25E - AGMT - EMPL BENEFITS - Laserfiche WebLink

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VI. Contribution Sources and Amounts A. Definition of Earnings 'Ilse definition of Earnings will apply to all RHS Contribution Features that reference "Earnings including Direct Employer Contributions (Section VLB.1.) and Mandatory Employee Compensation Contributions (Section VLB.2.). Definition of earnings: As defined by the City Manager Employment Agreement. B. Direct Employer Contributions and Mandatory Contributions 1. Direct Employer Contributions Tlse E• nsployer shall contribute on behalf of cads Participant ❑ %oFEarnings ❑ S each Plan Year U A discretionary amount to be determined each Plan Year Other (describe): A one-time contribution as a conversion from the existing Medical Retirement Subsidv Plan. 2. Mandatory Employee Compensation Contributions The Employer will make mandatory contributions of Employee compensation as follows: ® Reduction in Salary - 1.95 % of Earnings or $ will be contributed for the Plan Year. ❑ Decreased Merit or Pay Plan Adjustment -All or a portion of the Employees' annual merit or pay plan adjustment will be contributed as follows: An Employee shall not have the right to discontinue or vary the rare of Mandatory Contributions of Employee Compensation. 3. Mandatory Employee Leave Contributions The Employer will make mandatory contributions of accrued leave as follows (provide formula for determining Mandatory Employee Leave contributions): ® Accrued Sick Leave 100% of sick leave cash out ❑ Accrued Vacation Leave ❑ Other (specify type of leave) Accrued Leave An Employee shall nor have the right to discontinue or vary the rate of mandatory leave contributions. C. Limits on Total Contributions (check one box) The total contribution by the Employer on behalf of each Participant (including Direct Employer and Mandatory Employee Contributions) for each Plan Year shall not exceed the following limits) below. Limits on individual contribution types are defined within the appropriate section above. 25E-93