§ 2-579. Employee's and city's approval of employee's participation and plan required.

(a)

In order to activate the provisions of this division the individual eligible employees must elect to proceed with the plan by stating such intention in writing to the city manager (or in the case of the city manager, to the mayor). Employees hired after April 23, 1996, shall not be eligible to have employer contributions made to a deferred compensation program established under this division. All employees (as defined in the plan document(s)) may request to have a portion of their salary contributed (salary reductions) to the plan.

(b)

Notwithstanding any provision of this division to the contrary, the city commission shall not be bound to enter into any agreements herein authorized unless it determines, in its discretion, that the best interests of the city will be served by such agreement. Such determination by the city commission shall be final and not subject to review. The commission may condition its approval upon the happening of any event, or the waiver by the employee of any benefit, and the commission may give consideration to monies contributed by the city or by the employee into the city's pension plans. The commission shall consider each employee's request on an individual basis, and the commission's action on one individual shall not be binding precedent on any later action the commission may choose to take with regards to another employee. In addition, the financial liability of the city under the plan authorized by this division shall in all events be limited to the value of its contributions into such plans.

(Ord. No. 3075, § 1, 11-19-84; Ord. No. 951232, § 8, 4-8-96; Ord. No. 980128, § 5, 7-27-98)