Tier II. For unit members hired from July 1, 2011 through December 31, 2012, such plan shall be 2.5% at fifty-five (55) and the "single highest year" amendment.
Tier II. All Safety Members hired on or after July 1, 2011 will have a retirement formula that is based on 3.0% @ 55 Plan Full Formula for Safety Members and upon retirement an employee’s “final compensation” will be based on the highest consecutive 36-month average for determining retirement benefits. Employees in Tier II will pay the full employee portion. Tier III All New Safety Members hired on or after January 1, 2013, as is mandated by the Public Employee’s Pension Reform Act of 2013 (PEPRA), will have a retirement formula based on 2.7% @ 57 Plan Full Formula for Safety Members and upon retirement an employee’s “final compensation” will be based the highest consecutive 36 month average. An employee in Tier III will pay 50% of Normal Costs. This amount is provided by CalPERS each year and is subject to change.
Tier II. Taxonomic inventories to define types of benthic communities. An inventory of benthic taxa was compiled during each swim. Taxa were identified either in situ or with the aid of photographs to confirm identification afterward.
a. Hard corals (Order Scleractinia) – to genus and species level whenever possible.
b. Soft corals (Subclass Octocorallia) – genus level
c. Other benthos (such as sponges zoanthids, bryozoans, macroalgae etc) – high taxonomic level (usually phylum plus growth form)
Tier II. All Safety Members hired on or after July 1, 2011 will have a retirement formula that is based on 3.0% @ 55 Plan Full Formula for Safety Members and upon retirement an employee’s “final compensation” will be based on the highest consecutive 36-month average for determining retirement benefits. Employees in Tier II will pay the full employee portion.
Tier II. For employees hired on and after to July 1, 2011, shall be eligible for the 3% @ 55 retirement formula for Local Safety members. The City pays 9% on behalf of the employee share and the unit member pays 9% toward the CalPERS “employer” share, on a “cost sharing” basis, at the same percentage and at the same starting date as the City’s contributions “toward the employee share.” The employee contribution is “compensation earnable” as defined in Government Code section 20636. The City shall continue the highest level of the 1959 survivor benefit.
Tier II. If the Actual Project Cost exceeds the TIER I budget of $11,305,000, the Cities agree to provide TIER II local funding in equal amounts as follows: Local Contribution Federal Match (approximate) Total Funding SLC As necessary to fund the Actual Project Cost, up to $2,500,000 Up to $5,812,500 $8,312,500, maximum SSL As necessary to fund the Actual Project Cost, up to $2,500,000 Up to $5,812,500 $8,312,500, maximum TIER II Subtotal SLC + SSL TIER II contributions, $5,000,000 maximum Up to $11,625,000 $16,625,000, maximum Tiers I and II, Total $8,400,000, maximum $19,530,000, maximum $27,930,000, maximum
Tier II. Employees will pay one hundred percent (100%) of the employee’s share of the plan, but not to exceed eight percent (8.0%). The District will pay all remaining costs of the plan.
Tier II. Unit members hired after January 1, 2011 and before January 1, 2013, shall be CalPERS “employer contribution” share on a “cost sharing basis, at the same percentage and at the same starting date as the City’s contributions “toward the employee contribution share.” The employee contribution share is “compensation earnable” as defined in Government Code Section 20636. The City shall continue the highest level of the 1959 survivor benefit.
Tier II. 4 Tier III......................................................... 4
Tier II. On the Tier II Closing (as defined in Section ------- 3.2 below), Buyer shall pay to Seller (i) $750,000 plus the Tier I Non-Deferred Amount (as calculated in accordance with Section 2.3.1 below) in cash by certified check or by wire transfer and (ii) the Tier I Deferred Amount (as calculated in accordance with Section 2.3.1 below) pursuant to a Deferred Payment Note in the form attached hereto as Exhibit L, with an initial principal --------- balance equal to the Tier I Deferred Amount.
