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13.5 Military Service Credit as Public Service. Employees may elect (per Government Code <br /> 21024)to purchase up to four(4) years of service credit for any continuous active military <br /> or merchant marine service prior to employment. The employee must contribute an amount <br /> equal to the contribution for current and prior service that the employee and the employer <br /> would have made with respect to that period of service. <br /> 13.6 3% at 50 Service Retirement Benefit for Safety employ. The City contracts with <br /> CalPERS to provide Safety employees who do not qualify as "New Members" under <br /> PEPRA with the 3% at 50 Service Retirement benefit. <br /> All Safety employees who do not qualify as"New Members"under PEPRA shall pay twelve <br /> percent(12%)compensation eamable to pay for the employer portion of the City's CalPERS <br /> contribution. This payment shall be paid in accordance with Government Code Section <br /> 20516(f). If, at any time in the future, the Association informs the City that it no longer <br /> agrees to this cost sharing agreement, effective on the date of the elimination of the cost <br /> sharing (which would need to coincide with the expiration date of the MOU) these <br /> employees' base salary would be reduced by twelve percent(12%). <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 /> 13.7 2.7% k 57 Service Retirement Benefit for "New Member" Safety employ. The City <br /> agrees to provide Safety employees who are defined as"New Members"within the meaning <br /> of the California Public Employees' Pension Reform Act (PEPRA) of 2013 with the 2.7% <br /> @ 57 Service Retirement benefit. <br /> Final compensation will be based on the highest annual average compensation earnable <br /> during the thirty-six (36) consecutive months immediately preceding the effective date of <br /> their retirement, or some other thirty-six (36) consecutive month period designated by the <br /> member. <br /> Employees covered under the 2.7% @ 57 retirement formula shall pay one-half of the <br /> normal cost rate as established each year by CalPERS. <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 2.7% at 55 Service Retirement Benefit for Miscellaneous employ. The City contracts <br /> with CalPERS to provide Miscellaneous employees who do not qualify as"New Members" <br /> under PEPRA with the 2.7% at 55 Service Retirement benefit. <br /> The employee's contribution rate for Miscellaneous employees who do not qualify as <br /> "New Members" under PEPRA is eight percent (8%) compensation earnable. All <br /> employee contributions for retirement benefits are paid to the employer portion of the <br /> City's CalPERS contribution. This payment shall be paid in accordance with Government <br /> Code section 20516(f). If, at any time in the future, the Association informs the City that <br /> it no longer agrees to this cost sharing agreement, effective on the date of the elimination <br /> 52 <br />