they are employed as the City Manager, City Attorney, City Clerk, or are a Department Head, Deputy or Assistant Department Head, or Division Manager of the City of Redwood City. The City paid contribution of 2% of compensation will go into a 401-A plan for the applicable classifications, as defined in plan document. Employee contributions shall be mandatory and determined by the City in accordance with the plan document and I.R.S. guidelines. Employee contributions effective January 1, 2017, or upon Council approval of the amended plan, whichever occurs later, shall be as listed in Appendix A. For the purposes of this section compensation shall be defined as all regular pay and any applicable retroactive payments relating to said regular pay. For the purposes of this section regular pay shall be defined as the amount appearing in the regular pay line on the participant’s pay stub. All Executive Management personnel will participate in the City’s payroll direct deposit program. Employees shall be paid biweekly in accordance with Citywide payroll procedures.
