(A) Automatic deductions are taken from all city employees' pay, including state and federal withholdings, Medicare (where applicable), Social Security (where applicable), and the Illinois Municipal Retirement Fund. The city also provides the opportunity for voluntary payroll deductions, in which the employee can subtract a chosen amount of their pay to contribute to benefits or other fees.
(B) Examples of voluntary payroll deductions include, but are not limited to:
(1) Union membership dues or fees or Fair Share.
(2) Health insurance. The city offers health insurance which calls for employees' premium contributions to be automatically deducted from their pay, with an option of before taxes.
(3) Deferred compensation. The city offers Section 457 Deferred Compensation Plans, which are a tax-deferred retirement plan that is funded exclusively by an employee's contributions. This plan allows employees to set aside a portion of their pay on a pre-tax basis to supplement their Social Security and other retirement plans.
(4) Life insurance - $10,000 plan.
(Ord. 1061, passed 4-5-21)