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<br />14.3 Increased Cost-of-Living Allowance. If, during the term of <br />this Agreement, the City approves an agreement with any <br />other represented bargaining unit in the City to amend the <br />City's contract with CalPERS to provide an annual cost-of- <br />living adjustment to retiree allowances that is greater than <br />the current two percent (2%) maximum amount, employees <br />covered by this Agreement shall be included in a CalPERS <br />contract amendment which will provide them with an annual <br />adjustment amount equal to the highest such amount granted <br />other represented employees of the City. <br /> <br />14.4 2% at 55 for CalPERS "Miscellaneous" Members. CalPERS <br />designated "miscellaneous" employees represented by the <br />Association shall be covered by the 2% at 55 retirement <br />benefit. Prior to this Agreement, employees designated as <br />CalPERS "miscellaneous" were required to contribute one <br />percent (1%) of their salary towards the 2% at 55 retirement <br />benefit by taking a deduction in pay of two (2) salary rate <br />ranges. <br /> <br />The City and Association agreed, effective November 1, 2001, <br />to eliminate the one percent (1%) pay deduction towards the <br />2% at 55 retirement benefit. <br /> <br />14.5 3% at 50 Service Retirement Benefit for CalPERS "Safety" <br />Members. The City agrees to amend its contract with CalPERS <br />to provide "safety" employees represented by this bargaining <br />unit with the 3% at 50 Service Retirement benefit, effective <br />July 1, 2001. <br /> <br />14.6 Payment of 3% at 50 Service Retirement Benefit. The City <br />has received an actuarial valuation dated March 3, 2000 from <br />CalPERS informing the parties that a cost analysis to amend <br />the City's contract to provide this benefit to current <br />employees will increase the City's normal cost by 1.864% of <br />its total yearly "safety" payroll for this unit. In order to <br />provide this benefit to its current "safety" members, the <br />City and Association agree that eligible employees will pay <br />50% of the total additional normal cost to provide this <br />benefit, not to exceed .93%. <br /> <br />14.7 Yearly Actuarial Valuation Fluctuations. CalPERS provides <br />the City with a yearly actuarial valuation informing it of <br />its new employer contribution rate to be in effect July 1st <br />of each year. The City and Association agree that the City's <br /> <br />53 <br />