Common use of Tier Three Clause in Contracts

Tier Three. CalPERS Retirement Formula for “New Members” as Defined Under the Public Employees’ Pension Reform Act of 2013 (PEPRA): “New Members” as defined by XXXXX who are hired by the City on or after January 1, 2013 shall be entitled to the retirement formula set forth in PEPRA 23 6.1.3.1 2.0% at 62 Retirement Plan 23 6.1.3.2 PERS Contribution 23

Tier Three. CalPERS Retirement Formula for “New Members” as Defined Under the Public Employees’ ' Pension Reform Act of 2013 (PEPRA): “New Members” as defined by XXXXX who are hired by the City on or after January 1, 2013 shall be entitled to the retirement formula set forth in PEPRA 23 6.1.3.1 2.0% at 62 Retirement Plan 23 6.1.3.2 PERS Contribution 232523

Tier Three. CalPERS Retirement Formula for “New Members” as Defined Under the Public Employees’ Pension Reform Act of 2013 (PEPRA): “New Members” as defined by XXXXX PEPRA who are hired by the City on or after January 1, 2013 shall be entitled to the retirement formula set forth in PEPRA 23 6.1.3.1 2.0% at 62 Retirement Plan 23 6.1.3.2 PERS Contribution 23PEPRA. ‌ This section (including subsections) shall apply to bargaining unit members who were hired on or after January 1, 2013, and who do not qualify for pension reciprocity (not a Classic Member) as stated in Government Code Section 7522.02(c).

Tier Three. CalPERS Retirement Formula for “New Members” as Defined Under the Public Employees’ Pension Reform Act of 2013 (PEPRA): “New Members” as defined by XXXXX PEPRA who are hired by the City on or after January 1, 2013 shall be entitled to the retirement formula set forth in PEPRA 23 6.1.3.1 2.0% at 62 Retirement Plan 23 6.1.3.2 PERS Contribution 23PEPRA.