The City provides for the Executive level employees the opportunity to enroll in a 401(a) deferred compensation plan. This plan allows participants to defer a percentage of their salary on a pretax basis for investment purposes. ICMA-RC currently administers the 401(a) plan.

IRS Section 401(a) Plan Highlights

1. Participants have a one time opportunity to enroll in this plan. If declined, participant cannot enroll at a later date.
   
2. Participants may elect any percent of pay to contribute to the plan. However, participants may only change election amount once a year, in January.
   
3. The maximum allowable contribution under the IRS is $46,000 per year.
   
4. The City contribution for Non-safety and Safety* Executives is $250 per month.
   *Safety Executives includes the Police Chief and Fire Chief.

The ICMA enrollment packet contains complete details of benefits and exclusions.  The City of Riverside Human Resources Department and ICMA Member Services are also available to answer questions