Classic Member. 1. A classic member is defined as an employee who meets the definition of a “classic” member for purposes of retirement pension benefits in accordance with the Public Employees Pension Reform Act of 2013. Generally, this includes employees that were hired before January 1, 2013 in the California Public Employees Retirement System (CalPERS) or a reciprocal retirement system with no break in service longer than six months. XxxXXXX ultimately determines who is a classic member in compliance with the law.
Classic Member. Employees hired prior to March 19, 2012 shall contribute on a tax deferred basis 8% toward the PERS employee share. Employees hired after March 19, 2012, shall contribute on a tax deferred basis 7% toward the PERS employee share. New Member: Employees hired after January 1, 2013 shall contribute 6.25% or 50% of the total normal cost (whichever is greater) toward the PERS employee share. Both City and employee contributions shall at the time of separation, belong to the employee. All other PERS contract options and policies in effect as of July 1, 2019, shall continue.
