Common use of Pension Reform Proposals Clause in Contracts

Pension Reform Proposals. City and OCEA acknowledge that various legislative and initiative proposals are under consideration and/or pending that, if enacted, will modify or reduce pension benefits for future California state and local government employees. City and OCEA agree that if, during the term of this MOU, there is a change in State law that mandates a different or reduced pension benefit for newly hired City employees, that City may take such actions that are necessary to comply with State law, including, but not limited to, implementation of new, different or reduced pension benefits for newly hired City employees. City shall have no obligation to meet and confer with OCEA on such matters.

Pension Reform Proposals. City and OCEA acknowledge that various legislative and initiative proposals are under consideration and/or pending that, if enacted, will modify or reduce pension benefits for future California state and local government employees. City and OCEA agree that if, during the term of this MOU, MOU there is a change in State law that mandates a different or reduced pension benefit for newly hired City employees, that City may take such actions that are necessary to comply with State law, including, but not limited to, implementation of new, different or reduced pension benefits for newly hired City employees. City shall have no obligation to meet and confer with OCEA on such matters.