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HomeMy WebLinkAboutContracts & Agreements_233-2016 SIDE LE17ER TO CURRENT MEMORANDUM OF UNDERSTANDING BETWEEN THE CITY OF REDLANDS AND REDLANDS ASSOCIATION OF FIRE MANAGEMENT EMPLOYEES (RAFME) ACCUMULATED BENEFIT PROGRAM Side Letter Agreement Effective November 15, 2016 between the City of Redlands (City) and the Redlands Association of Fire Management The Memorandum of Understanding between the City and RAFME for the period July 1, 2014 to June 30, 2017 is hereby amended to Include the following The City Council approved the Memorandum of Understanding between the City of Redlands and the Redlands Association of Fire Management Employees on June 21, 2005 allowing the Association to participate In a qualified 401(a) program On June 22, 2005, the members of the Association approved the unit's participation in the Accumulated Benefit Conversion Program offered by Nationwide Financial This agreement shall apply to all members of the unit Members born between January 1, 1965 and December 31, 1966 shall deposit the cash value of all accrued sick leave In excess of 600 hours into the 401(a) program during the second week of November each year to the maximum amount allowable The annual maximum contrfbution Is currently$53,000 Members born outside of these dates will not deposit any of their accrued sick leave to the 401(a) program CITY OF REDLANDS REDLANDS ASSOCIATION 71IRE MAN ENT EMPLOYEES `J2-0/6PAUL FOSTER,MAYOR -J TOPO KI PRESIDENT DATE ADOPTED SIGNED AND APPROVED THIS�DAY OF .sM � 016 x ATTEST DATE X �J X Sam Irwin CI. rk DATE Page 1 of 1 1t/1/2016