55A - RESO UC/UNREPRESENTED EX MGMT

Home Browse Search

new formula will apply to each year of eligible service credited with the City of Santa Ana. Effective July 1, 2007, CalPERS miscellaneous employees shall contribute two percent (2%) of their salary toward the 2.7% at 55 retirement benefit. To the extent permitted by CalPERS and Internal Revenue Service regulations, this 2% contribution shall be implemented through payroll deduction on a pre-tax basis. Effective July 1, 2008, CalPERS miscellaneous employees shall contribute an additional two percent (2%) of their salary, for a total of four percent (4%), toward the 2.7% at 55 retirement benefit. To the extent permitted by CalPERS and Internal Revenue Service regulations, this additional 2% contribution shall be implemented through payroll deduction on a pre-tax basis. Effective July 1, 2009, CalPERS miscellaneous employees shall contribute an additional two and three tenths percent (2.3%) of their salary, for a total of six and three tenths percent (6.3%), toward the 2.7% at 55 retirement benefit. To the extent permitted by CalPERS and Internal Revenue Service regulations, this additional 2.3% contribution shall be implemented through payroll deduction on a pre-tax basis." E. Section 8. Other Unrepresented Executive Manaoement and Employee Riohts and Privileoes shall read as follows: "Section 8. Other Unrepresented Executive Manaoement Employee Riohts and Privileoes. Each employee in a classification of employment designated in Sub- section 3A of this Resolution as unrepresented Executive Management (EM) shall continue to enjoy the same rights and privileges to which they were entitled as of June 30, 2007." Section 3. That except as amended by this Resolution, all other provisions of Resolution No. 91-066, as amended, shall remain in full force and effect. Section 4. That this Resolution shall be operative, unless specified otherwise above, from and after July 1, 2007. Resolution No. 2007- Page 4 of7 55A-12