The City shall make available during the term of the agreement the opportunity for all employees to participate through payroll deduction in a deferred compensation plan (Section 401-K Plan or Section 457 Plan) developed and administered by a carrier designated by the City. The TFCA may recommend to the city a Section 401-K Plan and a Section 457 Plan carrier(s) that the Union prefers.
The Ohio Association of Professional Fire Fighters 457 Deferred Compensation Plan will be one of the Programs designated by the City through payroll deduction. Loan applicants will pay all application and processing fees.