All regular full-time employees of the City of Sacramento, meeting such requirements as may be established by the city council to carry out the provisions of this section, shall be entitled to receive longevity pay on the following basis:
(a) Upon completion of twenty (20) years of service, an employee shall receive yearly thereafter a lump sum of $100 in addition to said employee's regular compensation; said amount to be paid during the month of July of each year next succeeding the completion of said twenty (20) years of service; and
(b) Upon completion of twenty-five (25) years of service, an employee shall receive yearly thereafter a lump sum of $200 in addition to said employee's regular compensation and in addition to the longevity allowance described in paragraph (a) preceding, said amount to be paid during the month of July of each year next succeeding the completion of said twenty-five (25) years of service.
No deductions for retirement system contributions shall be made from any amount paid to an employee for longevity, and such longevity pay shall be excluded from an employee's earnings when computing retirement allowances.
The city council shall, by ordinance, adopt rules and regulations for employee eligibility and administration of the provisions of this section.