Safety Members. The County shall provide 3% @ 50 Safety Retirement for those employees in this unit in the Classification of Undersheriff, and Sheriff’s Lieutenant.
Safety Members. RETIREMENT PLAN A NEAREST YEAR OF AGE AT MEMBERSHIP EMPLOYEE CONTRIBUTION RATE NEAREST YEAR OF AGE AT MEMBERSHIP EMPLOYEE CONTRIBUTION RATE
Safety Members. Classic Safety Members and New Safety Members shall be provided the pension benefits provided in the MOU between the City and the Xxxxxxxxx Firefighters Association.
Safety Members. The City will pay the employer’s share of the PERS retirement formula, except as modified by the below agreed upon language, and the employees will pay the entire 9% employees’ share for the applicable PERS retirement formula for Public Safety Employees, except as modified by the below agreed upon language. Effective as soon as possible, but no later than ninety (90) days from the effective date of the MOU, and simultaneously with the three percent (3%) increase to the base wage rate, Public Safety Employees shall begin paying an additional three percent (3%) of the employer’s contribution towards PERS. Public Safety Employees total retirement contribution shall be twelve percent (12%). This payment shall be done on a pretax basis in accordance with IRS Code 414 (2). Risk pooling mandated benefits per government code section 200840(e) will be implemented as required. The benefits include:
1. The Pre-Retirement Option 2
Safety Members. A. Tier 1
1. The City shall provide a retirement program for eligible employees of three percent (3%) at age fifty (50) based upon the Single Highest Year.
2. Effective the pay period following adoption of a Resolution ratifying this MOU by the City Council, employees shall pay an amount equal to twelve percent (12%) of reportable compensation toward the costs of the City’s retirement plan. The City shall pay the remaining cost of the plan as defined by the City’s retirement plan.
B. Tier 2 (PEPRA)
1. The City shall provide a retirement program for eligible employees of two-point seven percent (2.7%) at age fifty-seven (57) based upon a three (3) year average final compensation period, and retirement cost of living adjustment which shall be determined by CalPERS.
2. Employees shall pay fifty percent (50%) of the expected total normal cost rate for the benefits that apply to new Safety members on or after January 1, 2013 rounded to the nearest one-quarter of one percent (.25%).
Safety Members. The City will continue its participation in the California Public Employees' Retirement System (CalPERS). Police Safety Members hired prior to October 8, 2011, shall receive the 3% @ 50 formula, highest twelve (12) months for final compensation determination, the Third Level of the 1959 Survivor’s Benefit, Unused Sick Leave Option, and Military Service Credit as Public Service. The CalPERS contract includes Section 20516, Employees Sharing Cost of Additional Benefits. This allows affected employees to share in the cost of the 3% @ 50 enhanced retirement formula. These employees pay four point three two five percent (4.325%) to share in the cost of the 3% @ 50 formula. As applicable, the employee contribution will be made pre-tax. These Police Safety Members will pay the entire nine percent (9%) of the CalPERS employee contribution on a pre-tax basis. Police Safety Members hired between October 8, 2011, and December 31, 2012, or Classic Members, as defined by XxxXXXX, shall receive the 3% @ 55 formula, highest thirty-six (36) months for final compensation determination, the Third Level of the 1959 Survivor’s Benefit, Unused Sick Leave Credit option and Military Service Credit as Public Service. The CalPERS contract includes Section 20516, Employees Sharing Cost of Additional Benefits. This allows affected employees to share in the cost of the 3% @ 55 enhanced retirement formula. These employees pay four point three-two-five percent (4.325%) to cost share for the 3% @ 55 formula. As applicable, the employee contribution will be made pre-tax. These Police Safety Members will also pay the entire nine percent (9%) of the CalPERS employee contribution on a pre-tax basis. New Police Safety Members hired on or after January 1, 2013, who have never been a CalPERS member, have not been a CalPERS member in the past 180 days, and who are not eligible for reciprocity with another California public retirement system as defined by the Public Employees’ Pension Reform Act (PEPRA), and are not a rehire who is formerly a classic member, shall receive the 2.7% @ 57 formula, highest thirty-six (36) months for final compensation determination, the Third Level of the 1959 Survivor’s Benefit, Unused Sick Leave Credit option and Military Service Credit as Public Service. These Police Safety Members will pay the entire CalPERS employee contribution as determined by XxxXXXX on a pre-tax basis.
Safety Members. The following provisions are applicable to County safety employees in the Law Enforcement Unit whose classifications are so designated by the letter S in the PERS STATUS column of Article II of this MOU.
Safety Members. The following provisions are applicable to County safety employees in the Law Enforcement Management Unit whose classifications are so designated by their CalPERS status.
Safety Members. A. Tier 1
1. The City shall provide a retirement program for eligible employees of three percent (3%) at age fifty (50) based upon the Single Highest Year.
2. Effective the first pay period following adoption of a Resolution ratifying this MOU by the City Council, employees and the City shall pay their respective contribution amounts as defined by the City’s retirement plan.
B. Tier 2
1. The City shall provide a retirement program for eligible employees of three percent (3%) at age fifty (50) based upon the Single Highest Year.
2. Employees shall contribute twelve percent (12%) toward the cost of the plan. The City shall pay the remaining cost of the plan as defined by the City’s retirement plan.
C. Tier 3
1. The City shall provide a retirement program for eligible employees of two point seven percent (2.7%) at age fifty-seven (57) based upon a three (3) year average final compensation period, and retirement cost of living adjustment which shall be determined by CalPERS.
2. Employees shall pay fifty percent (50%) of the expected total normal cost rate for the benefits that apply to new Safety members on or after January 1, 2013 rounded to the nearest one-quarter of one percent (.25%).
Safety Members. 1. Tier 1. Tier 1 covers Safety Members hired before March 1, 2015. Overtime shall be computed based upon FLSA standards using a seven (7) day “work period” pursuant to Section 7K of the FLSA, with overtime to be paid for all hours worked over forty (40) in the work period. The following shall be counted as hours worked for purposes of computing overtime: holidays, vacation time, sick time and Compensatory Time Off.
