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The amended language, set forth in the Management/Confidential Employee <br /> Performance Compensation Plan for which Council approval is sought reads as <br /> follows: <br /> "9. Deferred Compensation <br /> The City shall provide a voluntary IRC 457 deferred compensation plan for <br /> management and confidential employees and a voluntary IRS 401A plan for <br /> management employees. <br /> The City may provide deferred compensation contributions for management and <br /> confidential employees. Any funds deposited in a deferred compensation plan <br /> under this provision belong to the employee, regardless of length of service or <br /> reason for separation. <br /> Effective January 2, 2016, the City shall contribute one-half percent (.5%) of the <br /> employee's base compensation into a 457 deferred compensation plan. The <br /> contribution is tax-deferred, and counts towards the 457 annual maximum <br /> deferral as designated by the IRS. Employees without an existing 457 account <br /> with a City sponsored provider must establish one in order to receive the City <br /> contribution, but no employee contribution to the account is required." <br /> Medical Contributions for Active Employees: <br /> Currently active management and confidential employees receive Agency-paid <br /> contributions towards medical premiums up to the lowest cost HMO family plan. <br /> Although employees are required to pay co-pays and/or deductibles, they do not <br /> contribute towards the premiums if the selected plans' premiums are less than <br /> the lowest cost HMO family plan. The proposed amendment to the Management <br /> and Confidential Employee Performance Compensation Plan requires employees <br /> who currently make no contributions toward their medical premiums to pay $25 <br /> per month effective January 2016. <br /> The amended language, set forth in the Management/Confidential Employee <br /> Performance Compensation Plan for which Council approval is sought reads as <br /> follows: <br /> "5.2 Medical Insurance—Active Employees <br /> A. Contributions <br /> The City will continue to contribute for each employee a monthly <br /> amount no greater than the family rate of the lowest cost HMO. <br /> Effective January 2, 2016 all employees participating in the City's <br /> health plans will contribute one of the following two amounts, <br /> whichever is greater: <br /> 1. $25.00 per month <br /> Page 3 of 4 <br />