There are hereby established the employment
designations as set forth in Column 1 of Schedule A.
The compensation of the holder of the employment
designation set forth in Column 1 of Schedule A may be increased or
decreased by resolution adopted by the Council. The compensation shall
be within the range set forth in Column 2 of Schedule A, but nothing
contained herein shall be construed as automatically increasing or
decreasing the compensation of the officers and employees of the Borough
existing at the date of enactment of this chapter or at any subsequent
date unless specifically authorized by resolution of the Council.
The period of payment of the compensation of
the employment designation set forth in Column 1 shall be as set forth
in Column 3 of Schedule A.
The Council reserves the right to pay compensation
to any new officers or employees at any figure given in Schedule A
within the compensation range and not necessarily the minimum figure
of the range.
[Amended 8-13-1979 by Ord. No. 315-C]
A. Establishment of deferred compensation program. Pursuant
to N.J.S.A. 43:15B-1 et seq., there is hereby established a deferred
compensation program for permanent employees of the Borough under
the terms and provisions of the Deferred Compensation Plan of the
Borough of Saddle River (hereinafter called the "plan"), a copy of
which shall be permanently on file in the office of the Borough Clerk.
B. Availability. Permanent employees of the Borough of
Saddle River shall be eligible to enroll in the plan as hereby established,
provided that each such employee meets the requirements of such plan.
C. Terms and conditions.
(1) The first fiscal year of the plan shall end March
31, 1980, and subsequent fiscal years on each March 31.
(2) Each permanent employee of the Borough eligible and
electing to participate must execute and deliver to the Borough a
contract pursuant to the plan before the first day of each fiscal
year, except that for the first fiscal year such contract must be
executed and delivered prior to September 1, 1979.
(3) Any amount deducted from the compensation of employees
on a regular basis pursuant to such contract shall be deposited in
the employee's deferred compensation account.
(4) Each employee participant shall receive, on a quarterly
basis, a summary accounting report as to his deferred compensation
account.
[Amended 4-14-1986 by Ord. No. 444-C]
(5) Such contributions shall be in addition to all other
employee contributions made pursuant to any other law of the State
of New Jersey or United States of America.
D. Administration.
(1) The Mayor, Clerk, Chief Financial Officer/Treasurer
or any Assistant Treasurer is hereby authorized to execute all documents
necessary to implement this section and maintain the plan in full
force and effect.
(2) The Chief Financial Officer/Treasurer shall be the
administrator of the plan.