Reso25 16386 - Laserfiche WebLink

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16 of the employee shall be paid in full by the employee and the City shall not be obligated to pay or "pick up" any portion thereof. COBRA - The City may cause employees not entitled to the benefits set forth in this Article who are allowed to remain on a City health insurance plan following separation from employment pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) to be charged for such coverage at the maximum rate permissible by law (presently 102% of the premium for an active employee). RELOCATION ASSISTANCE: Effective December 2, 2024, the City will provide new hires in the classifications of Assistant City Manager, Police and Fire Chiefs, and Department Directors reimbursement of documented relocation expenses. Offers of relocation assistance will be customized to meet the needs of the individual employee and the City, but will not exceed ten thousand dollars ($10,000). Qualifying relocation expenses include, but are not limited to, moving expenses (packing, shipping, and storage services of household goods), and rental/housing assistance, including the reimbursement of first month’s rent or mortgage payment of the new primary or secondary residentce (up to $3,500). The City will use IRS guidelines to determine expenses which may be reimbursed. The payment and/or reimbursement of all relocation expenses will be treated as taxable wages in accordance with applicable law, and subject to applicable tax withholdings. All relocation assistance is subject to advance, written approval by Director of Human Resourcesthe City Manager or their designee. Employees are responsible for keeping accurate expense records, completing relocation expense reports and providing clear, readable receipts. Relocation assistance applies when the new hire’s permanent residence is more than one hundred (100)fifty (50) miles away from the City and the new hire relocates to a new permanent residence or obtain a second place of residence fifty (50) miles or less away from the City of Redwood City. Relocation and all assistance must occur within twelve (12) months from the hire date. Should the employee voluntarily leave City employment prior to twelve (12) months from the hire date, the employee must repay the City the total cost of relocation within 30 days of separation. V. RETIREMENT Public Employees' Retirement System (PERS) – Tier 1: For employees hired before October 24, 2011, the City shall provide the Local Miscellaneous Members Section 21354.5 two and seven-tenths percent (2.7%) at age fifty-five (55) retirement formula, and the Public Safety members Section 21362.2 three percent (3%) at age fifty (50) retirement formula. Final compensation is calculated based on the single highest year in accordance with Government Code Section 20042. ATTY/RESO.0129/CC RESO AMENDING CLASSIFICATION AND WAGE AND SALARY PLAN (EXECUTIVE MANAGEMENT) - EXHIBIT A REV: 12-17-25 MI