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<br />6.28 <br />Page 14 <br /> <br />performance. This program is not a method of recognizing expected or above average <br />performance. Again, the Bonus program is only for exceptional service to the city or <br />community. Any bonus awarded under this program is not considered part of base <br />salary nor is there any intention that any bonus serve as the basis for any future <br />compensation. <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 <br />may be based upon experience and may be expanded or reduced in accordance with <br />the City's financial prospects and the City Manager'sjCity Council's satisfaction with the <br />program. <br /> <br />CITY PAID DEFERRED COMPENSATION CONTRIBUTION <br /> <br />Effective October I, 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 />Effective January 28, 2003, all Executive Management employees shall be eligible to <br />participate in the plan if they are employed as the City Manager, City Attorney, City <br />Clerk or Department Head of the City of Redwood City. <br /> <br />Upon adoption of plan amendment, Division Managers in Executive Management shall <br />be eligible to participate in the 401-A plan. <br /> <br />Effective January 28, 2003, the City paid contribution of 2% of compensation will go <br />into a 401-A plan for the classifications of City Manager, City Attorney, City Clerk and <br />Departments Heads, as defined in applicable plan document. <br /> <br />Upon adoption of plan amendment, the City paid contribution of 2% of compensation <br />will go into a 401-A for the the Division Managers in Executive Management. <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 />Upon adoption of plan amendment provide Executive Management the election to <br />contribute, subject to the applicable I.R.S. limits, al/ or a portion of their leave payouts, <br /> <br />3 <br />