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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 />(b) 33-1/3 percent (33'/3 %) of the participant's includible compensation. Provided, however, <br />for the one (1) or more of the participant's last three (3) taxable years ending before he or <br />she attains normal retirement age under the Plan, which shall not be later than sixty-five <br />(65) years of age nor earlier than fifty (50) years of age, the ceiling set forth in paragraph <br />(a) or (b) shall be the lesser of: <br />(c) $15,000, or <br />(d) The sum of <br />(1) So much of the Plan ceiling established pursuant to paragraph (a) or (b) for the <br />taxable year as has not theretofore been used under paragraph (a) or (b) or <br />paragraph (c) or (d). <br />&10.1.130: ADMINISTRATION OF THE PLAN. <br />(a) The Plan shall be administered by the employer, who shall have the sole authority to <br />enforce the Plan and shall be responsible for the operation of the Plan in accordance with <br />its terms. The employer shall determine the time, manner, and amount of payments of <br />benefits pursuant to § 10.1.135 and shall determine all questions arising out of the <br />administration, interpretation, and application of the Plan, which determinations shall be <br />conclusive and binding on all persons; provided that employer, unless there is a good <br />reason to the contrary, will seek to accommodate participant's wishes in rendering such <br />determinations. The employer may designate an administrator or administrators to act on <br />its behalf in all areas of administration of the Plan, including execution of Adoption <br />Agreements on behalf of employer and delegation of all or any part of its accounting <br />responsibilities to any agent it may desire. No administrator shall be a participant of the <br />Plan during any such time he is acting as such administrator. <br />(b) The employer shall establish a deferred compensation fund to which all deferred <br />compensation will be credited at such times as the compensation would have payable to <br />individual employees if not a participant of the Plan. Separate book accounts will be <br />established for each employee participant which will show all amounts of deferred <br />compensation, investments made, shares required and earnings and gains on investments. <br />Each book account will be valued at least annually on a method as outlined in subsection <br />(c). <br />(c) On executing the Participation Agreement, the employee shall designate his investment <br />objective. The employee will invest compensation deferred in any assets that may be <br />Deparhnent Responsible for Revision: Human Resources Chapter 10.1 <br />04/19/1983 Page 3 <br />
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