Employee Contribution to Deferred Compensation. Employees may elect to contribute from their regular wages to deferred compensation accounts up to the IRS-established limits. In accordance with the tax laws, any cash that an employee may receive through the cafeteria plan may not be deferred to the employee’s deferred compensation accounts directly from the cafeteria plan.
Employee Contribution to Deferred Compensation. In addition to the City’s contribution to deferred compensation described in Section A, 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 deferred compensation plans.
Employee Contribution to Deferred Compensation. Employees may elect to contribute from their regular wages to deferred compensation accounts up to the IRS-established limits. In accordance with the tax laws, any cash that an employee may receive through the cafeteria plan may not be deferred to the employee’s deferred compensation accounts directly from the cafeteria plan. Any cash that an employee may receive through the cafeteria plan may not be deferred to the employee’s accounts under the City’s deferred compensation plans. The employee may, however, be able to elect to increase his/her deferrals to the City’s deferred compensation plans from his/her regular wages.
