Common use of CALPERS CONTRACT Clause in Contracts

CALPERS CONTRACT. The City will continue to provide pension benefits to represented employees in accordance with the CalPERS contract in effect on the effective date of this MOU. The City's contract with CalPERS for employees covered by this MOU includes the following options: • Section 20042 (One Year Final Compensation, only applies to classic member employees) • Section 20516 (Employee Cost Share, only applies to classic member employees) • Section 20965 (Credit for Unused Sick Leave) • Sections 21624/ (Post-Retirement Survivor Allowance, only applies classic member 21626 employees) • Section 21620 (Retired Death Benefit of $500) • Section 21329 (COLA of 2%) • Section 21362.2 (3% @ 50 Benefit Formula, only applies to classic member employees) • Section 20903 (Two Years Additional Service – Golden Handshake) • Section 21635 (Post-Retirement Survivor Allowance Continues After Remarriage) • Section 21573 (Third Level of 1959 Survivor Benefits) • Section 21551 (Death Benefit Continues After Remarriage) • Section 20055 (Credit for Service Before CalPERS Contract) • Section 20938 (Limited Prior Service Credit to Employees on Contract Date) • Section 21536 (Local System Service Credit for Basic Death Benefit) • Section 20481 (Transfer of Local System Assets to CalPERS) • Section 21024 (Military Stats 76) • Section 21023.5 (Peace Corps/AmeriCorps Service) • Section 21027 (Military Retiree) • IRC 414(h)(2) (Pre-tax payroll deduction plan for member contributions and service credit purchase)

CALPERS CONTRACT. The City will continue to provide pension benefits to represented employees in accordance with the CalPERS contract in effect on the effective date of this MOU. The City's contract with CalPERS for fire safety employees covered by this MOU includes the following options: • Section 20037 (Three Year Final Compensation, only applies to Tier 2) • Section 20042 (One Year Final Compensation, only applies to classic member employeesTier 1) • Section 20516 (Employee Cost Share, only applies to classic member employeesTier 1) • Section 20965 (Credit for Unused Sick Leave) • Sections 21624/ 21624/21626 (Post-Retirement Survivor Allowance, only applies classic member 21626 employeesto Tier 1) • Section 21620 (Retired Death Benefit of $500) • Section 21329 (COLA of 2%) • Section 21362.2 (3% @ 50 Benefit Formula, only applies to classic member employeesTier 1) • Section 21362 (2% @ 50 Benefit Formula, only applies to Tier 2) • Section 20903 (Two Years Additional Service – Golden Handshake) • Section 21635 (Post-Retirement Survivor Allowance Continues After Remarriage) • Section 21573 (Third Level of 1959 Survivor Benefits) • Section 21551 (Death Benefit Continues After Remarriage) • Section 20055 (Credit for Service Before CalPERS Contract) • Section 20938 (Limited Prior Service Credit to Employees on Contract Date) • Section 21536 (Local System Service Credit for Basic Death Benefit) • Section 20481 (Transfer of Local System Assets to CalPERS) • Section 21427 (Disability Retirement - Maximum 50% of Final Compensation) • Section 21024 (Military Stats 76) • Section 21023.5 (Peace Corps/AmeriCorps Service) • Section 21022 (Public Service Layoff) • Section 21548 (Pre-Retirement Option 2W) • Section 21027 (Military Retiree) • IRC 414(h)(2) (Pre-tax payroll deduction plan for member contributions and service credit purchase)

CALPERS CONTRACT. The City will continue to provide pension benefits to represented employees in accordance with the CalPERS contract in effect on the effective date of this MOU. The City's contract with CalPERS for fire safety employees covered by this MOU includes the following options: • Section 21363.2 (3% @ 50 formula for Tier 1 classic employees only) • Section 21362 (2% @ 50 formula for Tier 2 classic employees only) • Section 7522.25(d) (2.7% @ 57 formula for new members) • Section 20042 (One Year Final Compensation, only applies to Compensation for Tier 1 classic member employeesemployees only) • Section 20516 20037 (Employee Three Year Final Compensation for Tier 2 classic employees and new members only) • Section 20516(a) (Employees Cost Share, only applies to Tier 1 and Tier 2 classic member employeesemployees only) • Section 20965 (Credit for Unused Sick Leave) • Sections 21624/ 21624/21626 (Post-Retirement Survivor Allowance, only applies classic member 21626 employees) • Section 21620 (Retired Death Benefit of $500) • Section 21329 (COLA of 2%) • Section 21362.2 (3% @ 50 Benefit Formula, only applies to classic member employees) • Section 20903 (Two Years Additional Service – Golden Handshake) • Section 21635 (Post-Retirement Survivor Allowance Continues After Remarriage) • Section 21573 (Third Level of 1959 Survivor Benefits) • Section 21551 (Death Benefit Continues After Remarriage) • Section 20055 (Credit for Service Before CalPERS Contract) • Section 20938 (Limited Prior Service Credit to Employees on Contract Date) • Section 21536 (Local System Service Credit for Basic Death Benefit) • Section 20481 (Transfer of Local System Assets to CalPERS) • Section 21427 (Disability Retirement - Maximum 50% of Final Compensation) • Section 21024 (Military Stats 76) • Section 21022 (Public Service Layoff) • Section 21548 (Pre-Retirement Option 2W) • Section 21027 (Military Retiree) • Section 21023.5 (Peace Corps/AmeriCorps Service) • Section 21027 (Military Retiree) • IRC 414(h)(2) (Pre-tax payroll deduction plan for member contributions and service credit purchase)