Voluntary Deferred Compensation. The City provides a voluntary deferred compensation plan as per standards approved for all fulltime unit employees who elect to participate.
Voluntary Deferred Compensation. Match Program: Beginning July 1, 2019, the County will match up to $1,040 annually each calendar year of an employee’s voluntary contributions to his or her 457(b) deferred compensation account by depositing the matching funds into the employee’s 401(a) tax deferred defined contribution account. The employees’ eligibility for the employer match is subject to the terms of Section 7 this Article.
Voluntary Deferred Compensation. 1. Unit employees covered herein may voluntarily participate in City- sponsored deferred compensation plans.
2. The City does not warrant that amounts deposited in the deferred compensation plans are "qualified" for tax deferral and is not to be held liable for such tax payments as may be determined assessable.
Voluntary Deferred Compensation. Bargaining Unit Members are eligible for a benefit program that offers an opportunity to save money for retirement and reduce current tax liability. The voluntary pre-tax savings plan allows employees to set aside a share of their compensation before it is subject to federal or state income tax. The contributions are automatically deducted from a Member’s paycheck. The Member self- directs the investment of his or her deferred compensation funds. Members can enroll in the Deferred Compensation Plan at any time.
Voluntary Deferred Compensation. Compensation and Performance Bonus deferred under the Voluntary Deferred Compensation program will be paid based on your irrevocable elections as a result of your retirement.
Voluntary Deferred Compensation. Commencing on October 1, 2019 through January 15, 2020 you voluntarily deferred the sum of $10,000 per month of your monthly salary for a total sum due you in the amount of $35,000. The Deferred Compensation shall be paid as follows:
a) The sum of $7,500 shall be paid to you no later than March 6, 2020 in the form of a check or direct deposit pursuant to the Company’s payroll terms and conditions; and Xxxxxxx X. Xxxxxxx January 22, 2020
b) The sum of $7,500 shall be paid to you no later than March 20, 2020 in the form of a check or direct deposit pursuant to the Company’s payroll terms and conditions; and
c) The sum of $7,500 shall be paid to you no later than April 3, 2020 in the form of a check or direct deposit pursuant to the Company’s payroll terms and conditions; and
d) The sum of $7,500 shall be paid to you no later than April 17, 2020 in the form of a check or direct deposit pursuant to the Company’s payroll terms and conditions; and
e) The sum of $5,000 shall be paid to you no later than May 1, 2020 in the form of a check or direct deposit pursuant to the Company’s payroll terms and conditions.
Voluntary Deferred Compensation. A. VOLUNTARY 457 DEFERRED COMPENSATION PLAN
1. City agrees to provide a deferred compensation plan for unit employees covered herein pursuant to IRS Code Section 457.
2. If more than one plan is offered, unit employees shall be limited to participation in one (1) plan at a time.
3. Plan documents and participation rules under Section 457 are maintained by and available from the Human Resources Department.
B. CITY CONTRIBUTION TO DEFERRED COMPENSATION (NON- PERSABLE)
1. Effective the pay period that includes July 1, 2017, the City's maximum contribution to deferred compensation shall be sixty dollars ($60) per pay period (non-PERSable) for unit employees that contribute a minimum of twelve dollars ($12) per pay period and a dollar per dollar match for employees that contribute less than twelve dollars ($12) per pay period.
2. The deferred compensation plan is a benefit, and as such the contribution by the City on behalf of the unit employee shall not change the employee's salary classification range.
3. Unit employees may, at their option, contribute in excess of the City's matching contribution per pay period to the plan.
Voluntary Deferred Compensation. Members of Lodge #50 employed by the Village shall be afforded the option to enroll into a secondary retirement program selected by Lodge and governed by the Internal Revenue Code §457. A company with an established program shall administer the deferred compensation program. The Village shall offer payroll deduction for those employees participating in the secondary retirement program.
Voluntary Deferred Compensation. The City will continue to offer deferred compensation through Valic and ICMA.
Voluntary Deferred Compensation
