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<br />ATTY/RESO.0062/CC RESO AMENDING SALARY PLAN & EXECUTIVE SUMMARY OF BENEFITS – EXHIBIT C <br />REV: 06-16-17 MI <br />Page 5 of 18 <br /> <br />Annually as part of the budget process, the City Manager recommends to Council an <br />amount to be appropriated for this program for the ensuing fiscal year. This amount may <br />be based upon experience and may be expanded or reduced in accordance with the City’s <br />financial prospects and the City Manager’s/City Council’s satisfaction with the program. <br /> <br />CITY PAID DEFERRED COMPENSATION CONTRIBUTION <br /> <br />Effective October 1, 2001, the City shall contribute 2% of compensation to a deferred <br />compensation program for all Executive Management classifications. <br /> <br />RETIREMENT ENHANCEMENT PLAN (401-A) <br /> <br />All Executive Management employees shall be eligible to participate in the plan if they <br />are employed as the City Manager, City Attorney, City Clerk, or are a Department Head, <br />Deputy or Assistant Department Head, or Division Manager of the City of Redwood City. <br /> <br />The City paid contribution of 2% of compensation will go into a 401-A plan for the <br />applicable classifications, as defined in plan document. Employee contributions shall be <br />mandatory and determined by the City in accordance with the plan document and I.R.S. <br />guidelines. Employee contributions effective January 1, 2017, or upon Council approval <br />of the amended plan, whichever occurs later, shall be as listed in Appendix A. <br /> <br />For the purposes of this section compensation shall be defined as all regular pay and <br />any applicable retroactive payments relating to said regular pay. <br /> <br />For the purposes of this section regular pay shall be defined as the amount appearing in <br />the regular pay line on the participant’s pay stub. <br /> <br />All Executive Management personnel will participate in the City’s payroll direct deposit <br />program. Employees shall be paid biweekly in accordance with Citywide payroll <br />procedures. <br /> <br />III. LEAVE <br /> <br />a. Vacation – Vacation accruals will be set by the City Manager based on years of <br />service with City and total public sector years or years in the industry. <br /> <br />Executive Management will accrue vacation based on years of service based on <br />the following schedule: <br /> <br />• Date of Hire through the fourth year of service – 3.077 hours per pay period, <br />yields 80 hours of vacation per year). <br /> <br />8.C. - Page 32