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2002-09-16 CC WS Packet
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2002-09-16 CC WS Packet
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<br />payment at a later date, usually at retirement. <br />Contributions to the program are financed solely by the <br />employee, through payroll deduction. Participation in <br />the deferred compensation plan is mandatory for <br />firefighters, temporary pool employees, and temporary <br />Public Works employees. <br /> <br />I. Retirement Benefits. Under state law, many City <br />employees must participate in the Public Employee's <br />Retirement Association. Retirement benefits accrue <br />from both employee and employer contributions. <br />Contributions to the retirement system are mandatory <br />and are deducted from the employee's salary each <br />payroll period. Firefighters recei ve retirement <br />benefits through the Shakopee Fire Department Relief <br />Association. <br /> <br />1II-3 <br />
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