SUPPLEMENTAL RETIREMENT/DISABILITY INSURANCE PLAN. Effective January 1, 1983, the majority of miscellaneous employees under the City's contract with the State of California Public Employees Retirement System who were covered by the integrated Social Security Program voted to withdraw from participation in the Federal Social Security Program. In lieu of Social Security payments, the City has agreed to pay an amount equal to that percent of individual pay (6.7% payable on the first $32,400 of salary paid in the calendar year) which had been paid by the City to Social Security as of December 31, 1982 to a Supplemental Retirement and Income and Long Term Disability Insurance Plan for those employees previously covered under the integrated PERS/Social Security Plan. Provisions of this plan are described in Berkeley Municipal Code Chapter 04.36.101 (Supplemental Retirement and Income Plan I) as amended and Berkeley Municipal Code Chapter 04.38.101 (Supplemental Retirement and Income Plan II) as amended. All employees hired after July 22, 1988 are in SRIP II. All employees hired prior to July 22, 1988 are in SRIP I unless they chose to enroll in SRIP II prior to December 17, 1988.
SUPPLEMENTAL RETIREMENT/DISABILITY INSURANCE PLAN. All employees hired after July 22, 1988 are in SRIP II. Provisions of this plan are described in Municipal Code Section 04.38.101 et seq., as amended. The Authority has assumed cost for long-term disability insurance for all SRIP II members.
SUPPLEMENTAL RETIREMENT/DISABILITY INSURANCE PLAN. Effective January 1, 1983, the majority of miscellaneous employees under the City's contract with the State of California Public Employees' Retirement System who were covered by the integrated Social Security Program voted to withdraw from participation in the Federal Social Security Program. In lieu of Social Security payments, the City has agreed to pay an amount equal to that percent of individual pay (6.7% payable on the first $32,400 of salary paid in the calendar year) which had been paid by the City to Social Security as of December 31, 1982 to a Supplemental Retirement and Income Plan which provides investment and long-term disability benefits for those employees previously covered under the integrated PERS/Social Security Plan. Provisions of this plan are described in, Berkeley Municipal Code Section 04.36.101 et seq. as amended. This payment is also applicable to those employees hired on or after 1/1/83. All employees hired after July 22, 1988 are in SRIP II. Provisions of this plan are described in Municipal Code Section 04.38.101 et seq., as amended. All employees hired prior to July 22, 1988 are in SRIP I unless they chose to enroll in SRIP II prior to December 17, 1988. The City will assume payment of the cost of current enrollees in the SRIP II optional long-term disability plan effective December 4, 1994. The City will assume the cost for long-term disability insurance for all SRIP II members upon completion of contract negotiations with the insurance carrier, but no later than February 26, 1995.
SUPPLEMENTAL RETIREMENT/DISABILITY INSURANCE PLAN. Effective January 1, 1983, the majority of miscellaneous employees under the then City's contract with the State of California Public Employees' Retirement System who were covered by the integrated Social Security Program voted to withdraw from participation in the Federal Social Security Program. In lieu of Social Security payments, the City has agreed to pay an amount equal to that percent of individual pay (6.7% payable on the first $32,400 of salary paid in the calendar year / or the current applicable rate / amount in effect) which had been paid by the City to Social Security as of December 31, 1982 to a Supplemental Retirement and Income Plan (SRIP) which provides investment and long-term disability benefits for those employees previously covered under the integrated PERS / Social Security Plan which provides investment and long-term disability benefits for those employees previously covered under the integrated PERS / Social Security Plan. The parties mutually acknowledge that the Authority shall assume and incorporate the provision of this plan (described in City of Berkeley Ordinances No. 5864 - N.S. (SRIP I) and No. 5865 - N.S. (SRIP II) as amended.) into an addendum to this Memorandum of Understanding prior to its expiration. The Authority has assumed the cost of long-term disability insurance for all SRIP II members.
