Orange County NC Website
o~p- ao~o-og~ - 3 <br />~d-s-~d <br />~,~ <br />Current Article IY, Section 9.4 Supplemental Retirement [401 (k) Plan) Employer's <br />Contribution <br />This Employer's Contribution to the 401(k) Plan, effective July 1, .2009, is suspended until June <br />30, 2011. <br />Proposed: Amend Article IY, Section 9.4 Supplemental Retirement [401 (k) Plan) <br />Employee's Contribution <br />9.4 Supplemental Retirement [4~Lan) Contribution <br />Effective <br />Ol/Ol/11 <br />9.4.1 Effective January 1, 2011 Orange County makes a Supplemental Retirement <br />[401(k) Plan] contribution of $27.50 per pay period for each eligible employee <br />for the remainder of the fiscal year, and thereafter as the Board of County <br />Commissioners provides in the annual budget. <br />9.4.2 For this purpose, eligible employees are County employees both full time and part <br />time (regularly scheduled at least 20 hours each workweek) appointed to permanent <br />positions who are members of the N. C. Local Government Employees' Retirement <br />System and who are not sworn law enforcement officers. See Section 9.5 for <br />additional retirement benefits for Law Enforcement Officers. <br />9.4.3 To participate an eligible employee completes the appropriate enrollment form. <br />9.4.4 Coverage is effective with the date of appointment to the permanent position and <br />enrollment in the retirement system. Contributions are suspended for any pay <br />period in which the employee is in leave without pay status for that pay period. At <br />'termination, the County's 401(k) contribution ends. <br />