Public Employees Retirement System (P. E.R.S.) Retirement benefits shall be provided to eligible employees in accordance with the applicable contract between the City and the Public Employees Retirement System (PERS). The use of terms “Classic Member” and “New Member” shall be as defined by XxxXXXX and the Public Employee Pension Reform Act of 2013 (PEPRA).
Public Employees Retirement System (P. E.R.S.) The CITY shall provide and maintain for all employees the State of California Public Employees Retirement System Program. The Plan shall be 2% at 55, pursuant to Section 21251.132 of the California Public Employees' Retirement Law, and shall include the following benefits and conditions:
Public Employees Retirement System (P. E.R.S.) AND GROUP LIFE INSURANCE
Public Employees Retirement System (P. E.R.S.) Note: The California Public Employees’ Pension Reform Act of 2013 (PEPRA), on and after January 1, 2013, requires a public retirement system, as defined, to modify its plan or plans to comply with the act and, among other provisions, establishes new retirement formulas that may not be exceeded by a public employer offering a defined benefit pension plan, setting the maximum benefit allowable for employees first hired on or after January 1, 2013, as a formula commonly known as 2.5% at age 67 for non-safety members, one of 3 formulas for safety members, 2% at age 57, 2.5% at age 57, or 2.7% at age 57. Retirement benefits shall be provided to eligible employees in accordance with the appropriate contract between the City and the Public Employees Retirement System (PERS). The use of terms “Classic Member” and “New Member” shall be as defined by XxxXXXX and the Public Employee Pension Reform Act of 2013 (PEPRA).
