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DSA 35. Deferred Compensation Plan- Automatic Enrollment for New Employees

In DSA-Sworn Safety 2016-2021
Tagged DSA, Reopeners, Sheriff's Office

Subject to applicable federal regulations, the County agrees to provide a deferred compensation plan that allows employees to defer compensation on a pre-tax basis through payroll deduction.   Effective January 1, 2016, each new employee will be automatically enrolled in the County’s Deferred Compensation program, at the rate of one percent (1%) of their pre-tax wages, unless they choose to opt out or to voluntarily change deferrals to greater than or less than the default one percent (>1%) as allowed in the plan or as allowed by law.  The pre-tax deduction will be invested in the target fund associated with the employees’ date of birth. All deferrals are fully vested at the time of deferrals; there will be no waiting periods for vesting rights.

2015-03-17
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Employee & Labor Relations