Common use of Deferred Compensation – County Paid Program Clause in Contracts

Deferred Compensation – County Paid Program. The County will establish a County-paid 457 Deferred Compensation Plan for bargaining unit members eligible under federal law and plan rules. Effective FY 2004-2005 deferred compensation of one-half percent (0.5%) for all eligible employees will cease and be re-directed towards the normal cost of implementing the 3% at 60 retirement enhancement, as agreed, making the County contribution zero (0).

Deferred Compensation – County Paid Program. ‌ The County will establish a County-paid 457 Deferred Compensation Plan for bargaining unit members eligible under federal law and plan rules. Effective FY 2004-2005 deferred compensation of one-half percent (0.5%) for all eligible employees will cease and be re-directed towards the normal cost of implementing the 3% at 60 retirement enhancement, as agreed, making the County contribution zero (0).