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8E Consent 2010 0607
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8E Consent 2010 0607
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6/4/2010 9:51:32 AM
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6/4/2010 9:51:30 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
6/7/2010
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_CC Agenda 2010 0607
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2010\Packet 2010 0607
Reso 2010-068
(Reference)
Path:
\City Clerk\City Council\Resolutions\2010
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SAN LEANDRO ADMINISTRATIVE CODE <br />TITLE 10 HUMAN RESOURCES <br />Chapter 1 Deferred Compensation Plan <br />(1) Filing it with the employer no later than the day before the beginning of any <br />employment year of the employee; <br />(2) For the first year in which the Plan is established, by filing it with the employer <br />no later than sixty (60) days after the Plan is established. <br />(b) A Participation Agreement shall be effective for the first employment year following its <br />execution and filing, except when it is executed and filed pursuant to subsection (a)(2), in <br />which case it shall be effective for that part of the employment year following its <br />execution and filing. In either situation, the Participation Agreement shall continue from <br />year to year and remain in full force and effect unless terminated as provided in <br />subsection (c) below or amended as provided in subsection (d) below. <br />(c) A participant may terminate his participation in the Plan and thereby terminate further <br />deferral of his compensation by filing with the employer an executed written notice of <br />termination at least thirty (30) days prior to effective date of termination. Once <br />terminated, a former participant cannot rejoin the Plan during the employment year in <br />which termination occurred; however, he may elect to become a participant in subsequent <br />employment years. No amounts shall be payable to an employee upon terminating his <br />participation in the Plan unless otherwise due pursuant to § 10.1.135. <br />(d) A participant may, at any time, amend his Participation Agreement to change <br />beneficiaries or to increase or decrease the amount of compensation, payment of which is <br />deferred under the Plan, or to change the investment objective of such deferred <br />compensation. Provide, however, that with the exception of beneficiary changes such <br />amendment shall not be effective during the month that it is executed and filed with the <br />employer. <br />&10.1.120: DEFERRAL OF COMPENSATION. During each employment year in which <br />the employee is a participant in the Plan, the employer shall defer payment of such part of <br />Employee's compensation as is specified by the employee in the Participation Agreement which <br />he has executed and filed with the employer. Compensation shall be deferred in equal amounts <br />over each pay period of the employee's employment year. <br />&10.1.125: MAXIMUM CONTRIBUTIONS. Notwithstanding any of the provisions of the <br />Plan to the contrary, the maximum amount that may be deferred under the Plan for the taxable <br />(calendar) year shall not exceed the lesser of: <br />(a) $7,500, or <br />Deparhnent Responsible for Revision: Human Resources Chapter 10.1 <br />04/19/1983 Page 2 <br />
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