Common use of Defined Benefit Plan Clause in Contracts

Defined Benefit Plan. All employees, hired prior to January 1, 2010, will be covered under the Municipal Employees’ Retirement System (MERS) Defined Benefit Plan. Effective July 1, 2018, all employees hired prior to January 1, 2010, will be covered by the following bridged benefit: Service credit earned through June 30, 2019 will have the following benefits levels: • B-4, 2.5% multiplier, RS 50, Frozen FAC-3, F55/25, and 10-year vesting. o Frozen FAC-3 is determined by taking the highest consecutive 36-months from the date of hire to the date of the bridge; June 30, 2019. Service credit earned beginning on July 1, 2019 will have the following benefit levels:

Defined Benefit Plan. All employees, hired prior to January 1June 23, 20102008, will be covered under the Municipal Employees’ Retirement System (MERS) Defined Benefit Plan). Effective July 1, 2018, all employees employees, hired prior to January 1June 23, 20102008, will be covered by the following bridged benefit: Service credit earned through June 30, 2019 2018 will have the following benefits levels: • B-4, 2.5% multiplier, RS 50, Frozen FAC-3, F55/25, and 10-year vesting. o Frozen FAC-3 is determined by taking the highest consecutive 36-months from the date of hire to the date of the bridge; June 30, 20192018. Service credit earned beginning on July 1, 2019 2018 will have the following benefit levels:

Defined Benefit Plan. All employees, hired prior to January July 1, 20102008, will be covered under the Municipal Employees’ Retirement System (MERS) Defined Benefit Plan. Effective July 1, 2018, all employees hired prior to January July 1, 20102008, will be covered by the following bridged benefit: Service credit earned through June 30, 2019 2018 will have the following benefits levels: • B-4, 2.5% multiplier, RS 50, Frozen FAC-3, F55/25, and 10-year vesting. o Frozen FAC-3 is determined by taking the highest consecutive 36-months from the date of hire to the date of the bridge; June 30, 20192018. Service credit earned beginning on July 1, 2019 2018 will have the following benefit levels:

Defined Benefit Plan. All employees, hired prior to January 1, 2010, employees will be covered under the Municipal Employees’ Employees= Retirement System (MERS) Defined Benefit Plan). Effective July 1, 2018, all employees hired prior to January 1, 2010, will be covered by the following bridged benefit: Service credit earned through June 30, 2019 2018 will have the following benefits benefit levels: • B-4, 2.5% multiplier, RS 50, Frozen FAC-3, F55/25F50/25, D2, and 10-year vesting. o Frozen FAC-3 is determined by taking the highest consecutive 36-months from the date of hire to the date of the bridge; June 30, 20192018. Service credit earned beginning on July 1, 2019 2018 will have the following benefit levels: