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CITY PAID DEFERRED COMPENSATION CONTRIBUTION <br /> Effective October 1, 2001, the City shall contribute 2% of compensation to a deferred <br /> compensation program for all Executive Management classifications. <br /> RETIREMENT ENHANCEMENT PLAN (401-A) <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 /> 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 /> 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 /> 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 /> 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 /> III. LEAVE <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 /> Executive Management will accrue vacation based on years of service based on <br /> the following schedule: <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 /> O Fifth through the ninth year of service — 4.615 hours per pay period, yields <br /> 120 hours of vacation per year. <br /> O Tenth through the sixteen year of service — 6. 154 hours per pay period, <br /> yields 160 hours of vacation per year. <br /> ATTY/RESO.0096/CC RESO FOR EXECUTIVE MANAGEMENT SALARY & SUMMURY OF BENEFITS EXHIBIT B <br /> REV: 10-14-16 RL <br /> Page 3 of 18 <br />