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<br /> <br /> <br /> <br /> <br /> employment. This section applies to members whose effective date of retirement is <br /> within four (4) months of separation from employment. <br /> <br /> 12.5 Military Service Credit as Public Service. Effective January 1, 2002, or as soon as <br /> practicable thereafter, an employee covered by this Agreement may elect to purchase up <br /> to four (4) years of service credit for any continuous active military or merchant marine <br /> service prior to employment. The employee must contribute an amount equal to the <br /> contribution for current and prior service that the employee and the employer would have <br /> made with respect to that period of service. <br /> <br /> 12.6 2.7% at 55 Service Retirement Benefit for Miscellaneous Members. Effective January 1, <br /> 2009, the City agrees to amend its retirement contract with CalPERS to provide <br /> Miscellaneous employees covered by this agreement with the 2.7% at 55 Service <br /> Retirement benefit. Pursuant to CalPERS regulations, this new formula will apply to <br /> employees that are in active status on the date this amendment takes effect. This new <br /> formula will apply to each year of eligible service credited with the City of Santa Ana. <br /> <br /> Payment toward the 2.7% at 55 Service Retirement Benefit. Miscellaneous employees <br /> covered by this Agreement agree to pay 8.0% of Ca1PERS reportable compensation <br /> toward the cost of the 2.7% at 55 enhanced retirement formula as set forth in Article IV, <br /> Section 43A. <br /> <br /> Pre-Taxable Benefit. To the extent permitted by CalPERS and Internal Revenue Service <br /> regulations, the City shall make the above employee deductions pre-tax contributions. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 54 <br /> 25F-56 <br />