San Francisco County Municipal Code Art. XI-B Officers and Employees Generally

EMPLOYEE DEFERRED COMPENSATION PLAN

Sec. 16.301. Establishment of a Deferred Compensation Plan. Sec. 16.302. Purpose. Sec. 16.320. Administration by Retirement Board. Sec. 16.326. Administrative Costs.

The Retirement Board shall establish and administer a deferred compensation plan. (Amended by Ord. 306-80, App. 6/27/80)

The purpose of this plan is to extend to employees of the City and County of San Francisco and the Superior Court of California, County of San Francisco, certain benefits which ordinarily accrue from participation in a Deferred Compensation Plan. The City and County of San Francisco does not and cannot represent or guarantee that any particular federal or state income, payroll or other tax consequence will occur by reason of an employee's participation in this plan. The participant should consult with his or her own attorney or other representative regarding all taxes consequences of participation of this plan. (Amended by Ord. 306-80, App. 6/27/80; Ord. 178-01, File No. 010941, App. 8/17/2001)

The reasonable and necessary administrative costs of this plan shall be borne by either the City and County of San Francisco, the participants or by any plan administrator appointed hereunder. The administrative costs funded by the City shall not increase above current levels (.01% of City payroll). The Board of Supervisors may carry forward unspent monies from one fiscal year to the next. (Amended by Ord. 306-80, App. 6/27/80; Ord. 334-95, App. 10/27/95)