TIER 4 MISCELLANEOUS EMPLOYEE RETIREMENT a. The County shall establish a Miscellaneous Employee Retirement Tier 4 based upon Government Code Section 31676.1, resulting in a 1.92% at age 60 formula, with a final compensation based upon the highest three-year average compensation pursuant to Government Code Section 31462, and shall have a post-retirement cost-of- living adjustment factor pursuant to Government Code Section 31870 to a maximum annual 2%. This retirement tier shall apply exclusively to employees first hired after implementation of the Miscellaneous Employee Retirement Tier 4.
TIER 4 MISCELLANEOUS EMPLOYEE RETIREMENT. Effective August 12, 2012, the County shall establish a Miscellaneous Retirement Tier 4 for the Engineers and Architects, Non-Supervisory and Supervisory units. Miscellaneous Employee Retirement Tier 4 consists of the 1.92% at age 60 formula prescribed by Government Code Section 31676.1, with a final compensation based upon the highest three-year average compensation pursuant to Government Code Section 31870 to a maximum annual 2%. This retirement tier shall apply exclusively to employees hired on or after August 12, 2012.
