Common use of SAFETY PERS BENEFIT Clause in Contracts

SAFETY PERS BENEFIT. The employees who are sworn peace officers within the unit shall receive the 2% at 50 Safety PERS plan from the Public Employees Retirement System. The intent of the parties is that this plan will go into effect on July 1, 2002 for any peace officers actively employed by the District on that date. However, it is recognized that the effective date may be different based upon requirements of the Public Employees Retirement System. In exchange for going to the 2% at 50 PERS Plan, the Union agrees that the impacted sworn peace officers will drop out of Social Security. The District’s and the employees’ share of Social Security will then be used to help subsidize the costs of this new program. In addition, the Police Services Officers’ COLA salary increase for the 2001-2002 fiscal year will be reduced by 0.77%. In order for this Safety PERS Plan to go into effect, the peace officers in the unit must vote to go into the plan and must vote to withdraw from Social Security. If at some future date, PERS re-imposes a District contribution on the regular 2% at 55 School Employee Plan, the parties agree to reopen negotiations on the topic of the employees’ cost of this retirement benefit enhancement. In addition, the District will initiate and pay for a PERS actuarial study on the 3% at 50 PERS option in January 2004.

SAFETY PERS BENEFIT. The employees who are sworn peace officers within the unit shall receive the 2% at 50 Safety PERS plan from the Public Employees Retirement System. The intent of the parties is that this plan will go into effect on July 1, 2002 for any peace officers actively employed by the District on that date. However, it is recognized that the effective date may be different based upon requirements of the Public Employees Retirement System. In exchange for going to the 2% at 50 PERS Plan, the Union agrees that the impacted sworn peace officers will drop out of Social Security. The District’s and the employees’ share of Social Security will then be used to help subsidize the costs of this new program. In addition, the Police Services Officers’ COLA salary increase for the 2001-2002 fiscal year will be reduced by 0.77%. In order for this Safety PERS Plan to go into effect, the peace officers in the unit must vote to go into the plan and must vote to withdraw from Social Security. If at some future date, PERS re-re- imposes a District contribution on the regular 2% at 55 School Employee Plan, the parties agree to reopen negotiations on the topic of the employees’ cost of this retirement benefit enhancement. In addition, the District will initiate and pay for a PERS actuarial study on the 3% at 50 PERS option in January 2004.