Common use of California Public Employees’ Retirement System Clause in Contracts

California Public Employees’ Retirement System. The Union and the City have reached agreement on establishing a different level of benefits (two- tiered retirement) for newly hired Miscellaneous employees. Effective upon agreement with the City’s other Miscellaneous bargaining units; the City shall amend its contract with CalPERS. 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. The City provides Miscellaneous employees with the two percent (2%) at fifty-five (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 Section 21329 (April 1, 1971). • Retired Death Benefit of five-hundred ($500.00) 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). The City shall continue to defer that portion of the employee’s contribution paid to CalPERS through Section 414(h)(2) of the Internal Revenue Code pursuant to City of Petaluma Resolution 90-363 N.C.S.

California Public Employees’ Retirement System. The Union and the City have reached agreement on establishing a different level of benefits (two- tiered retirement) for newly hired Miscellaneous employees. Effective upon agreement with the City’s other Miscellaneous bargaining units; the City shall amend its contract with CalPERS. The amended contract shall provide that Miscellaneous employees hired after the effective date of the amendment, 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. The City provides Miscellaneous employees with the two percent (2%) at fifty-five (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 Section 21329 (April 1, 1971). • Retired Death Benefit of five-hundred dollars ($500.00) 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). The City shall continue to defer that portion of the employee’s contribution paid to CalPERS through Section section 414(h)(2) of the Internal Revenue Code pursuant to City of Petaluma Resolution 90-363 N.C.S.

California Public Employees’ Retirement System. The Union and the City have reached agreement on establishing a different level of benefits (two- tiered retirement) for newly hired Miscellaneous employees. Effective upon agreement with the City’s other Miscellaneous bargaining units; the City shall amend its contract with CalPERS. The amended contract shall provide that Miscellaneous employees hired after the effective date of the amendment, 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. The City provides Miscellaneous employees with the two percent (2%) at fifty-five (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 Section 21329 (April 1, 1971). • Retired Death Benefit of five-hundred dollars ($500.00) 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). The City shall continue to defer that portion of the employee’s contribution paid to CalPERS through Section section 414(h)(2) of the Internal Revenue Code pursuant to City of Petaluma Resolution 90-363 N.C.S.

California Public Employees’ Retirement System. The Union Tier 1 Safety – Fire and the City have reached agreement on establishing a different level of benefits (two- tiered retirement) for newly hired Miscellaneous employees. Effective upon agreement with the City’s other Miscellaneous bargaining units; the City shall amend its contract with CalPERS. The amended contract shall provide that Miscellaneous Safety – Police employees hired after 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 – Fire includes the following optional benefits: • Fourth Level - 1959 Survivor's Benefit as provided in Section 21574 (May 4, 1998). • Military Service Credit as provided in Section 21024 (January 4, 1996). • One-Year Final Compensation as provided Section 20042 (November 1, 1980). • Credit for Unused Sick Leave as provided in Section 20965 (November 1, 1980). • Post Retirement Survivors Allowance – fifty percent (50%) as provided by Sections: 21624, 21626, and 21628 (January 1, 1987). • 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). • Post Retirement Survivor Allowance Continues as provided in Section 21635 (January 1, 2000). • Death Benefit Continues as provided in Section 21551 (January 1, 2000) • Prior Service Credit as provided in Section 20055 (January 1, 1950). 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 provide 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 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. The City provides Miscellaneous employees with the two percent (2%) at fifty-five (55) formula retirement plan. The City’s 's contract with CalPERS for Miscellaneous includes the following optional benefits: • Third •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 five-hundred ($500.00) 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 – Fire and Safety – Police employees who are considered by XxxXXXX 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 - Fire employees in the second retirement tier: • Fourth Level - 1959 Survivor's Benefit as provided in Section 21574. • Military Service Credit as provide in Section 21024. • Credit for Unused Sick Leave as provided in Section 20965. • Post Retirement Survivors Allowance as provided by Sections: 21624, 21626, and 21628. • Cost of Living Allowance two percent (2%) as provided by Section 21329. • Retired Death Benefit of $500 as provided in Section 21620. • Post Retirement Survivor Allowance Continues as provided in Section 21635. • Death Benefit Continues as provided in Section 21551. • Prior Service Credit as provided in Section 20055. 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 provide in Section 21024. • Credit for Unused Sick Leave as provided in Section 20965. • Cost of Living Allowance two percent (2%) as provided by Section 21329. • Retired Death Benefit of $500 as provided in Section 21620. • Death Benefit Continues as provided in Section 21551. • Prior Service Credit as provided in Section 20055. Miscellaneous employees who are considered by XxxXXXX to be “classic” members hired after December 28, 2012, the effective date of the amended contract with XxxXXXX, shall receive the 2% at 60 formula retirement plan and the three-year final average compensation. The following optional benefits will remain in effect for Miscellaneous employees in the second retirement tier: • Third Level - 1959 Survivor's Benefit as provided in Section 21573. • 1957 Survivor Allowance as provided in Section 21546. • Military Service Credit as provided in Section 21024. • Credit for Unused Sick Leave as provided in Section 20965. • Cost of Living Allowance two percent (2%) as provided by Section 21329. • Retired Death Benefit of $500 as provided in Section 21620. • Death Benefit Continues as provided in Section 21551. • Prior Service Credit as provided in Section 20055. Tier 3 New Safety employees hired on or after January 1, 2013 who meet the definition of a new CalPERS member under the Public Employees’ Pension Reform Act (PEPRA) shall receive the 2.7% at 57 retirement formula with three-year final average compensation and applicable optional benefits. New Miscellaneous employees hired on or after January 1, 2013 who meet the definition of a new CalPERS member under the Public Employees’ Pension Reform Act (PEPRA) shall receive the 2% at 62 retirement formula with three-year final average compensation and applicable optional benefits. The City shall continue to defer that portion of the employee’s contribution paid to CalPERS through Section section 414(h)(2) of the Internal Revenue Code pursuant to City of Petaluma Resolution 90-363 N.C.S.N.C.S. All employees shall pay an additional three percent (3%) towards PERS retirement. For Classic Safety – Fire and Safety – Police employees, this three percent (3%) is added to the nine percent (9%) member contribution, for a total contribution of twelve percent (12%). Employees subject to the PEPRA formula shall also pay an additional three percent (3%) on top of their required employee contribution, as established annually by PERS. For Classic Miscellaneous employees, this three percent (3%) is added to the seven percent (7%) member contribution, for a total contribution of ten percent (10%). Employees subject to the PEPRA formula shall also pay an additional three percent (3%) on top of their required employee contribution, as established annually by PERS.