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EVERETT POLICE MANAGEMENT ASSOCIATION <br />PAGE 19 <br />11.5 Deferred Compensation. <br />11.5.1 The City will contribute into the City-sponsored Section 457 Deferred Compensation <br />Program 6.0% of the respective Lieutenant and Captain base monthly salary as stated <br />in Article 11. <br />The deferred compensation is separate pay and is not part of the base monthly salary <br />as codified in the City of Everett Basic Salary Schedule Ordinance. The provision is <br />subject to the City’s deferred compensation rules and regulations adopted by City <br />Council and IRS regulations, and the computation of retirement contributions and <br />pension benefits shall be governed by applicable state law. Per RCW 41.26.030, <br />employees in a leave without pay status will not be considered as receiving basic <br />salary and will not be eligible for a contribution to their Section 457 deferred <br />contribution program. <br /> <br />Employees who exceed the IRS annual contribution maximum prior to the final <br />contribution in the last pay period of the year will forfeit any City contribution that <br />exceeds the allowable contribution maximum prior to year end. <br /> <br />New employees will begin receiving the pre-taxed deferred earned compensation in <br />the pay period following enrollment process completion <br />The Association members may choose to contribute additional amounts to the foregoing <br />Section 457 Deferred Compensation Program, up to the amount allowed by the <br />applicable IRS rules (provided, however, that the City's contribution obligation shall be <br />limited to 6% of the appropriate base monthly salary). <br /> <br />11.6 Specialty Pay. <br /> <br />S.W.A.T. Lieutenant shall receive 2% of base salary. <br /> <br />Investigations Lieutenant and the Investigations Captain 1% of base pay. <br />