The Executive Director may sign contracts and amendments, upon the recommendation of the Chief Human Resources Officer, for employee benefit plans necessary to competitively attract and retain NIRC’s employees, provided that the Board has approved expenditure of the relevant funds through the annual operating budget.
(A) These employee benefit plans may include medical, dental and vision insurance plans, wellness programs, retirement benefit programs, 401(k) and 457 savings programs, pre-tax commuter, parking and health programs, life and accidental death and dismemberment programs, short and long term disability income protection programs, voluntary benefits programs and other programs necessary for NIRC to competitively attract and retain NIRC’s employees, provided that the Board has approved expenditure of the relevant funds through the annual operating budget.
(B) All employee benefit plans signed without Board approval shall be broadly available to all employees who meet objective qualification criteria, which criteria shall be readily accessible to all employees. Except for contributions required under a collective bargaining agreement, no special or employee matching contributions shall be made to any 401(k) plans without Board authority. No employee matching contributions shall be made to any 457 savings plans without Board authority.
(Ord. NIRC 19-01, passed 4-17-2019)