Single Highest Year. The City's contract with CalPERS provides for the "Single Highest Year" retirement benefit for miscellaneous employees of which “classic member” employees in the unit are included per Government Code section 20042. The retirement benefit is based on the highest annual compensation for the one year during the employee's membership in CalPERS.
Single Highest Year. The City’s contract with the CalPERS provides for the “Single Highest Year” final compensation period for classic member employees, per Government Code Section 20042.
Single Highest Year. For all represented employees on the 3@50 pension formula, the City agrees to provide the employee retirement benefits based on the highest single year (12 highest paid consecutive months) per PERS Contract Section 20024.2.
Single Highest Year. The City's contract with the Public Employees’ Retirement System provides for the "Single Highest Year" retirement benefit for Police Management employees.
Single Highest Year. (a) The City shall contract with PERS to provide the "single highest year retirement compensation formula."
(b) Persons hired by the City after January 1, 2013 who are new employees within the meaning of PEPRA shall be subject to the statutorily mandated final compensation formula under the PEPRA. Persons hired after January 1, 2013 who are defined as “classic members” within the meaning of PEPRA (those persons who were members of PERS or a reciprocal California public pension plan as of December 31, 2012) shall contribute according to Section 5.2(a).
Single Highest Year. The provision of Section 20042 of the Public Employees’ Retirement Law (Single Highest Year) shall apply to safety employee members.
Single Highest Year. The provision of Section 20042 of the Public Employees’ Retirement Law (Single Highest Year) shall apply to miscellaneous employee members hired on or before December 25, 1992. Notwithstanding subsection 2 below, effective for all retirements on or after September 1, 2000, the provisions of Section 20042 shall apply to all miscellaneous employee members and the provisions of Section 20037 shall no longer be applicable.
Single Highest Year. The provision of Section 20042 of the California Government Code (Final Compensation -Single Highest Year) shall only apply to members who are hired or have entered membership prior to the implementation of a CalPERS contract amendment covering future hires which provides a different final compensation period.
Single Highest Year. For all represented employees on the 3@50 pension formula, the City agrees to provide the employee retirement benefits based on the highest single year (12 highest paid consecutive months) per CalPERS Contract Section 20024.2.
Single Highest Year. All employees subject to the single highest year (one-year final compensation) benefit shall fund that benefit 100%, in the amount of 1.681% of CalPERS reportable “compensation earnable,” as it may from time to time exist. Said funding shall be by means of a payroll deduction on a pre-tax basis pursuant to IRS Code Section 414(h)(2). Current employees presently eligible for the “one-year final compensation” benefit who were hired prior to July 1, 1984, will not be required to make the payroll contribution specified in this section. 1959 Survivor Benefits- The CalPERS Retirement Plan has been amended to include the Fourth Level Survivor Benefit for unit employees. All employees shall pay 100% of the monthly cost for this benefit, in addition to the $2.00 monthly cost for the Basic Level 1959 Survivor Benefit.
