Common use of Safety Employees Retirement Benefit – Tier A – Employees Who Become Members of CCCERA Before January 1, 2013 Clause in Contracts

Safety Employees Retirement Benefit – Tier A – Employees Who Become Members of CCCERA Before January 1, 2013. A. For County employees who become safety members of CCCERA before January 1, 2013, or who are not new members under XXXXX, the retirement formula shall be “3 percent at 50”. The cost of living adjustment (COLA) to the retirement allowance shall not exceed three (3) percent per year. The employee’s final compensation shall be calculated based on a twelve (12) month salary average. This retirement benefit is known as Tier A. Each such employee shall pay nine percent (9%) of his or her retirement base to pay part of the employer’s contribution for the cost of this retirement benefit.

Safety Employees Retirement Benefit – Tier A – Employees Who Become Members of CCCERA Before January 1, 2013. A. For County employees who become safety members of CCCERA before January 1, 2013, or who are not new members under XXXXX, the retirement formula shall be “3 percent at 50”. The cost of living adjustment (COLA) to the retirement allowance shall not exceed three (3) percent per year. The employee’s final compensation shall be calculated based on a twelve (12) month salary average. This retirement benefit is known as Tier A. Each such employee shall pay nine percent (9%) of his or her retirement base to pay part of the employer’s contribution for the cost of this retirement benefit.’s