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Payment of New 2 7% at 55 Service Retirement Benefit. Miscellaneous employees covered <br />by this Agreement agree to pay 6.3% of CaIPERS reportable compensation toward the cost of <br />the 2.7% at 55 enhanced retirement formula in the following manner: <br />A. Effective July 1, 2007, the City shall deduct from each employee covered by <br />this Agreement two percent (2%) of CaIPERS reportable compensation to <br />pay toward the cost of the new enhanced retirement formula. <br />B. Effective July 1, 2008, the City shall deduct from each employee covered by <br />this Agreement an additional two percent (2%) of CaIPERS reportable <br />compensation (4% total) to pay toward the cost of the new enhanced <br />retirement formula. <br />C. Effective July 1, 2009, the City shall deduct from each employee covered by <br />this Agreement an additional two point three percent (2.3%) of Ca1PERS <br />reportable compensation (6.3% total) to pay toward the cost of the new <br />enhanced retirement formula. <br />D. Commencing December 1, 2011, all employees covered by this Agreement <br />shall pay an additional 2% of their salary to pay for the employer portion of <br />the City's PERS contribution. This contribution shall be paid in accordance <br />with Government Code section 20516(f). With this additional 2% for cost <br />sharing, for the period of December 1, 2011 through June 30, 2012, non- <br />safety employees, who, prior to December 1, 2011, in accordance with <br />Section 13.7C of the parties' MOU, paid 6.3% of their salary to pay for the <br />employer portion of the City's PERS contribution, will pay 8.3% of their <br />salary to pay for the employer portion of the City's PERS contribution. <br />E. Commencing on July 1, 2012, all non-safety employees covered by this <br />Agreement shall pay an additional 3.5% of their salary, who, prior to July 1, <br />2012, in accordance with Section 13.7D of the parties' MOU, paid 8.3% of <br />their salary to pay for the employer portion of the City's PERS contribution, <br />will pay 11.8% of their salary to pay for the employer portion of the City's <br />PERS contribution in accordance with Government Code section 20516(f). <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 />13.8 Credit for Unused Sick Leave. Effective January 1, 2002, anon-sworn employee covered by <br />this Agreement can have unused accumulated sick leave at the time of retirement converted <br />to additional service credit, pursuant to regulations prescribed by PERS. The City must <br />report only those hours of unused sick leave that were accrued by the employee during the <br />normal course of employment. This section applies to members whose effective date of <br />retirement is within four (4) months of separation from employment. Effective July 1, 2007, <br />the provisions of this section will also apply to sworn employees covered by this Agreement. <br />54 <br />