[HISTORY: Adopted by the Town Council of
the Town of Lincoln 5-20-2008 by Ord. No. 08-05. Amendments noted where
applicable.]
GENERAL REFERENCES
Officers and employees — See Ch. 40.
Nonunion classified employees, and full-time
elected officials, entitled to benefits under C17-6, employed, or
elected, after July 1, 2008, will be exclusively afforded a Deferred
Compensation Plan 457B, or its equivalent, to be consistent with state
and local government IRS regulations.
The Town of Lincoln will make annual matching contributions up to a maximum of 8% of the employee's annual salary, providing the employee, as defined in § 15-1, elects to enroll and make contributions to the plan. These employer contributions will be posted quarterly, in conjunction with the Town's fiscal calendar. Employee contributions will be deducted from weekly salary compensation in schedule with payroll.
