Common use of Tier 2 Retirement Clause in Contracts

Tier 2 Retirement. All County employees hired into the Public Services Unit (BU01), Supervisory Unit (BU05), or the Clerical (BU13) on or after April 17, 2011, and prior to January 1, 2013, will be placed in a lower second tier of retirement benefits in compliance with applicable laws and pension plan provisions. County employees in the Public Services Unit (BU01), Supervisory Unit (BU05), and the Clerical (BU13) hired prior to April 17, 2011 will maintain the current Tier 1 pension plan benefits. Current County employees who promote, transfer, or otherwise change to another bargaining unit in the future will maintain the current Tier 1 pension plan for that new bargaining unit. The second tier pension benefit plan, effective pursuant to Pension Plan amendment on April 17, 2011, is as follows: 9.3.1.1 Retirement formula 2@60; 9.3.1.2 90% benefit cap;

Tier 2 Retirement. 9.3.1 All County employees hired into the Public Services Unit (BU01), Supervisory Unit (BU05), or the Clerical (BU13) on or after April 17, 2011, and prior to January 1, 2013, will be placed in a lower second tier of retirement benefits in compliance with applicable laws and pension plan provisions. County employees in the Public Services Unit (BU01), Supervisory Unit (BU05), and the Clerical (BU13) hired prior to April 17, 2011 will maintain the current Tier 1 pension plan benefits. Current County employees who promote, transfer, or otherwise change to another bargaining unit in the future will maintain the current Tier 1 pension plan for that new bargaining unit. The second tier pension benefit plan, effective pursuant to Pension Plan amendment on April 17, 2011, is as follows: 9.3.1.1 Retirement formula 2@60; 9.3.1.2 90% benefit cap;