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Section 17. Credit Union <br /> <br />The City shall implement a voluntary payroll deduction option for <br />those employees who wish to join the City and County Employees <br />Credit Union for the purpose of transacting business with such City <br />and County Employees Credit Union. <br /> <br />Section 18. <br /> <br />Deferred Compensation Plan <br /> <br />The City shall implement a deferred compensation plan provided, <br />however, ten percent (10%) of the PCEA membership agree to <br />participate in said plan. If at any time participation in said <br />plan falls below ten percent (10%) of the PCEAmembership, the City <br />may at its discretion, discontinue said plan at the conclusion of <br />the calendar year following sixty days notice to the PCEA. <br /> <br />Section 19. <br /> <br />Educational Incentive Tuition and Book Reimbursement Proqram <br /> <br />19.1 <br /> <br />Educational Incentive <br /> <br />All regular employees having reached step E of their <br />classification's pay range are eligible for educational incentive <br />pay for college degrees earned while employed by the City of <br />Pleasanton provided the degree is awarded from a community college, <br />college or university accredited by the Western Association of <br />Schools and Colleges and is in a recognized academic or <br />professional field as determined by the employer's Department Head <br />and the Personnel Director. Where a degree appears not to be in a <br />recognized academic field the Department 'Head and Personnel <br />Director shall provide the employee an opportunity to discuss the <br />issue with them before they make their decision. Once made, <br />however, the decision of the Department Head and Personnel Director <br />shall be final. <br /> <br />Incentive pay shall be a percentage of monthly base salary as <br />specified below: <br /> <br />Eligible Degree <br /> <br />Incentive Pay <br /> <br />AA 2.5% <br />SA/SS 5.0% <br />MS/MA 5.0% <br /> <br />The maximum incentive pay an employee can receive is five percent. <br />Should an employee be promoted to a position requiring' the degree <br />for which he/she is currently receiving incentive pay, said <br />incentive pay shall cease. <br /> <br />To receive incentive pay the employee must submit a copy of his/her <br />college degree and'college transcripts showing his/her overall <br />grade point average. Incentive pay shall be effective at the <br />beginning of the next pay period following approval of eligibility. <br /> <br />- 22 - <br /> <br /> <br />