Res18 15714 - Laserfiche WebLink

Browse Search

11/05/2018 is not considered part of base salary nor is there any intention that any bonus serve as the basis for any future compensation. Annually as part of the budget process, the City Manager recommends to Council an amount to be appropriated for this program for the ensuing fiscal year. This amount may be based upon experience and may be expanded or reduced in accordance with the City's financial prospects and the City Manager's/City Council's satisfaction with the program. CITY PAID DEFERRED COMPENSATION CONTRIBUTION Effective October 1, 2001, the City shall contribute 2% of compensation to a deferred compensation program for all Executive Management classifications. RETIREMENT ENHANCEMENT PLAN (401-A) All Executive Management employees shall be eligible to participate in the plan if they are employed as the City Manager, City Attorney, City Clerk, or are a Department Head, Deputy or Assistant Department Head, or Division Manager of the City of Redwood City. The City paid contribution of 2% of compensation will go into a 401-A plan for the applicable classifications, as defined in plan document. Employee contributions shall be mandatory and determined by the City in accordance with the plan document and I.R.S. guidelines. Employee contributions effective January 1, 2017, or upon Council approval of the amended plan, whichever occurs later, shall be as listed in Appendix A. For the purposes of this section compensation shall be defined as all regular pay and any applicable retroactive payments relating to said regular pay. For the purposes of this section regular pay shall be defined as the amount appearing in the regular pay line on the participant's pay stub. All Executive Management personnel will participate in the City's payroll direct deposit program. Employees shall be paid biweekly in accordance with Citywide payroll procedures. III. LEAVE a. Vacation — Vacation accruals will be set by the City Manager based on years of service with City and total public sector years or years in the industry. Executive Management will accrue vacation based on years of service based on the following schedule: Date of Hire through the fourth year of service— 3.077 hours per pay period, ATTY/RESO.0104/CC RE50 AMENDING SALARY & WAGE PLAN FOR EXECUTIVE MANAGEMENT POSITIONS RESO. NO. 15714 REV: 11-01-18 RL MUFF NO. 905 Page 8 of 22