Tier. 2 For employees hired on or after September 15, 2012, including employees hired after January 1, 2013 who do not meet the definition of “new member” under Gov’t Code 7522.04(f) the Town will provide Tier 2 retirement benefits to include the 2% at 60 retirement benefit (Gov’t Code 21353). Employees in Tier 2 shall: - Contribute 7% towards the employee share of the PERS retirement benefit. - Use PERS 36-month final average compensation. - Be eligible for PERS Fourth Level of 1959 Survivor benefits.
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Tier. 2 For employees hired on or after September 15, 2012, including employees hired after January 1, 2013 2013, who do not meet the definition of “new member” under Gov’t Code 7522.04(f) the Town will provide Tier 2 retirement benefits to include the 2% at 60 retirement benefit (Gov’t Code 21353). Employees in Tier 2 shall: - Contribute 7% towards the employee share of the PERS retirement benefit. - Use PERS 36-month final average compensation. - Be eligible for PERS Fourth Level of 1959 Survivor benefits.
Appears in 1 contract
Samples: Los Gatos Town Employees
Tier. 2 For employees hired on or after September 15, 2012, including employees hired after January 1, 2013 who do not meet the definition of “new member” under Gov’t Code 7522.04(f) the Town will provide Tier 2 retirement benefits to include the 2% at 60 retirement benefit (Gov’t Code 21353). Employees in Tier 2 shall: - Contribute 7% towards the employee share of the PERS retirement benefit. - Use PERS 36-month final average compensation. - Be eligible for PERS Fourth Level of 1959 Survivor benefits.
Appears in 1 contract
Samples: Los Gatos Town Employees
