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that the majority of City Executive Management receive the cost of living adjustment or salary <br />increase. <br />2.2 Benefits <br />2.2.1 Employee Benefits <br />Except as expressly provided for in this Agreement (sick leave, vacation, car allowance, 457 <br />deferred compensation), Clerk of Council shall be entitled to receive the same benefits provided to other <br />Executive Management employees pursuant to Resolution No. 2015-026, as may be amended from time to <br />time by the City Council. These benefits include, but are not limited, to health insurance (medical, dental, <br />vision), holidays, retiree health savings plan, group life and disability insurance, and bereavement leave. <br />2.2.2 Sick Leave Accrual <br />Clerk of Council will accrue 8 hours of sick leave per calendar month of service. <br />2.2.3. Sick Leave Bank <br />Upon employment, Clerk of Council will be provided with a bank of 150 hours of accrued <br />sick leave, <br />2.2.4 Vacation Allowance <br />Upon employment with City, Clerk of Council shall be awarded a bank of 200 hours of <br />vacation leave and shall commence employment accruing vacation at the rate of a five (5) year employee. <br />Cleric of Council shall accumulate regular and management vacation hours in the same manner as City <br />executive managers. <br />2.2.5 CalPERS Memberst ' <br />As a classic member under CalPERS, Clerk of Council will be enrolled in the 2.7% at age 55 <br />benefit formula and shall be responsible for paying eight percent (8%) of CalPERS reportable compensation <br />toward the employer cost of the 2.7% at 55 enhanced retirement formula. This payment is implemented as <br />cost sharing pursuant to Government Code section 20516(f). <br />2.2.6 Life Insurance <br />City will purchase life insurance for Clerk of Council in the amount of time times the Clerk <br />of Council's annual salary not to exceed a maximum of three hundred thousand, dollars ($300,000). <br />2.2.7 Deferred. Compensation <br />Cleric of Council shall receive deferred compensation pursuant to the City's 457 plan in the <br />amount of $10,000 a year. <br />