CALPERS. The City contracts with CalPERS for retirement benefits. The definitions of “new member” and “classic member” are set forth below:
CALPERS. The City contracts with CalPERS for retirement benefits.
CALPERS. In the event that Consultant employs, contracts with, or otherwise utilizes any CalPers retirees in completing any of the Services performed hereunder, such instances shall be disclosed in advance to the City and shall be subject to the City’s advance written approval.
CALPERS. For 2017 CCCERA’s monthly premium subsidy is a set dollar amount and is not a percentage of the premium charged by the plan. Employee Only $746.47 Employee + 1 $1,492.94 Employee + Family $1,940.82 For 2018 if there is an increase in the monthly premium charged by a medical plan, CCCERA and the employee will each pay fifty percent (50%) of the monthly increase that is above the amount of the 2017 plan premium. The fifty percent (50%) share of the monthly medical plan increase paid by CCCERA is in addition to the amounts paid by CCCERA listed above for plan year 2017.
CALPERS. Engeland will be enrolled into the California Public Employees Retirement System (CalPERS). The terms of the contract between City and CalPERS and applicable law shall govern the eligibility for and level of benefits to which Engeland is entitled. Based on Engeland’s hire date and date of entry into CalPERS, Engeland shall be classified as a “new member” as defined by Government Code Section 7522.04(e). With respect to retirement compensation and all other relevant respects, City will comply with Government Code Section 7522 et. seq., including but not limited to the employee cost-share, the cap on pension benefits, and the three-year average for calculating final compensation. As a new member, retirement benefits are pursuant to the California Public Employee’s Retirement Reform Act of 2013 (PEPRA) Section 7522.10, employees hired on or after January 1, 2013, will have a retirement formula of 2% @ 62 and will pay 50% of the normal CalPERS retirement cost. Employee contribution is currently set at 6.25% and is subject to change based on CalPERS actuarial. CalPERS formula and benefit are subject to change based on future CalPERS law modifications and City policy. The City does not participate in Social Security, nor is it currently enrolled for State Disability Insurance.
CALPERS. EMPLOYEE shall be enrolled in the California Public Employees Retirement System (“CalPERS”) in the appropriate CalPERS pension plan as determined by XxxXXXX, which the City’s believes will be the CITY’s third tier safety retirement formula plan. The third tier safety retirement plan is the CalPERS “2.7 at age 57 Full Formula” plan benefit. EMPLOYEE shall pay Fifty Percent (50%) of the normal cost contribution as mandated by the California Public Employees’ Pension Reform Act of 2013 (“PEPRA”) and attendant statutes and regulations. The final retirement based compensation calculation for this tier is the average for the highest thirty-six (36) consecutive months.
CALPERS. The California Public Employees’ Retirement System (CalPERS) Local Safety Plan provides retirement benefits to eligible CMFA safety employees under the 3% at 55 formula (Section 21363.1) . The City shall pay the employees’ required retirement contribution to CalPERS (the Employer-Paid Member Contribution is 9% of compensation earnable) and this amount shall be added to the base salary as defined in Article 3.1 for retirement calculation purposes (i.e. calculation of final compensation). The City’s payment of the employees’ required retirement contribution to CalPERS shall be reported to CalPERS as “compensation earnable” in accordance with Section 20636(c)(4) of the California Government Code. Subject to the concurrence and approval of all affected parties, the City agrees to implement procedures to amend the CalPERS Safety Plan to provide Government Code 21363.2 (3%@50) retirement benefits to be effective in January 2010, or as soon thereafter as permitted by XxxXXXX. Pursuant to CalPERS regulations, this new formula will apply to all employees that are in active status on the date this amendment takes effect. This new formula will apply to each year of eligible service credited with the City of Costa Mesa. After the CalPERS contract has been amended to provide the 3%@50 benefit, the City also agrees to amend the CalPERS Safety Plan to provide CalPERS Section 20903 (Two Years Additional Service Credit) option as soon thereafter as permitted by XxxXXXX.
CALPERS. By: ------------------------------ Name: Title: CREDIT LYONNAIS NEW YORK By: /s/ Xxxxxxx X. Xxxxx ------------------------------ Title: First Vice President THE FOOTHILL GROUP, INC. By: ------------------------------ Name: Title: XXXXXX XXXXXXX SENIOR FUNDING, INC. By: ------------------------------ Name: Title: SUMITOMO MITSUI BANKING CORPORATION By: /s/ Xxxxxxx X. Xxxx ------------------------------ Title: General Manager BAYERISHE HYPO UND VEREINSBANK AG, NEW YORK BRANCH By: /s/ Xxxx X. Xxxxxxx ------------------------------ Title: Director By: /s/ Xxxxxxx X. Xxxxxxxxx ------------------------------ Title: Associate Director XXXXX XXXXX SENIOR INCOME TRUST By: Xxxxx Xxxxx Management as Investment Advisor By: ------------------------------ Name: Title: XXXXX XXXXX CDO III, LTD. By: Xxxxx Xxxxx Management as Investment Advisor By: ------------------------------ Name: Title: XXXXX XXXXX CDO IV, LTD. By: Xxxxx Xxxxx Management as Investment Advisor By: ------------------------------ Name: Title: COSTANTINUS XXXXX XXXXX CDO V, LTD. By: Xxxxx Xxxxx Management as Investment Advisor By: ------------------------------ Name: Title: SPCP GROUP LLC By: ------------------------------ Name: Title: SUNAMERICA SENIOR FLOATING RATE FUND INC. By: Xxxxxxxxx Capital Partners LLC as its subadvisor By: ------------------------------ Name: Title: DEUTSCHE BANK TRUST COMPANY AMERICAS By: ------------------------------ Name: Title: AURM CLO 2002-1 LTD. By: Xxxxx Xxx & Farnham Incorporated, as Investment Manager By: /s/ Xxxxxxxx X. Xxxx ------------------------------ Title: Senior Vice President AIM FLOATING RATE FUND By: INVESCO Senior Secured Management, Inc. as Attorney in Fact By: ------------------------------ Name: Title: CHARTER VIEW PORTFOLIO By: INVESCO Senior Secured Management, Inc. as Investment Advisor By: ------------------------------ Name: Title: DIVERSIFIED CREDIT PORTFOLIO LTD. By: INVESCO Senior Secured Management, Inc. as Investment Adviser By: ------------------------------ Name: Title: TCW SELECT LOAN FUND, LIMITED By: TCW Advisors, Inc., as its Collateral Manager By: ------------------------------ Name: Title: By: ------------------------------ Name: Title:
CALPERS. CalPERS" shall mean the California Public Employees' Retirement System, an agency of the State of California.
CALPERS. Employee shall continue to be included in the City's Safety Plan with the California Public Employees' Retirement System ("CalPERS") as a Classic member as required by law. Employee shall contribute the total "employee contribution" established by CalPERS. The City must comply with the requirements of law and CalPERS rules and regulations governing the CalPERS retirement program, and makes no promises regarding any particular level of benefits that will be provided under that program.
