The City offers a variety of voluntary benefits that may be purchased separately on a voluntary basis and premiums paid by payroll deduction on an after-tax basis, for most products. Available plans include coverage for:
Group Short Term Disability
Group Whole Life Insurance
Group Critical Illness
Group Hospital Indemnity
Employees have the opportunity to enroll in a voluntary pre-paid legal program. By enrolling in this plan, a participant will have 24-hour direct access to attorneys who will provide a variety of legal assistance and services such as those listed below. Additional services may also be provided at discounted rates.
When you retire, you will want to maintain your current lifestyle. Social Security and pension plan payments are not intended to replace all of your income at retirement. The Deferred Compensation Plan is a tax deferred savings plan that can be used at retirement to supplement your retirement income stream.
Contributions are taken from your gross salary before Federal Withholding taxes are calculated
Contributions are invested in the products of your choice.
You do not pay Federal Withholding income taxes on your investment contributions or earnings until you receive the money.
Social security taxes on contribution amounts continue to be deducted from your gross salary.
Governed by Section 457 of the Internal Revenue Code.
Maximum contribution: 100% of gross taxable salary or $19,500 (whichever is less) as of January 1, 2020.