5.09.050 Compensation Deferral.

City Code Section

(Amended by Ordinances 182168, 186746 and 187574, effective February 10, 2016.)

  1. A.  The amount of Compensation which may be deferred by a Participant shall be subject to the following limits:
    1. 1.  The minimum amount deferred shall not be less than $10 per pay period per plan election;
    2. 2.  The maximum amount of Compensation which may be deferred during a plan year shall not exceed the lesser of the dollar amount provided under IRC sections 457(e)(15) and 415(d).

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