Employees Hired On or After June 21, 2010. Employees are covered by the CalPERS “2% @ 60” benefit formula. This plan provides 2 percent of pay at age 60 for each year of service credited with the City. Effective September 12, 2011, the City will contribute up to 1 percent of the member’s required contribution (EPMC), and the employee will pay 6 percent of the member’s required contribution.
Appears in 7 contracts
Samples: Employment Agreement, Employment Agreement, Employment Agreement
