CALIFORNIA PUBLIC EMPLOYEES Sample Clauses

CALIFORNIA PUBLIC EMPLOYEES. RETIREMENT SYSTEM (CALPERS)‌
Sample 1
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CALIFORNIA PUBLIC EMPLOYEES. RETIREMENT SYSTEM The Association and the City have reached agreement on establishing a different level of benefits (two-tiered retirement) for newly hired Safety – Police and Miscellaneous employees. Effective upon agreement with the City’s other Miscellaneous or Safety bargaining units, the City shall amend its contract with CalPERS. The amended contract shall provide that Safety – Police employees hired after the effective date of the amendment shall receive the 3% at 55 formula retirement plan and the three-year final average compensation; instead of the current benefit of 3% at 50 formula retirement plan and one-year final average compensation. The amended contract shall provide that Miscellaneous employees hired after the effective date of the amendment shall receive the 2% at 60 formula retirement plan and the three-year final average compensation; instead of the current benefit of 2% at 55 formula retirement plan and one-year final average compensation. The establishment of this second tier of benefits shall not affect the benefits currently in effect for employees hired prior to the effective date of the CalPERS contract amendment. Effective June 30, 2001, the City provided Police Safety members with the 3% at 50 formula retirement plan. The City’s contract with CalPERS includes the following optional benefits: • Fourth Level - 1959 Survivor's Benefit as provided in Section 21574 (June 30, 1996). • Military Service Credit as provided in Section 21024 (January 4, 1996). • One-Year Final Compensation as provided in Section 20042 (July 1, 1982). • Credit for Unused Sick Leave as provided in Section 20965 (July 1, 1982). • Cost of Living Allowance two percent (2%) as provided by Section 21329 (July 1, 1982). • Retired Death Benefit of $500 as provided in Section 21620 (July 1, 1982). • Death Benefit Continues as provided in Section 21551 (January 1, 2000). • Prior Service Credit as provided in Section 20055 (July 1, 1982). The City provides Miscellaneous members with the 2% at 55 formula retirement plan. The City’s contract with CalPERS includes the following optional benefits: • Third Level - 1959 Survivor's Benefit as provided in Section 21573 (April 5, 1999). • Military Service Credit as provided in Section 21024 (January 1, 1992). • One-Year Final Compensation as provided Section 20042 (November 1, 1980). • Credit for Unused Sick Leave as provided in Section 20965 (November 1, 1980). • Cost of Living Allowance two percent (2%) as provided by Secti...
Sample 1
CALIFORNIA PUBLIC EMPLOYEES. RETIREMENT SYSTEM Tier 1 Safety – Police employees hired prior to November 15, 2012, the effective date of the contract amendment with California Public Employees’ Retirement System (CalPERS), shall receive the 3% at 50 formula retirement plan. The City's contract with CalPERS for Safety – Police includes the following optional benefits: • Fourth Level - 1959 Survivor's Benefit as provided in Section 21574 (June 30, 1996). • Military Service Credit as provided in Section 21024 (January 4, 1996). • One-Year Final Compensation as provided in Section 20042 (November 1, 1980). • Credit for Unused Sick Leave as provided in Section 20965 (November 1, 1980). • Cost of Living Allowance two percent (2%) as provided by Section 21329 (April 1, 1971). • Retired Death Benefit of $500 as provided in Section 21620 (December 1, 1969). • Death Benefit Continues as provided in Section 21551 (January 1, 2000). • Prior Service Credit as provided in Section 20055 (January 1, 1950). Miscellaneous employees hired prior to December 28, 2012, the effective date of the CalPERS contract amendment, shall receive the 2% at 55 formula retirement plan and the following optional benefits: • Third Level - 1959 Survivor's Benefit as provided in Section 21573 (April 5, 1999). • Military Service Credit as provided in Section 21024 (January 1, 1992). • One-Year Final Compensation as provided Section 20042 (November 1, 1980). • Credit for Unused Sick Leave as provided in Section 20965 (November 1, 1980). • Cost of Living Allowance two percent (2%) as provided by Section 21329 (April 1, 1971). • Retired Death Benefit of $500 as provided in Section 21620 (December 1, 1969). • Death Benefit Continues as provided in Section 21551 (January 1, 2000). • Prior Service Credit as provided in Section 20055 (January 1, 1950). Tier 2 Safety – Police employees who are considered by CalPERS to be “classic” members hired after November 15, 2012, the effective date of the amended contract with CalPERS, shall receive the 3% at 55 formula retirement plan and the three-year final average compensation. The following optional benefits will remain in effect for Safety - Police employees in the second retirement tier: • Fourth Level - 1959 Survivor's Benefit as provided in Section 21574. • Military Service Credit as provided in Section 21024. • One-Year Final Compensation as provided in Section 20042. • Credit for Unused Sick Leave as provided in Section 20965. • Cost of Living Allowance two percent (2%) as provided ...
Sample 1
CALIFORNIA PUBLIC EMPLOYEES. RETIREMENT SYSTEM (CALPERS)‌‌ The City has contracted with CalPERS to provide “Classic” or “Legacy” employees (i.e. employees who are not “new members” as defined under PEPRA) the 2.7% at age 55 formula with “highest single year” effective December 17, 2006 and the 2.0% at 62 with “highest three year average” for New Members as defined by XxxXXXX and PEPRA. Classic/Legacy employees shall continue to pay the employee contribution rate and New Members shall contribute 50% of the “normal cost” of their pension formula as required and defined by XxxXXXX and PEPRA. The City’s contributions to pension shall continue to be outside of (i.e. below the line”) on the Salary Adjustment Form and employees shall not receive a salary decrease as a direct result of an increase in ther CalPERS retirement rate under the CalPERS contract between CalPERS and the City. The employee's contribution will continue to be treated as tax deferred.
Sample 1

Related to CALIFORNIA PUBLIC EMPLOYEES

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • RESTRICTIONS ON EMPLOYMENT OF FORMER STATE OFFICER OR EMPLOYEE The Engineer shall not hire a former state officer or employee of a state agency who, during the period of state service or employment, participated on behalf of the state agency in this agreement’s procurement or its negotiation until after the second anniversary of the date of the officer’s or employee’s service or employment with the state agency ceased.

  • Public Benefits This Agreement provides assurances that the Public Benefits identified below will be achieved and developed in accordance with the Applicable Rules and Project Approvals and with the terms of this Agreement and subject to the City’s Reserved Powers. The Project will provide Public Benefits to the City, including without limitation:

  • CLASSIFICATION OF EMPLOYEES Section 1. A full-time employee shall be deemed to be any employee regularly scheduled to work forty (40) hours per week. A regular employee is one whose employment is reasonably expected to continue for longer than fifteen (15) months.

  • Notification of Employees A. Written notice of layoff shall be given to an employee or sent by mail to the last known mailing address at least fourteen (14) calendar days prior to the effective date of the layoff. Notices of layoff shall be served on employees personally at work whenever practicable.

  • DNR Employees An employee of the Department of Natural Resources may meet the basic eligibility requirement for participation in the Group Insurance Program based on a combination of seasonal and temporary project employment. Eligibility commences after completion of three (3) years of continuous service in which the basic eligibility requirements are met; continues until the employee completes a year in which the basic eligibility requirements are not met; and commences again after the employee meets or is anticipated to meet the basic eligibility requirements in one (1) year.

  • Former Employees All Employees terminating service with the Employer during the Plan Year and who have satisfied the eligibility requirements based on the terms of the Employer's accumulated benefits plans checked below (select all that apply; leave blank if no exclusions):

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • New Employees The Employer agrees to acquaint new Employees with the fact that a Union Agreement is in effect, and with the requirement set out in the Article dealing with Union dues.

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