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Res11 15106
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Res11 15106
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Last modified
9/2/2015 8:50:44 AM
Creation date
4/14/2011 4:54:37 PM
Metadata
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Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Joint
Agency Type
City Council and Redevelopment Agency
Date
4/11/2011
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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 /> 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's/City Council's satisfaction with the <br /> program . <br /> CITY PAID IEFERRED C MPENSATXON CONTRLBUTi ION <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 /> 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 /> Upon adoption of plan amendment, Division Managers in Executive Management shall <br /> be eligible to participate in the 401 -A plan. <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 /> 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 /> 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 /> Upon adoption of plan amendment provide Executive Management the election to <br /> contribute, subject to the applicable I. R.S. limits, all or a portion of their leave payouts, <br /> n <br />
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