FOURTH LEVEL OF 1959 SURVIVOR BENEFITS. The District will amend its PERS contract to provide for the Fourth Level of 1959 Survivor Benefits for Safety Members pursuant to Government Code Section 21574 pursuant to CalPERS requirements. The covered employees will bear all costs for this benefit. To that end, the employer contribution will be deducted from the Member Surplus in the 1959 Survivor Benefits Account until such time as that account is exhausted. Thereafter, deductions will be made from the paychecks of covered employees to cover the employer cost. The employee will continue to be responsible for the employee contribution.
FOURTH LEVEL OF 1959 SURVIVOR BENEFITS. The City amended its contract with PERS to provide Fourth Level of 1959 Survivor Benefits (Section 21574) effective January 4, 1998. Previously, IAFF L-1401 has reimbursed the actual costs incurred by the City, if any, by deduction from the payroll dues deduction. Effective March 31, 2019, the City shall pay the cost to PERS for the Fourth Level Survivor Benefits.
FOURTH LEVEL OF 1959 SURVIVOR BENEFITS. The City amended its contract with PERS to provide Fourth Level of 1959 Survivor Benefits (Section 21574) effective January 4, 1998. The City’s cost (estimated by PERS to be $8.50 per month per covered member) for this benefit shall be funded for several years from any current Fire surpluses in the City’s PERS Survivor Benefit account. When these surpluses are depleted and PERS demands payment for the Fourth Level Survivor Benefits, the IAFF L-1401 shall reimburse the actual costs incurred by the City, if any, by deduction from the payroll dues deduction. The City shall provide the IAFF L-1401 an accounting of credits and debits for which charges have been made.
FOURTH LEVEL OF 1959 SURVIVOR BENEFITS. Employees receive the benefit of the Fourth Level of the 1959 Survivor Benefit, as identified in Government Code Section 21574 with CalPERS. The City has adopted the CalPERS Resolution in accordance with IRS Code section 414(h)(2) and both the employee contribution and the City pickup of the required member contribution are made on a pre-tax basis. However, ultimately, the tax status of any benefit is determined by the law.
FOURTH LEVEL OF 1959 SURVIVOR BENEFITS. Employees shall be covered by the Fourth Level of the 1959 Survivor Benefit as identified in Government Code Section 21574.
