Common use of PERS Retirement Plan Clause in Contracts

PERS Retirement Plan. The City shall provide retirement benefits through the Public Employee's Retirement System (PERS). The benefit shall be based upon the following PERS Local Miscellaneous formulas, as follows: Tier 1 – PERS 2% @ 55 Full time employees and PERS eligible part time employees hired on or before March 23, 2012 shall contribute 7% of their salary toward the Employee Contribution Rate. The retirement allowance is based on the highest one-year final compensation. Tier 2 – 2% @ 60 Full time employees and PERS eligible part time employees hired after March 23, 2012 shall contribute 7% of their salary toward the Employee Contribution Rate. The retirement allowance is based on the highest 36-months compensation. Tier 3 – 2% @ 62 *New City employees hired after January 1, 2013 who are “new members” under the CalPERS regulations shall contribute one-half of the normal cost as determined annually by XxxXXXX. The retirement allowance is based on the highest 36-months compensation. The City also offers the following optional benefit provisions: Section 20930.3 Military Service Credit as Public Service Section 21573 Third Level of 1959 Survivor Benefits

PERS Retirement Plan. The City shall provide retirement benefits through the Public Employee's Retirement System (PERS). The benefit shall be based upon the following PERS Local Miscellaneous formulas, as follows: Tier 1 – 1-PERS 2% @ 55 Full time employees and PERS eligible part time employees hired on or before March 23, 2012 shall contribute 7% of their salary toward the Employee Contribution Rate. The retirement allowance is based on the highest one-year final compensation. Tier 2 – 2-2% @ 60 Full time employees and PERS eligible part time employees hired after March 23, 2012 shall contribute 7% of their salary toward the Employee Contribution Rate. The retirement allowance is based on the highest 36-months compensation. Tier 3 – 2-2% @ 62 *New City employees Cityemployees hired after January 1, 2013 who are “new members” under the CalPERS regulations shall contribute one-half of the normal cost as determined annually by XxxXXXXCalPERS. The retirement allowance is based on the highest 36-months compensation. The City also offers the following optional potential benefit provisions: Section 20930.3 Military Service Credit as Public Service Section 21573 Third Level of 1959 Survivor Benefits

PERS Retirement Plan. The City shall provide retirement benefits through the Public Employee's Retirement System (PERS). The benefit shall be based upon the following PERS Local Miscellaneous formulas, as follows: Tier 1 – PERS -PERS 2% @ 55 Full time employees and PERS eligible part time employees hired on or before March 23, 2012 shall contribute 7% of their salary toward the Employee Contribution Rate. The retirement allowance is based on the highest one-year final compensation. Tier 2 – 2-2% @ 60 Full time employees and PERS eligible part time employees hired after March 23, 2012 shall contribute 7% of their salary toward the Employee Contribution Rate. The retirement allowance is based on the highest 36-months compensation. Tier 3 – 2-2% @ 62 *New City employees hired after January 1, 2013 who are “new members” under the CalPERS regulations shall contribute one-half of the normal cost as determined annually by XxxXXXXCalPERS. The retirement allowance is based on the highest 36-months compensation. The City also offers the following optional potential benefit provisions: Section 20930.3 Military Service Credit as Public Service Section 21573 Third Level of 1959 Survivor Benefits

PERS Retirement Plan. The City shall provide retirement benefits through the Public Employee's Retirement System (PERS). The benefit shall be based upon the following PERS Local Miscellaneous formulas, as follows: Tier 1 – PERS -PERS 2% @ 55 Full time employees and PERS eligible part time employees hired on or before March 23, 2012 shall contribute 7% of their salary toward the Employee Contribution Rate. The retirement allowance is based on the highest one-year final compensation. Tier 2 – 2-2% @ 60 Full time employees and PERS eligible part time employees hired after March 23, 2012 shall contribute 7% of their salary toward the Employee Contribution Rate. The retirement allowance is based on the highest 36-months compensationcompensation . Tier 3 – 2-2% @ 62 *New City employees hired after January 1, 2013 who are “new members” under the CalPERS regulations shall contribute one-half of the normal cost as determined annually by XxxXXXXCalPERS. The retirement allowance is based on the highest 36-months compensation. The City also offers the following optional potential benefit provisions: Section 20930.3 Military Service Credit as Public Service Section 21573 Third Level of 1959 Survivor Benefits