Common use of - Employees Hired August 15, 2010 and Earlier Clause in Contracts

- Employees Hired August 15, 2010 and Earlier. Employees hired as a full-time employee on or prior to August 15, 2010 will be covered under the 2.5% at 55 formula with the benefits specified below. Provision Government Code Section 2.5% at 55 formula – effective October 8, 2005 21354.4 One Year Final Compensation (Single Highest Year) 20042 Service Credit for Unused Sick Leave 20965 2% Cost-of-Living 21329 Post Retirement Survivor Allowance 21624, 21626, & 21635 Fourth Level of 1959 Survivor Benefit 21574 Pre-Retirement Optional Settlement 2 Death Benefit 21548 Public Service Credit for Periods of Layoff 21022 Public Service for Peace Corps or America Corps: VISTA Service 21023.5 Military Service Credit as Public Service 21024 Public Service Credit for Service Rendered to a Non-Profit Corporation 21026 Military Service Credit for Retired Persons 21027 Local System Service Credit included in Basic Death Benefit 21536 Cancellation of Payments for Service Credit Purchase upon Industrial Disability Retirement 21037 8% Employee Contribution. Employees agree to share the cost of their retirement benefit on a pre-tax basis by paying the full 8% employee contribution. It is the intent of the parties to accommodate employees’ desire that said sums be deducted on a pre-tax basis as deferred income for federal and state tax purposes. The parties believe the contribution may be deducted on a pre-tax basis because the City has filed the CalPERS IRS Code section 414(h)(2) resolution. However, any income tax obligations or penalties arising from such tax treatment shall be the exclusive responsibility of the employee. The City shall not be responsible for any adverse tax treatment for the employees. The City has made no representation regarding such tax treatment and employees shall seek such advice from their personal tax advisors regarding such matters.

- Employees Hired August 15, 2010 and Earlier. Employees hired as a full-time employee employees on or prior to August 15, 2010 and earlier will be covered under the 2.5% at 55 formula with the benefits specified below. Provision Government Code Section 2.5% at 55 formula – effective Effective October 8, 2005 21354.4 One Year Final Compensation (Single Highest Year) 20042 Service Credit for Unused Sick Leave 20965 2% Cost-of-Living 21329 Post Retirement Survivor Allowance 21624, 21626, & and 21635 Fourth Level of 1959 Survivor Benefit 21574 Pre-Retirement Optional Settlement 2 Death Benefit 21548 Public Service Credit for Periods of Layoff 21022 Public Service for Peace Corps or America Corps: VISTA Service 21023.5 Military Service Credit as Public Service 21024 Public Service Credit for Service Rendered to a Non-Non- Profit Corporation 21026 Military Service Credit for Retired Persons 21027 Local System Service Credit included in Basic Death Benefit 21536 Cancellation of Payments for Service Credit Purchase upon Industrial Disability Retirement 21037 8% Employee Contribution. Employees agree to share the cost of their retirement benefit on a pre-tax basis by paying the full 8% employee contribution. It is the intent of the parties to accommodate employees’ desire that said sums may be deducted on a pre-tax basis as deferred income for federal and state tax purposes. The parties believe the contribution may be deducted on a pre-tax basis because the City has filed the CalPERS IRS Code section 414(h)(2) resolution. However, any income tax obligations or penalties arising from such tax treatment shall be the exclusive responsibility of the employee. The City shall not be responsible for any adverse tax treatment for the employees. The City has made no representation regarding such tax treatment and employees shall seek such advice from their personal tax advisors regarding such matters.

- Employees Hired August 15, 2010 and Earlier. Employees hired as a full-time employee employees on or prior to August 15, 2010 and earlier will be covered under the 2.5% at 55 formula with the benefits specified below. Provision Government Code Section 2.5% at 55 formula – effective Effective October 8, 2005 21354.4 One Year Final Compensation (Single Highest Year) 20042 Service Credit for Unused Sick Leave 20965 2% Cost-of-Living 21329 Post Retirement Survivor Allowance 21624, 21626, & and 21635 Fourth Level of 1959 Survivor Benefit 21574 Pre-Retirement Optional Settlement 2 Death Benefit 21548 Public Service Credit for Periods of Layoff 21022 Public Service for Peace Corps or America Corps: VISTA Service 21023.5 Military Service Credit as Public Service 21024 Public Service Credit for Service Rendered to a Non-Profit Corporation 21026 Military Service Credit for Retired Persons 21027 Local System Service Credit included in Basic Death Benefit 21536 Cancellation of Payments for Service Credit Purchase upon Industrial Disability Retirement 21037 8% Employee Contribution. Employees agree to share the cost of their retirement benefit on a pre-tax basis by paying the full 8% employee contribution. It is the intent of the parties to accommodate employees’ desire that said sums may be deducted on a pre-tax basis as deferred income for federal and state tax purposes. The parties believe the contribution may be deducted on a pre-tax basis because the City has filed the CalPERS IRS Code section 414(h)(2) resolution. However, any income tax obligations or penalties arising from such tax treatment shall be the exclusive responsibility of the employee. The City shall not be responsible for any adverse tax treatment for the employees. The City has made no representation regarding such tax treatment and employees shall seek such advice from their personal tax advisors regarding such matters. In addition to the 8% employee share referenced above, “Classic”/Tier One employees have agreed to pay an additional pension contribution of one and one half percent (1.5%) as cost sharing in accordance with Government Code section 20516(b), for a total employee pension contribution of nine and one half percent (9.5%) by the end of this contract. The cost sharing will increase according to the following schedule: Adjustment Effective Date Employee Share Pay Period following CalPERS approval of amended contract 8.5% (0.5% employee increase) Pay Period Ending July 8, 2022 9.0% (0.5% employee increase) Pay Period Ending July 7, 2023 9.5% (0.5% employee increase) City Contribution. The City agrees to pay the employer contribution to CalPERS minus the amount paid by the employee through the cost sharing agreement. All other provisions of the Memorandum of Understanding between the City of Fountain Valley and the Orange County Employees’ Association for the Professional/Technical unit shall remain in full force and effect unless specifically modified or amended. The parties hereto have caused this Side Letter Agreement to be executed this 13th day of October 2021. ORANGE COUNTY EMPLOYEES’ ASSOCIATION FOR THE PROFESSIONAL/TECHNICAL UNIT CITY OF FOUNTAIN VALLEY By: By: Xxx Xxxxxxx (Oct 13, 2021 10:14 PDT) Xxxx Xxxxxx Xxx Xxxxxxx, City Manager By: Xxxx Xxxxxxx APPROVED AS TO FORM: Xxxxx Xxxxx, Attorneys for the City Professional and Technical Unit Represented Side Letter 2021. Revised signature date 10.13.21 Created: By: Status: Transaction ID: 2021-10-13 Xxxxxx Xxxxx (Xxxxxx.Xxxxx@xxxxxxxxxxxxxx.xxx) Signed CBJCHBCAABAA8LlatBBaCOFpOyjOBNfp81FHrCbyM4ew Final Audit Report 2021-10-13 "Professional and Technical Unit Represented Side Letter 2021. Revised signature date 10.13.21" History Document created by Xxxxxx Xxxxx (Xxxxxx.Xxxxx@xxxxxxxxxxxxxx.xxx) 2021-10-13 - 1:31:14 AM GMT Document emailed to Xxxx Xxxxxx (xxxx.xxxxxx@xxxxxxxxxxxxxx.xxx) for signature 2021-10-13 - 1:32:08 AM GMT Email viewed by Xxxx Xxxxxx (xxxx.xxxxxx@xxxxxxxxxxxxxx.xxx) 2021-10-13 - 1:35:04 AM GMT Document e-signed by Xxxx Xxxxxx (xxxx.xxxxxx@xxxxxxxxxxxxxx.xxx) Signature Date: 2021-10-13 - 3:35:36 PM GMT - Time Source: server Document emailed to Xxxx Xxxxxxx (xxxx.xxxxxxx@xxxxxxxxxxxxxx.xxx) for signature 2021-10-13 - 3:35:39 PM GMT Email viewed by Xxxx Xxxxxxx (xxxx.xxxxxxx@xxxxxxxxxxxxxx.xxx) 2021-10-13 - 5:05:42 PM GMT Document e-signed by Xxxx Xxxxxxx (xxxx.xxxxxxx@xxxxxxxxxxxxxx.xxx) Signature Date: 2021-10-13 - 5:06:15 PM GMT - Time Source: server Document emailed to Xxx Xxxxxxx (xxx.xxxxxxx@xxxxxxxxxxxxxx.xxx) for signature 2021-10-13 - 5:06:17 PM GMT Email viewed by Xxx Xxxxxxx (xxx.xxxxxxx@xxxxxxxxxxxxxx.xxx) 2021-10-13 - 5:14:02 PM GMT Document e-signed by Xxx Xxxxxxx (xxx.xxxxxxx@xxxxxxxxxxxxxx.xxx) Signature Date: 2021-10-13 - 5:14:22 PM GMT - Time Source: server Agreement completed.

- Employees Hired August 15, 2010 and Earlier. Employees hired as a full-time employee on or prior to August 15, 2010 will be covered under the 2.5% at 55 formula with the benefits specified below. Provision Government Code Section 2.5% at 55 formula – effective October 8, 2005 21354.4 One Year Final Compensation (Single Highest Year) 20042 Service Credit for Unused Sick Leave 20965 2% Cost-of-Living 21329 Post Retirement Survivor Allowance 21624, 21626, & 21635 Fourth Level of 1959 Survivor Benefit 21574 Pre-Retirement Optional Settlement 2 Death Benefit 21548 Public Service Credit for Periods of Layoff 21022 Public Service for Peace Corps or America Corps: VISTA Service 21023.5 Military Service Credit as Public Service 21024 Public Service Credit for Service Rendered to a Non-Non- Profit Corporation 21026 Military Service Credit for Retired Persons 21027 Local System Service Credit included in Basic Death Benefit 21536 Cancellation of Payments for Service Credit Purchase upon Industrial Disability Retirement 21037 8% Employee Contribution. Employees agree to share the cost of their retirement benefit on a pre-tax basis by paying the full 8% employee contribution. It is the intent of the parties to accommodate employees’ desire that said sums may be deducted on a pre-tax basis as deferred income for federal and state tax purposes. The parties believe the contribution may be deducted on a pre-tax basis because the City has filed the CalPERS IRS Code section 414(h)(2) resolution. However, any income tax obligations or penalties arising from such tax treatment shall be the exclusive responsibility of the employee. The City shall not be responsible for any adverse tax treatment for the employees. The City has made no representation regarding such tax treatment and employees shall seek such advice from their personal tax advisors regarding such matters.

- Employees Hired August 15, 2010 and Earlier. Employees hired as a full-time employee employees on or prior to August 15, 2010 and earlier will be covered under the 2.5% at 55 formula with the benefits specified below. Provision Government Code Section 2.5% at 55 formula – effective Effective October 8, 2005 21354.4 One Year Final Compensation (Single Highest Year) 20042 Service Credit for Unused Sick Leave 20965 2% Cost-of-Living 21329 Post Retirement Survivor Allowance 21624, 21626, & and 21635 Fourth Level of 1959 Survivor Benefit 21574 Pre-Retirement Optional Settlement 2 Death Benefit 21548 Public Service Credit for Periods of Layoff 21022 Public Service for Peace Corps or America Corps: VISTA Service 21023.5 Military Service Credit as Public Service 21024 Public Service Credit for Service Rendered to a Non-Non- Profit Corporation 21026 Military Service Credit for Retired Persons 21027 Local System Service Credit included in Basic Death Benefit 21536 Cancellation of Payments for Service Credit Purchase upon Industrial Disability Retirement 21037 8% Employee Contribution. Employees agree to share the cost of their retirement benefit on a pre-tax basis by paying the full 8% employee contribution. It is the intent of the parties to accommodate employees’ desire that said sums may be deducted on a pre-tax basis as deferred income for federal and state tax purposes. The parties believe the contribution may be deducted on a pre-tax basis because the City has filed the CalPERS IRS Code section 414(h)(2) resolution. However, any income tax obligations or penalties arising from such tax treatment shall be the exclusive responsibility of the employee. The City shall not be responsible for any adverse tax treatment for the employees. The City has made no representation regarding such tax treatment and employees shall seek such advice from their personal tax advisors regarding such matters. City Contribution. The City agrees to pay the employer contribution to XxxXXXX.