AGENDA REPORT
REQUEST FOR CITY COUNCIL ACTION
DATE: 6/21/2017
TO: Honorable Mayor and City Council Members
FROM: Administrative Services Department
SUBJECT:
Title
City Council Consideration to approve: (1) Resolution No. 2017-046, amending the compensation and benefits of non-represented management/confidential group employees; (2) Resolution No. 2017- 047 amending the compensation and benefits of non-represented executive group employees; (3) Side Letter Agreements with the Corona Firefighters Association, Corona Supervisors Association, Corona Police Employees Association, Corona Police Supervisor Association, and the Corona General Employees Association; and (4) Resolution No. 2017-049 adopting a consolidated 457(b) Deferred Compensation Plan document, all of which will permit employees to contribute accrued annual leave to their 457(b) Deferred Compensation account at separation from employment with the City, to require that employees make an advance irrevocable election to buy back annual leave, and to clarify the terms and conditions for employees to obtain a loan against their 457(b) Deferred Compensation account.
End
RECOMMENDED ACTION:
Recommended action
That the City Council:
1. Adopt Resolution No 2017- 046 governing Compensation and Benefits of Non-Represented Management/Confidential Group Employees to permit employees to contribute accrued annual leave to their 457(b) Deferred Compensation account at separation from employment with the City, to require that employees make an advance irrevocable election to buy back annual leave buy back, and to clarify the terms and conditions for employees to obtain a loan against their 457(b) Deferred Compensation account.
2. Adopt Resolution No 2017- 047governing Compensation and Benefits of Non-Represented Executive Group Employees to permit employees to contribute accrued annual leave to their 457(b) Deferred Compensation account at separation from employment with the City, to require that ...
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