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RESOLUTION NO, 79~36 PAGE TWO (C) Retirement Benefits Effective July 1, 1976, or as soon thereafter as practicable, the City shall amend its contract with the Public Employees' Retirement SyStem of the State of California (PERS) so as to improVe the retirement program for said officer by providing military service credit benefits. Thereafter such officer will be permitted to exercise the option to "buy-back" or have "bought-back" on his or her half, his or her prior military service, to the extent permitted and in accordance with the terms and conditions of Section 20930.3 of the California Government Code, with such officer being obligated to "buy-back" all completed military service occurring subsequent to the effective date of the City's con- tract with PERS and the City being obligated to "buy- back" on behalf of such officer military service occurring prior to the effective date of said contract. (d) Option to Convert Termination Payment for Unused Sick Leave to Health Insurance Benefits Effective from and after July 1, 1976, such officer shall have the option to convert that lump sum payment for unused sick leave benefits available to him or her pursuant to the provisions of Section 9-169 of the Santa Ana Municipal Code into an obligation on the part of the City to pay on behalf of said officer and his or her dependents, if any, all health insurance premiums for said officer and any dependents necessary to cause said officer and any designated dependents to receive the full benefits available under the health insur- ance program then maintained by the City on behalf of its employees and their dependents; provided, however, that the City's obligation to pay such premiums shall terminate as soon as one of the following events occurs: i. The payment of said premiums for a period of five (5) yea~s beyond termination of employment; or ii. The payment of premiums, after termination of employment, in a sum equal to one hundred fifty percent (150%) of the amount of said lump sum payment that the officer would have received for unused sick leave benefits had this option not been elected. (e) Disability Insurance. Effective January the full premium for a plan for said officer. 1, 1978, the City shall pay long-term disability insurance (f) Carry Over Benefits.