[Adopted 6-12-1995 by Ord. No. 1590]
The City of Kalamazoo Deferred Compensation Plan ("the Plan") is hereby established.
[Amended 6-24-1996 by Ord. No. 1620]
As used in this article, the following terms shall have the meanings indicated:
COMPENSATION
All payments made by the City of Kalamazoo to a member as remuneration for services rendered.
KMEA MEMBER
A person employed by the City and represented by the Kalamazoo Municipal Employees Association who is properly enrolled in the Plan.
MEMBER
Both a nonunion member and a KMEA member.
NONUNION DISTRICT COURT EMPLOYEE
Those persons who work in the 9-1 District Court but are not members of a union.
NONUNION MEMBER
A person employed by the City who is not a member of a bargaining unit (commonly called an "exempt" employee) and who is properly enrolled in the Plan.
[Amended 5-1-2000 by Ord. No. 1700]
A. 
Commencing July 1, 1995, each person exempt member shall become a member of the plan.
B. 
Commencing January 1, 1996, each person employed by the City who is represented by the KMEA, AFSCME or ATU shall become a member of the plan.
[Amended 3-6-2006 by Ord. No. 1798]
C. 
Commencing January 1, 1998, each nonsworn member of the Kalamazoo Police Officers Association shall become a member of the plan.
[Amended 6-24-1996 by Ord. No. 1620; 2-15-1999 by Ord. No. 1667; 5-1-2000 by Ord. No. 1700; 1-8-2001 by Ord. No. 1713]
A. 
Commencing July 1, 1995, each exempt member of the plan, and the City on behalf of each such member, shall contribute to the plan. Effective March 1, 1999, the amount of each contribution shall be 1 1/2% of the compensation paid to said member by the City. Said member's contribution shall be paid via payroll deduction.
B. 
Commencing January 1, 1996, each KMEA member of the plan shall contribute to the plan. The amount of the contribution shall be no less than 0.5% of the compensation paid to the KMEA member by the City. The City shall also contribute to the plan on behalf of those KMEA members who choose to contribute more than the required 0.5%. The City's contribution will be 0.5 of the sum contributed by KMEA members in excess of said 0.5%. The City's contributions shall not, however, exceed 1% of the KMEA member's compensation. On and after January 1, 2001, the amount of the contribution from each KMEA member shall be no less than 1% of the compensation paid to each such member by the City. The City's contribution will be 0.5 of the sum contributed by each KMEA member not to exceed, however, 1% of the KMEA member's compensation.
C. 
Commencing January 1, 1998, each nonsworn member of the Kalamazoo Police Officers Association and the City on behalf of each such member shall contribute to the plan. The amount of each contribution shall be 1% of the compensation paid to said member. Said member's contribution shall be paid via payroll deduction.
D. 
The contributions required above shall not preclude the members from voluntarily contributing more, so long as that greater sum is not in excess of that permitted by law.
A. 
The plan shall be administered by one or more third party administrators, which shall be approved by the City Commission. If more than one administrator is offered, the member shall have the right to choose one. The City Commission may, from time to time, change the administrators.
B. 
The plan shall conform in all respects (e.g., the maximum and minimum amounts which may be contributed, the nature of permissible investments, and the terms and conditions relating to the subsequent withdrawal of funds within the plan) with all applicable state and federal law, including Section 457 of the Internal Revenue Code (as it currently exists or may hereafter be amended).