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ARTICLE XI <br />11.0 RETIREMENT <br />11.1 CalPERS Retirement Plans <br />A. The terms of the existing miscellaneous plan contract between the City and <br />CaIPERS govern retirement benefits for employees are incorporated by reference <br />herein. <br />B. The California Public Employees' Pension Reform Act (PEPRA) went into effect <br />on January 1, 2013. Based on consideration of various eligibility factors, PEPRA <br />defines each employee as either a "classic" or "new" member of CAPERS. <br />1. "Classic" Members <br />An employee who qualifies as a "classic" member receives a retirement benefil <br />formula of 2.7% n 55, with no social security coverage. <br />The final average compensation period for a "classic" member is the single <br />highest consecutive twelve (12) months (Government Code §20042). <br />2. 'New" Members <br />An employee defined as a "new" member (Government Code §7522.20a) <br />receives a retirement benefit formula of 2% n 62. <br />The final average compensation period for a "new" member is the highest <br />average compensation earned during any consecutive thirty-six (36) month <br />period (Government Code §7522.32a). <br />11.2 Contributions <br />The City shall continue to make contributions to CalPERS on behalf of each individual <br />employee as follows: <br />A. City Contributions <br />1. "Classic" Members <br />The City shall continue to pay each employee's member contribution and report <br />it to CalPERS as compensation eamable [Government Code §20636(C)(4)]. <br />This contribution is known as the Employer Paid Member Contribution <br />(EPMC), which is equal to eight percent (8.0%) of compensation earnable. <br />2019-2022 MOU City of Santa Ana & SEW Part -Time Civil Service Employees U Page 50 c <br />20C-53 z/ �� <br />