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Issue Date: January 25, 2011 <br />County Personnel Ordinance ,,. _„ 4,.,,,,o „P,.,,,~nent or part-time <br />1~,2 Orange County Local Governmental employees ~nul ~llll~ r <br />oin the Local Government emp~oyee's credrt union if they are not <br />permanent) may j <br />already being served by another Credit Union. <br />lo ee may app1y for membership at the <br />17.3 If the conditions listed above exist, the emp Y de osit. <br />Credit Union or in the Personnel De hartBoard DTirect rs of the Cr dit Union, <br />Upon approval of the applications by t <br />the applicant is entitled to all benefits of inembership. <br />18.0 Deferred Compensation <br />advanta es of participation in the County's Deferred Compensation Plan shall be <br />The g em lo ees. <br />made available to all County P Y <br />18.1 Deferred Compensation allows an employee to pay less taxes now in accordance <br />with the Tax Revenue Act of 1978. <br />18.1.1 Orange County has established a legally qualified plan. Such plans set up <br />methods of payroll deductions, for investing your money and crediting it <br />properly, and for providing regular statements of accounts. <br />18.1.2 This is not a regular savings account, its primary purpose is to help in <br />retirement planning. Money may be reimbursed only at retirement or when <br />ent. In severe financial hardship, <br />an employee terminates public emplo 0 1~ event of death, funds would <br />the money may be reimbursed by app <br />go to the employee's beneficiaries. Deferred Compensation does not affect <br />in any way anY other retirement benefits or Social Security benefits. <br />18.1.3 Employees may defer no more than 25% of their gross income (up to a <br />maximum of $7,500) in any one year. <br />18.1.4 Employees interested in enrolling may do so by contacting an enrollment <br />representative of the plan. <br />19.0 Longevity Pay <br />Amended <br />07/Ol/93 <br />19.1 Ge_ ~ <br />The County provides Longevity Pay to recognize long-term service of Permanent <br />employees, both Full Time and Part Time least~l Olyears ofuto al Orange County <br />each workweek) who have completed at Y <br />service as a permanent employee. <br />19.2 Calculatin Lon evi Pa <br />Longevity Pay is calculated by multiplying the employee's base annual salary by <br />the appropriate percentage as follows: <br />Article IV - Page 22 <br />