Common use of CONVERSION OF MISCELLANEOUS RETIREMENT TIER 2 SERVICE TO MISCELLANEOUS RETIREMENT TIER 3 SERVICE Clause in Contracts

CONVERSION OF MISCELLANEOUS RETIREMENT TIER 2 SERVICE TO MISCELLANEOUS RETIREMENT TIER 3 SERVICE. a. Effective January 1, 2007, or as soon thereafter as administratively possible, employees currently in Miscellaneous Tier 2 in the Sacramento County Employees’ Retirement System (‘SCERS’) will have the opportunity to make a one-time election to convert to Miscellaneous Tier 3 status, and upon the effective date of such conversion, accrue all future service in Tier 3, at the contribution rates applicable to Tier 3, and with the retirement benefits attributable to the new Tier III service.

CONVERSION OF MISCELLANEOUS RETIREMENT TIER 2 SERVICE TO MISCELLANEOUS RETIREMENT TIER 3 SERVICE. a. Effective January 1, 2007, or as soon thereafter as administratively possible, employees currently in Miscellaneous Tier 2 in the Sacramento County Employees’ ' Retirement System (‘`SCERS’') will have the opportunity to make a one-time election to convert to Miscellaneous Tier 3 status, and upon the effective date of such conversion, accrue all future service in Tier 3, at the contribution rates applicable to Tier 3, and with the retirement benefits attributable to the new Tier III service.

CONVERSION OF MISCELLANEOUS RETIREMENT TIER 2 SERVICE TO MISCELLANEOUS RETIREMENT TIER 3 SERVICE. a. Effective January 1, 2007, or as soon thereafter as administratively possible, employees an employee currently in Miscellaneous Tier 2 in the Sacramento County Employees’ Retirement System (‘SCERS’) will have the opportunity to make a one-time election to convert to Miscellaneous Tier 3 status, and upon the effective date of such conversion, accrue all future service in Tier 3, at the contribution rates applicable to Tier 3, and with the retirement benefits attributable to the new Tier III 3 service.