HomeMy WebLinkAboutRES 2006-80(Due to error in duplicate Resolution No. 2006--47
this Resolution number has been changed to 2006--80).
Resolution No. 2006-,'47
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
DIAMOND BAR ESTABLISHING A COMPENSATION PLAN
CONSISTING OF SALARY RANGES FOR ALL CLASSES OF
EMPLOYMENT AND BENEFITS FOR ALL CLASSES OF
EMPLOYMENT EFFECTIVE JUNE 6, 2006 IN ORDER TO INCLUDE
THE POSITION OF PLANNING TECHNICIAN; RESCINDING
RESOLUTION NO. 2006-38 IN ITS ENTIRETY.
WHEREAS, the City Council of the City of Diamond Bar has adopted and
amended the annual budget for fiscal year 2005-2006;
WHEREAS, the City Council of the City of Diamond Bar wishes to establish
salary ranges (Attachment 1, Schedule A -F) for the compensation of its
employees, including cost of living adjustments and compliance with minimum
wage requirements; and
WHEREAS, it is necessary to assign each position to a job classification number
that reflects the various levels as either non-exempt full-time (Schedule A),
exempt full-time (Schedule B), exempt full-time management (Schedule C),
executive management (Schedule D), non -benefited part-time (Schedule E) or
benefited part-time (Schedule F) (Schedule A -F attached); and
WHEREAS, it is necessary to establish benefits provided as compensation to
employees of the City (Schedule G); and
WHEREAS, the operations of the City now merit the inclusion of a Planning
Technician in Schedule A; and
WHEREAS, it is necessary from time to time to establish comprehensive job
classifications and salary schedules to fix the rate of compensation to be paid to
employees of the City;
NOW, THEREFORE BE IT RESOLVED, the City Council of the City of Diamond
Bar, does hereby repeal all previous salary resolutions and establishes salary
ranges for non-exempt full-time, exempt full-time, executive -management, non -
benefited part-time and benefited part-time as outlined in Salary Schedules A -F
and previous rules and regulations resolutions establishing benefits provided to
employees.
PASSED, ADOPTED AND APPROVED this sixth day of June 2006.
Carol He rera, Mayor
2006--47
I, TOMMYE A. CRIBBINS, City Clerk of the City of Diamond Bar, do
hereby certify that the foregoing Resolution was passed, adopted
and approved at a regular meeting of the City Council of the City of
Diamond Bar held on the sixth day of June 2006, by the following
vote:
AYES: COUNCIL MEMBERS: Chang, Tanaka, Tye, MPT/Zirbes,
e
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
ATTEST:
Tommye A. Cribbins, City Clerk
City of Diamond Bar
2.006-•47
2006••4
7
Schedule A
CITY OF DIAMOND BAR
COMPENSATION PLAN BY POSITION
FY 2005-2006
FULL TIME NON-EXEMPT POSITIONS
(Job Classifications 1000 - 1599)
Effective 06/06/06
RANGE
JOB TITLE
A
B
C
D
E
F
G
1037
Office Assistant
12.89
13.53
14.21
14.92
15.66
16.45
17.27
1,030,9079
1,082.4533
1,136.5760
1,193.4048
1,253.0750
1,315.7288
1,381.5152
2,233.63
2,345,32
2,462.58
2,565.71
2,715.00
2,850.75
2,993.26
26,803.61
28,143,79
29,550.98
31,028.52
32,579.95
34,208.95
35,919.40
1141
Account Clerk 11
14.17
14.88
15.62
16.40
17.22
18.08
18.99
Community Services Coordinator
1,133.5194
1,190.1954
1,249.7051
1,312.1904
1,377,7999
1.446,6899
1,519.0244
Office Assistant 1/
2,455.96
2,578.76
2,707.69
2,843.08
2,985.23
3,134,49
3,291.22
29,471.50
30,945.08
32,492.33
34,116.95
35,822.80
37,613.94
39,494.63
1203
Parks Maintenance Worker It
%94
15.69
16.48
17.30
18.16
19.07
20.03
Street Maintenance Worker it
1,195.5221
1,255.2982
1,31B.0632
1,383.9663
1,453.1646
1,525.8229
1,602.1140
2,590.30
2,719.81
2,855.80
2,998.59
3,148.52
3,305.95
3,471.25
31,083.58
32,637.75
34,269.64
35,983.12
37,782.28
39,671.39
41,654.96
1257
Senior Account Clerk
15.62
16.40
17.22
18.08
18.98
19.93
20.93
1, 249.2619
1,311,7250
1,377.3112
1,446.1768
1,518.4856
1,594.4099
1,674.1304
2,706.73
32,480.81
2,842.07
34,104.85
2,984.17
35,810.09
3,133.38
37,600.60
3,290.05
39,480.63
3,454.55
41,454.66
3,627.28
43,527.39
1365
Administrative Assistant
16.116
17.28
18.15
19.05
20.01
21.01
22.06
Permit Technician
1,316.7681
1,382.5435
1,451.6707
1,5242542
1,600.4669
1,680.4903
1,764.5146
2,852.87
2,995.51
3,145.29
3,302.55
3,467.68
3,641.06
3,823.12
34,234 X41
35,946.13
37,743.44
39,630.61
41,612.14
43,692.75
45,877.38
1437
Accounting Technician
17.86
18.75
19.69
20.67
21.70
22.79
23.93
Neighborhood Improvement Officer
1,428.4366
1,499.8584
1,574.8513
1,653.5939
1,736.2736
1,823.0872
1,914.2416
Plaitnieg Technrclan ;.,'.
3,094.95
3,249.69
3,412.18
3,582.79
3,761.93
3,950.02
4,147.52
Recreation Specialist
37,139.35
38,996.32
40,946.13
42,993.44
45,143.11
47,400.27
49,770.28
Senior Administrative Assistant
1460
Accountant 11
18.87
19.81
20.81
21.85
22.94
24.08
25.29
Building Inspector
1,509.6964
1,585.1812
1,664.4403
1,747.6623
1,835.0454
1,926.7977
2,023.1376
Junior Engineer
3,271.01
3,434.56
3,606.29
3,786.60
3,975.93
4,174.73
4,383.46
Parks &MaintInspector /Technician
39,252.11
41,214.71
43,275.45
45,439.22
47,711.18
50,096.74
52,601.58
1480
Public Information Coordinator
23.57
24.74
25.98
27.28
28.64
30.08
31.58
1,885.2198
1,979.4608
2,078.4548
2,182.3775
2,291.4964
2,406.0712
2,526.3748
4,084.64
4,288.87
4,503.32
4,728.48
4,954.91
5,213.15
5,473.81
49,015.71
51,466.50
54,039.82
56,741.82
59,578.91
62,557.65
65,685,74
1490
Desktop Support Technician
24.01
25.21
26.47
27.79
29.18
30.64
32.18
1,920.80,14
2,016.8415
2,117.6836
2,223.5677
2,334.7461
2,451.4834
2,574.0576
4,161.74
4,369.82
4,588.31
4,817.73
5,058.62
5,311.55
5,577.12
49,940.134
52,437.86
55,059.77
57,812.76
60,703.40
63,738.57
66,925.50
2006••4
7
RANGE JOB TITLE
1635 Assistant Engineer
Assistant Planner
Development Services Associate
Management Analyst
Parks & Maintenance Supervisor
Recreation Supervisor
1752 Senior Neighborhood improvement Officer
1897 Parks & Maintenance Superintendent
Public Works Maintenance Superintendent
Recreation Supervisor 11
CITY OF DIAMOND BAR
COMPENSATION PLAN BY POSITION
FY 2005-2006
FULL TIME EXEMPT POSITIONS
(Job Classifications 1600 -1999)
A
B
C
D
20.30
21.32
22.39
23.50
1,624.3551
1,705.5729
1,790.8515
1,880.3941
3,519.44
3,695.41
3,880.18
4,074.19
42,233.23
44,344.89
46,562.14
48,890.25
Schedule B
Effective 06/06/06
E F G
24.68
25.91
27.21
1,974.4138
2,073.1345
2,176.7912
4,277.90
4,491.79
4,716.38
51,334.76
53,901.50
56,596.57
21.83
22.92
24.06
25.27
26.53
27.86
29.25
1,746.1819
1,833.4910
1,925.1656
2,021.4239
2,122.4951
2,228.6198
2,340.0508
3,783.39
3,972.56
4,171.19
4,379.75
4,598.74
4,828.68
5,070.11
45,400.73
47,670.77
50,054.31
52,557.02
55,184.87
57,944.12
60,841.32
23.57
24.74
25.98
27.28
28.64
30.08
31.58
1,885.2210
1,979.4820
2,078.4561
2,182.3789
2,291.4979
2,406.0728
2,526.3764
4,084.65
4,288.88
4,503.32
4,728.49
4,964.91
5,213.16
5,473.82
49,015.75
51,466.53
54,039.85
56,741.85
59,578.94
62,557.89
65,685.79
1920
Senior Management Analyst
24.01
25.21
26.47
27.79
29,18
30.64
32.18
1,920.8014
2,016,8415
2,117.6836
2,223.5677
2,334.7461
2,451.4834
2,574.(
4,161.74
4,369.82
4,588.31
4,617.73
5,05&62
5,311.55
5,57
49,940.84
52,437.88
55,059.77
57,812.76
60,703.40
63,738,57
66,92_ --
1987
Associate Engineer
24.68
25.92
27.21
28.57
30.00
31.50
33.08
Associate Planner
1,974.6218
2,073.3528
2,177.0205
2,285.8715
2,400.1651
2,520.1733
2,646.1820
Executive Assistant
4,278.35
4,492.26
4,716.88
4,952.72
5,200.36
5,460.38
5,733.39
Senior Accountant
51,340.17
53,907.17
56,602.53
59,432.66
62,404.29
65,524.51
68,800.73
1993
Senior Planner
27.75
29.14
30.60
32.13
33.74
35.42
37.19
2,220.3926
2,331.4122
2,447.9829
2,570.3820
2,698.9011
2,833.8462
2,975.5385
4,810.85
5,051.39
5,303.96
5,569.16
5,847.62
6,140.00
6,447.00
57,730.21
60,616.72
63,647.55
66,829,93
70,171.43
73,680.00
77,364.00
1996
Assistant to the City Manager
28.80
30.24
31.75
33.34
35.01
36.76
38.60
2,304.0543
2,419.2570
2,540.2198
2,667.2308
2,800.5924
2,940.6220
3,087.6531
4,992.12
5,241.72
5,503.81
5,779.00
6,067.95
6,371.35
6,689.92
59,905,41
62,900.68
66,045.72
69,348.00
72,815.40
76,456.17
80,278.98
1998
Network/ GIS Engineer
29.57
31.05
32.60
34.23
35.95
37.74
39.63
2,365.7892
2,484.0787
2,608.2826
2,738.6968
2,875.6316
3,019.4132
3,170.3838
5,125.88
5,382.17
5,651.28
5,933.84
6,230.54
6,542.06
6,869.17
61,510.52
64,586.05
67,815.35
71,206.12
74,766.42
78,504.74
82,429.98
1999
Senior Engineer
35.04
36.80
38.64
40.57
42.60
44.73
4
2,803.4738
2,943.6475
3,090.8299
3,245.3714
3,407.6400
3,578.0220
3,756.'
6,074.19
6,377.90
6,696.80
7,031.64
7,383.22
7,752.38
8,140.00
72,890.32
76,534.84
80,361.58
84,379.66
88,598.64
93,028.57
97,680.00
1006--47
Schedule C
CITY OF DIAMOND BAR
COMPENSATION PLAN BY POSITION
FY 2005-2006
1
2006--47
FULL TIME EXEMPT MANAGEMENT POSITIONS
(Jot) Classifications
2000 - 2899)
Effective 06/06/06
RANGE
JOB TITLE
A
B
C
b
E
F
G
2300
Human Resources Manager
30.65
32.18
33.79
35.48
37.25
39.12
41.07
Public Works Services Manager
2,451.8910
2,574.4856
2,703.2098
2,838.3703
2,980.2889
3,129.3033
3,285.7685
5,312.43
5,578.05
5,856.95
6,149.80
6,457.29
6,780.16
7,119.17
63,749.17
66,936.62
70,283.46
73,797.63
77,487.51
81,361.89
85,429.98
2400
Public Information Manager
31.58
33.16
34.82
36.56
38.39
40.30
42.32
Recreation Services Manager
2,526,3564
2,652.6742
2,785.3080
2,924.5734
3,070.8020
3,224.3421
3,385.5592
5,473.77
5,747.46
6,034.83
6,336.58
6,653.40
6,986.07
7,335.38
65,685.27
68,969.53
72,418.01
76,038.91
79,840.85
83,832.90
88,024.54
2571
Building Oficial
31.93
33.53
35.21
36.97
38.82
40.76
42.80
City Clerk
2,554.7709
2,682.5094
2,816.6349
2,957.4666
3,105.3400
3,260.6070
3,423.6373
Planning Manager
5,535.34
5,812.10
6,102.71
6,407.84
6,728.24
7,064.65
7,417.86
66,424.04
69,745.24
73,232.51
76,894.13
80,738,84
84,775.78
89,014.57
1
2006--47
Schedule D
CITY OF DIAMOND BAR
COMPENSATION PLAN BY POSITION
FY 2005-2006
EXEMPT EXECUTIVE MANAGEMENT POSITIONS
(Job Classifications 2900 - 3900)
2006-•47
Effective 06106/06
RANGE JOB TITLE
A
8
C
D
E
F
G
2985 City Engineer/Public Works Director
42.64
44.77
47.01
49.36
51.83
54.42
57.14
Community Development Director
3,411.3556
3,581.9234
3,761.0196
3,949.0706
4,146.5241
4,353.8503
4,571.5428
Community Services Director
7,391.27
7,760.83
8,148.88
8,556.32
8,984.14
9,433.34
9,905.01
Finance Director
88,695.25
93,130.01
97,786.51
102,675.83
107,809.63
113,200.11
118,860.11
Information Systems Director
3172 Assistant City Manager
46.76
49.09
51.55
54.13
56.83
59.67
62.66
3,740.4865
3,927.5108
4,123.8863
4,330.0807
4,546.5847
4,773.9139
5,012.6096
8,104.39
8,509.61
8,935.09
9,381.84
9,850.93
10,343.48
10,860.65
97,252.65
102,115.28
107,221.04
112,582.10
118,211.20
124,121.76
130,327.85
2006-•47
1
CITY OF DIAMOND BAR
COMPENSATION PLAN BY POSITION
FY 2005-2006
PART-TIME/ HOURLY NON-EXEMPT! NON -BENEFITED POSITIONS
(Job Classifications 500 - 899)
Schedule E
Effective 06/06106
RANGE JOB TITLE A B C D E F G
515 Community Services Worker 7.56 7.95 8.35 8.77 9.19 9.66 10.14
537 Community Services Leader] 8.27 8,67 9.36 9.99 10.66 11.32 11.90
753 Community Services Leader It 9.35 9.99 10.66 11.32 12.00 12.68 13.34
Intern
Facility Attendant I
Maintenance Worker 1
770 Facility Attendant 11 12.89 13.54 14.21 14.91 15.67 16.44 17.27
Maintenance Worker
775 Community Services Coordinator 14.1 B 14.87 15.62 16.41 17.21 18.09 18.98
Public Information Specialist
800 Engineering Aide 15.61 16.39 17.20 18.08 18.98 19.93 20.92
PART-TIME/HOURLY NON-EXEMPT/ BENEFITED POSITIONS
(Job Classifications 900 - 999)
2006--47
Schedule F
Effective 06/06/06
RANGE
JOB TITLE
A
B
C
D
E
F
G
937
Community Services Leader/
8.27
8.67
9.36
9.99
10.66
11.32
11.90
953
Community Services Leader It
9.35
9.99
10.66
11.32
12.00
12.68
13.34
960
Office Assistant
12.89
13.54
14.21
14,91
15,67
16.44
17.27
987
Neighborhood Improvement Officer
17.86
18.74
19.69
20.68
21.70
22.79
23.93
2006--47
C
U
1
Schedule G
Effective 06/06/06
CITY OF DIAMOND BAR
COMPENSATION PLAN
FY 2005-2006
BENEFITS
Benefits_
Eligibility
Details
Benefit Allotment
City
Designated officials,
A monthly allotment of $820 (pro -rated for
regular full-time and
regular part-time employees) which can be
regular part-time
applied to selected benefit options.
employees upon hire.
a) Members of the City Council, Executive
Management and employees defined as
full-time exempt receives an additional
$30 per month.
b) Premiums for selected benefits options
are paid from the monthly benefit
allotment. The total of all premiums for
selected benefits that exceed the
monthly health benefit allotment are paid
at the employees' expense as a bi-
weekly pre -taxed payroll deduction.
c) Employees who are not encumbering
their entire benefit allotment have those
funds applied to a Section 457 deferred
compensation plan offered through the
International City Management
Association ICMA .
Health
Benefit
Designated officials,
Health coverage offered through the
Allotment
regular full-time and
California Public Employees' Retirement
regular part-time
System (CalPERS). Employees may select
employees upon hire
from two HMO plans and two PPO options.
or during the annual
Premiums vary depending on the health
open enrollment
plan selected. If health coverage is
period.
selected, the premium is deducted from the
monthly benefit allotment.
Dental
City*1
Designated officials,
Two dental plans are available (Delta Care
Benefit
regular full-time and
Prepaid or Delta Dental DPO) to designated
Allotment
regular part-time
officials and full time and regular part time
employees upon hire
employees and their eligible dependents.
or during the annual
*The City pays for employee coverage. If
open enrollment
dependent coverage is selected, the
period,
premium is deducted from the monthly
benefit allotment.
Delta Care
Delta Care is a pre -paid dental plan, which
offers affordable HMO coverage. This
option provides orthodontics coverage.
Delta Dental
Delta Dental is Delta's Preferred Option
(DPO) plan, which allows visits to any
dentist of choice. The program provides the
maximum benefit when using a DPO
dentist. DPO dentists are Delta dentists
who have agreed to charge DPO patients
reduced fees.
2006--47
Schedule G- continued
Effective 06/06/06
Vision
City*/
Designated officials,
*The City pays for employee coverage. If
Benefit
regular full-time and
dependent coverage is selected, the
Allotment
regular part-time
premium is deducted from the monthly
employees upon hire
benefit allotment. Vision Services Plan
or during the annual
(VSP) network provides exams, prescription
open enrollment
glasses, contact lenses, and a second pair
period.
of glasses each year, Co a s apply.
Life/ ADD
City
Designated officials,
Life and Accidental Death and
Insurance
regular full-time and
Dismemberment (ADD) Insurance
regular part-time
is provided to all designated officials
employees upon hire.
($10,000 benefit) and full time and regular
art time employees $50,000 benefit).
Supplemental
Employee,
Designated officials,
If supplemental life insurance is selected,
Life Insurance
through the
regular full-time and
the premium is deducted from the monthly
benefit
regular part-time
benefit allotment. Supplemental insurance
allotment
employees upon hire.
is purchased in increments of $10,000 up to
This is an optional
$300,000. A spouse is eligible up to half
benefit.
the amount selected by the employee in
increments of $10,000. The cost for each
$10,000 of coverage is based on age,
State Disability
Employee,
Designated officials,
This benefit provides affordable, worker -
Insurance (SDI)
through
regular full-time,
funded benefits to eligible workers suffering
mandatory
regular, seasonal,
a full or partial loss of wages due to
payroll
and intermittent part-
disabilities which are not work related for up
deduction
time employees upon
to 12 months. Disability also includes
hire.
elective surgery and disabilities related to
re nano or childbirth.
Short-term &
City
Designated officials,
This benefit provides income replacement in
Long-term
regular full-time, and
the event of a covered disability at 60% of
Disability
regular part-time
salary up to a maximum of $1500 per week.
STDILTD
employees upon hire.
Retirement
City pays
Designated officials,
A comprehensive retirement through the
both the
regular full-time, and
Public Employees' Retirement System
employer's
regular part-time
(PERS). Full time or regular part time
and the
employees upon hire.
employees of the City are automatically
employee's
enrolled as a member of PERS and do NOT
contribution
participate in Social Security. To become
vested in PERS an employee must be a
member for a minimum of five years.
The current retirement formula is 2%@55
and benefits are based on the following:
years of service (service credit); age at
retirement; and highest salary for three
consecutive vears.
Retirement-
City/
Seasonal and
An employee's contribution rate is 6.2% on
Social Security
Employee
Intermittent part-time
wages up to the maximum provided by law.
Shared
employees upon hire.
The employer's tax rate is the same.
Election workers and emergency workers
are exempt from coverage
2006-•47
1
IJ
1
Schedule G- continued
Effective 06/06/06
1959 Survivor
City/
Designated officials,
This benefit, provided through CalPERS
Benefit
Employee,
regular full-time and
Retirement, is paid along with other death
through
regular part-time
benefits, whether or not the employee was
mandatory
employees upon hire.
eligible to retire at the time of their death.
payroll
The monthly benefit amount formula
deduction
depends on the number of eligible
survivors.
Employee
City
Designated officials,
Face-to-face assessment, treatment, and
Assistance
regular full-time and
follow-up to help resolve a broad range of
Program (EAP)
regular part-time
personal, work, and family problems,
employees upon hire.
Employees and eligible family members can
receive up to 5 -sessions per incident with
professional counselors for early
intervention and treatment.
Section 125
Employee
Designated officials,
At the beginning of the plan year, each
Cafeteria Plans/
regular full-time, and
participating employee selects an amount
Reimbursement
regular part-time
up to the maximum set by the City for each
Accounts
employees upon hire.
plan. The amount selected is calculated
This is an optional
into a bi-weekly, pre -taxed payroll
benefit.
deduction.
a) Insurance Plan Premium Conversion -
Should the monthly cost of health care
insurance premiums exceed the benefit
allotment and result in payroll
deductions, the amount of the qualifying
deduction may be designated to be paid
with pre-tax dollars.
b) Healthcare Flexible Spending Account -
Also known as a Healthcare
Reimbursement Account, the employee
may designate pre-tax dollars, up to a
maximum of $2,500 per calendar year for
out of pocket healthcare expenses not
covered by their medical, dental, or
vision insurance plans.
c) Dependent Care Flexible Spending
Account- Also known as a Day Care or
Childcare Reimbursement Account, the
designated pre-tax dollars, up to a
maximum of $5,000 per household- per
calendar year, must be related to
expenses which are for dependent care
that enables the employee to remain
gainfully employed.
COBRA
Employee
Designated officials,
The Consolidated Omnibus Budget
regular full-time, and
Reconciliation Act of 1985 (COBRA)
regular part-time
provides for the continuation of health care
employees, enrolled
coverage to certain employees who
in qualifying health,
terminated employment and beneficiaries of
dental, vision, and
employees who die, become disabled or are
EAP plans.
divorced. Employees become eligible for
continued coverage upon termination of
service, whether voluntary or not (other than
termination for gross misconduct),
retirement or reduction in hours worked.
2006--47
Schedule G- continued
Effective 06/06/06
2006--47
For these employees and their dependents,
continued coverage is available for the time
period set forth by law, at their expense.
Medicare
City/
Designated officials,
Pursuant to Revenue Billing 86-68 of the
Employee,
regular full-time and
Internal Revenue Code, all employees hired
through
all part-time
after March 31, 1987 has 1.45 percent of
mandatory
employees upon hire.
their base salary deducted from their
payroll
paycheck to be paid to Medicare. The City
deduction
matches the 1.45 percent as mandated by
law.
Deferred
Employee
Designated officials,
A Section 457 deferred compensation plan
Compensation
regular full-time and
is made available through the International
regular part-time
City Management Association (ICMA)
employees upon hire.
Retirement Corporation. Employees not
encumbering their entire health benefit
allotment will have those excess funds
deferred into this plan. Employees may
also elect to have additional contributions at
their expense as a pre -taxed payroll
deduction. Total deferral contributions are
not to exceed limits under Section 457 of
the Internal Revenue Code.
Automobile
City
Executive
A monthly car allowance of $150 in lieu of
Allowance
Management
mileage reimbursement.
(Ranges 2900- 3900)
upon hire.
Tuition
City
Regular full-time, and
Full-time and regular part-time (on a pro -
Reimbursement
regular part-time
rated basis) employees are eligible to
employees upon hire.
receive reimbursement in the amount of
$1500 per fiscal year, for college -level or
university -level educational courses.
Personal
Employee
Regular full-time, and
Interest-free loans between $250 and
Computer Loan
regular part-time
$2,500 for the purpose of financing a
Program
employees upon hire.
personal computer, a printer, and/or City -
compatible software are available to eligible
employees so they can learn and gain
experience by working with a personal
computer away from the office and outside
of regular business hours. An employee
may purchase a more expensive system,
but he/she must pay the balance over
$2,500. The loan covers 90% of the total
price of the equipment/software being
purchased. The employee pays the
remaining 10% of the purchase price at the
time of purchase. Loans are made on a
first-come, first-served basis based on
available funds. Once the money for the
employee loans has been obligated, the
fund will be replenished through payroll
deductions from outstanding loans. New
loans will then be made as funds become
available. Loans will be for a maximum
term of 24 months and will be repaid
through payroll deductions on a biweekly
basis.
2006--47