Section 20. Retirement Plan
20.1 The County shall continue to enroll eligible extra-help employees in the Part-Time, Seasonal, Temporary Retirement Plan.
20.2 Each pay period, seven and one-half percent (7.5%), or that amount designated by law, shall be deducted from each extra-help employee’s salary and deposited into their Part-Time, Seasonal, Temporary Retirement Plan account in lieu of Social Security.
20.3 Contributions and investment returns, minus administrative expenses, shall be credited to each extra-help employee’s Part-Time, Seasonal, Temporary Retirement Plan account based on their monthly account activity.
20.4 Subject to applicable federal regulations, the County agrees to provide a deferred compensation plan that allows employees (extra help employees and limited term 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 employee’s date of birth. All deferrals are fully vested at the time of deferrals; there will be no waiting periods for vesting rights.