1992-110-Amending Management Performance And Compensation Plan For Fiscal Tear 1992-93RESOLUTION 1992 -110
RESOLUTION OF THE TOWN OF LOS GATOS
AMENDING MANAGEMENT PERFORMANCE AND
COMPENSATION PLAN FOR FISCAL YEAR 1992 -93
BE IT RESOLVED, by the Town Council of the Town of Los Gatos, that the
amendments to the Management and Compensation Plan for the Town for fiscal year
1992 -93 (a copy of which is attached hereto) are hereby approved.
PASSED AND ADOPTED at a regular meeting of the Town Council of the
Town of Los Gatos, California, held on the 15th day of June, 1992 by the following vote:
COUNCIL MEMBERS:
AYES: Randy Attaway, Joanne Benjamin, Steven Blanton, Brent N. Ventura
NAYES: None
ABSENT: Mayor Eric D. Carlson
ABSTAIN: None
n
SIGNED:
V MAYOR OF THE T N OF LOS GATOS
L S GATOS, CALIFORNIA
ATTEST:
CLERK OF THE TOWN OF \LOS GATOS
LOS GATOS, CALIFORNIA~
AMENDMENTS TO THE MANAGEMENT PERFORMANCE
AND COMPENSATION PLAN
FOR FISCAL YEAR 1992 -93
Salary increase of 4% effective June 21, 1992.
2. 8.9% increase in Level I, Level II and Level III Management Cafeteria Plan.
3. Amend contract with PERS to provide 2% at 55 retirement effective January, 1993,
with Town to take credit towards future total compensation equal to the PERS
contribution increase in any subsequent negotiations that cover the 1994 -95 fiscal year.
The PERS contribution increase is scheduled to begin July 1, 1994.
4. In addition to the current life insurance coverage of $50,000 plus $50,000 AD &D, the
Town will offer the opportunity to purchase additional term life insurance up to twice
the employee's base salary, not to exceed $200,000.
5. The current $120.00 vision reimbursement to be extended to the employee's immediate
family (spouse, unmarried children under 19 living at home, or under 23 and a full -
time student).
6. New Management Performance Evaluation process and Management Performance and
Compensation Plan effective July 1, 1992.
Participation in Flexible Spending Account Program.
MGR047 A: \CNCLRPTS \6 -15 -6 June 10, 1992
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AMENDMENTS TO THE MANAGEMENT PERFORMANCE
AND COMPENSATION PLAN
FOR FISCAL YEAR 1992 -93
Salary increase of 4% effective June 21, 1992.
2. 8.9% increase in Level I, Level II and Level III Management Cafeteria Plan.
3. Amend contract with PERS to provide 2% at 55 retirement effective January, 1993,
with Town to take credit towards future total compensation equal to the PERS
contribution increase in any subsequent negotiations that cover the 1994 -95 fiscal year.
The PERS contribution increase is scheduled to begin July 1, 1994.
4. In addition to the current life insurance coverage of $50,000 plus $50,000 AD &D, the
Town will offer the opportunity to purchase additional term life insurance up to twice
the employee's base salary, not to exceed $200,000.
5. The current $120.00 vision reimbursement to be extended to the employee's immediate
family (spouse, unmarried children under 19 living at home, or under 23 and a full -
time student).
6. New Management Performance Evaluation process and Management Performance and
Compensation Plan effective July 1, 1992.
Participation in Flexible Spending Account Program.
MGR047 A: \CNCLRPTS \6 -15 -6 June 10, 1992