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ICMA -RC <br />The City of Little Canada provides a tax shelter through the <br />International City Management Association - Retirement Corporation. <br />This retirement savings program is optional. You may have both <br />PERA and an ICMA -RC retirement account. If enrolled in PERA, the <br />City does not match contributions to ICMA -RC. The City <br />Administrator may opt -out of PERA for this program, subject to <br />Minnesota Statutes. <br />Employees may defer a maximum of 25 percent of total salary, or <br />$7,500 per year, whichever is less. With the ICMA -RC plan, <br />employees have the flexibility to increase, decrease, stop, and <br />restart contributions as often as they wish, subject to the <br />City's approval. <br />12 <br />Page 44 <br />