The deferred compensation program established by this chapter shall exist and serve in addition to any retirement, pension or benefit system established by the City and no deferral of income under the deferred compensation program shall affect a reduction of any retirement, pension or other benefit provided by law. However, any sum deferred under the deferred compensation program shall not be included for the purpose of computation of any taxes withheld on behalf of any such employee. (Ord. 60-1973. Passed 6-12-73.)