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<br />11/05/1997 13:01 <br /> <br />305-755-7722 <br /> <br />City Commission <br />November 20, 1997 <br />Page 2 <br /> <br />NORTH BAV VILLAGE <br /> <br />PAGE 03 <br /> <br />By comparison, vesting schedules and employee matches of other cities are as follows: <br /> <br />/ <br /> <br />A) <br /> <br />A vcntura <br /> <br />/' <br /> <br />B) <br /> <br />Key Biscayne <br /> <br />C) <br /> <br />Pinecrest <br /> <br />12% City Contribution <br />0% Employec Contribution <br />3 Years - 20% Vested <br />4 Years - 40% Vested <br />5 Years. 60% Vested <br />6 Years - 80% Vested <br />7 Years - 100% Vested <br /> <br />11 % City Contribution <br />6% Employee Contribution <br />100% Immediate Vesting <br /> <br />10% City Contribution <br />5% Employee Contribution <br />1 Year - 20% Vested <br />2 Years - 40% Vested <br />3 Years - 60% Vested <br />4 Years - 80% Vested <br />5 Years - 100% Vestcd <br /> <br />There will be no additional leMA Retirement Corporation Management fees associated with thc <br />employees' 401 Money Purchase Program. <br /> <br /> <br />James DiPietro <br />City Manager <br /> <br />(PJfeOM 12101/91) <br /> <br />m:pw <br /> <br />..... <br />