A. Employees may voluntarily participate or may be required to participate in one or more eligible deferred compensation plans or qualified defined contribution retirement plans established by the Board pursuant to the provisions of this article.

B. Employee participants in an eligible deferred compensation plan under section 457 of the Internal Revenue Code of 1986, as amended, may authorize the City in writing to make voluntary reductions or deductions in their remuneration as provided in an executed deferred compensation agreement. To the extent that employee participants in a qualified defined contribution retirement plan under section 401(a) of the Internal Revenue Code, as amended, are required to make contributions to such plan, employee participants shall authorize the City to pick up such contributions through a one time, irrevocable election made through a written salary reduction agreement. (Ord. No. G-4634, § 3, 2004)