Retirement Benefits - are provided through the Public Employees' Retirement System (PERS). The City pays the full 7% employee contribution and reports this contribution to PERS as reportable income. The City's contract also includes 2% at 55 and the ability to "buy back" military service credit.
Retiree Health Benefits - are offered to employees at retirement with the City contributing toward the cost.
Holidays - 100 hours per year.
Vacation - General employees receive vacation time as follows: up to 0 to 3 years - 100 hours; 4 to 8 years - 140 hours; 9 to 13 years - 164 hours; 14 to 17 years - 180 hours; 18 to 22 years - 196 hours; 23 to 27 years - 212 hours; 28+ years - 228 hours.
Sick Leave - General employees receive 96 hours of sick leave annually.
Annual Leave - In lieu of vacation and sick time, professional, supervisory and management employees receive annual leave time. Annual leave will accrue on a bi-weekly basis for twenty-six (26) pay periods a year as follows: 0 to 3 years - 190 hours; 4 to 8 years - 230 hours; 9 to 13 years - 254 hours; 14 to 17 years - 270 hours; 18 to 22 years - 290 hours; 23 to 28 years - 306 hours; 29+ years - 322 hours.
In addition, newly hired supervisors and management employees may be credited with two weeks annual leave upon the date of hire.
Cafeteria Plan - This plan provides the employee with options in selecting the health insurance package that best suits their needs. Other options include long-term care, cancer insurance, critical illness, supplemental universal & term life insurance and flexible benefits plans (health care FSA and dependent care FSA). An employee can elect to waive medical insurance, and be eligible to receive a cash reimbursement or credit towards other options.
Medical Insurance - The City contributes flexible dollars to be applied toward the cost of medical insurance. The medical insurance is provided to employees and eligible dependents through the Public Employees’ Retirement System. There are two Preferred Provider Organizations (PPOs) and two Health Maintenance Organizations (HMOs) available.
Dental & Vision Insurance - Coverage is provided by the City of Thousand Oaks for employees and their eligible dependents.
Life Insurance - General employees receive coverage of 1 X's their annual salary up to $50,000 maximum.
Professional, supervisory and management employees receive $100,000 coverage and $5,000 dependent life policy.
Executives receive $200,000 coverage and $5,000 dependent life policy.
Long-Term Disability - After meeting certain criteria, qualified employees receive 66 2/3% of salary to a maximum dollar amount.
Employee Assistance Plan - Provided for employees and their dependents.
Education - Tuition reimbursement is available for courses taken through a college or university for job-related career courses that have been individually identified and approved.
Deferred Compensation - Amounts vary by employee classification. In addition, employees may voluntarily participate in the City’s 457 plan sponsored by ICMA-RC.
Housing Assistance - The City is a member of the CalPERS Home Loan Program and the Coastal Housing Partnership. Employees may be eligible for financial assistance that can reduce the amount of money needed for down payments, closing costs or refinancing fees.
Veterans Preference - Any veteran who has successfully completed all phases of a selection process for employment with the City shall be granted a final interview regardless of his or her ranking on the eligibility list, providing he or she meets the criteria for an eligible veteran. In order to qualify for Veteran's Preference Points, a DD214 or other acceptable proof of service must be presented at time of application.
Fitness Center - Located in the Civic Arts Plaza. Available to City employees only. A variety of free weights and aerobic equipment is available.
For more detailed benefits information listed by bargaining unit, please go to MOU/Contracts.