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covered by this MOU. <br />13.5 Military Service Credit as Public Service. Safety employees, and Miscellaneous <br />employees, respectively, may elect to purchase up to four (4) years of service credit for <br />any continuous active military or merchant marine service prior to employment. The <br />employee must contribute an amount equal to the contribution for current and prior <br />service that the employee and the employer would have made with respect to that period <br />of service. The City agrees that, as soon as practicable following Council approval of <br />this MOU and amendment to the CalPERS contract, employees who elect to purchase <br />service credit may do so on a "pre-tax" basis. <br />13.6 3% at 50 Service Retirement Benefit for Safety employees. The City contracts with <br />CalPERS to provide Safety employees who do not qualify as "New Members" under <br />PEPRA with the 3% at 50 Service Retirement benefit. <br />All Safety employees who do not qualify as "New Members" under PEPRA shall pay <br />twelve percent (12%) compensation earnable to pay for the employer portion of the City's <br />CalPERS contribution. This payment shall be paid in accordance with Government Code <br />Section 20516(1). <br />Pre -Taxable Benefit. To the extent permitted by CaIPERS and Internal Revenue Service <br />regulations, the City shall make the above employee deductions pre-tax contributions. <br />13.7 2.7% @ 57 Service Retirement Benefit for "New Member" Safety employees. The City <br />agrees to provide Safety employees who are defined as "New Members" within the <br />meaning of the California Public Employees' Pension Reform Act (PEPRA) of 2013 with <br />the 2.7% @ 57 Service Retirement benefit. <br />Final compensation will be based on the highest annual average compensation earnable <br />during the 36 consecutive months immediately preceding the effective date of his or her <br />retirement, or some other 36 consecutive month period designated by the member. <br />Employees covered under the 2.7% @ 57 retirement formula shall pay one half of the <br />normal cost rate as established each year by CalPERS. <br />Pre -Taxable Benefit. To the extent permitted by CalPERS and Internal Revenue Service <br />regulations, the City shall make the above employee deductions pre-tax contributions. <br />13.8 2.7% at 55 Service Retirement Benefit for Miscellaneous employees. The City contracts <br />with CalPERS to provide Miscellaneous employees who do not qualify as "New <br />Members" under PEPRA with the 2.7% at 55 Service Retirement benefit. <br />The employee's contribution rate for Miscellaneous employees who do not qualify as <br />"New Members" under PEPRA will be to eight (8%) percent compensation earnable. All <br />employee contributions for retirement benefits are paid to the employer portion of the <br />City's CalPERS contribution. This payment shall be paid in accordance with <br />Government Code section 20516(1). <br />50 <br />