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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 />The City shall contribute one -half percent (.5 %) of the employee's base <br />compensation into a 457 deferred compensation plan. Effective January 14, <br />2017, the City shall contribute and additional one -half percent (.5 %) for a total of <br />one percent (1%). City contributions are tax - deferred, and count towards the 457 <br />annual maximum deferral as designated by the IRS. Employees without an <br />existing 457 account with a City sponsored provider must establish one in order <br />to receive the City contribution, but no employee contribution to the account is <br />required." <br />CONCLUSION <br />This report reviews the recommended changes to compensation and benefits for the <br />City's management and confidential employees. As these employees are not <br />represented by a Union, staff seeks Council approval and ratification of these wage <br />adjustments and amendments. <br />Sub 1tted by: Fisc Review: Approve <br />4J it <br />Debra Gill <br />Director of Human Resources/ <br />Labor Relations <br />li <br />Tina Olson <br />Director of Finance <br />Nelson Fialho <br />City Manager <br />Attachment: <br />1. Management and Confidential Control Points dated September 10, 2016 <br />2. Resolution <br />Page 3 of 3 <br />