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<br />· Effective January 1, 2013, the employee contribution shall be increased by <br />1.0% for a total contribution of 2.43%. <br />· Effective January 1, 2014, the employee contribution shall be increased by <br />1.0% for a total contribution of 3.43%. <br />· Effective July 1, 2014, employees covered by this Agreement shall not <br />contribute more toward the 3% at 50 retirement benefit than members of <br />the Firemen's Benevolent Association (FBA). <br /> <br />14.7 Yearly Actuarial Valuation Fluctuations. CalPERS provides the City with a yearly <br />actuarial valuation informing it of its new employer contribution rate to be in effect <br />July 1st of each year. The City and Association agree that the City's employer <br />contribution rate will fluctuate from year to year based on the investment returns <br />earned by the retirement system. The City agrees that current eligible "safety" <br />employees paying to receive this benefit should also benefit from this yearly <br />fluctuation in the City's annual actuarial valuation. As such, curreflt eligible "safety" <br />employees will cOfltribute 50% of aWl yearly Cit./ employer cOfltributiofl rate ta a <br />maxim\;Jm of .93% duriflg the term af this I'.greemeflt. Should the City's employer <br />contribution rate meet or exceed 25% during the term of this Agreement, the <br />City and Association agree to a reopener of this section, but there shall be no <br />changes without the mutual written agreement of the parties. <br /> <br />AMENDED ARTICLE XXVI (new language in bold italics,' deleted provisions lined out) <br /> <br /> <br />26.1 The term of this Agreement shall be from July 1, 2004 through June 30, ~ ~ <br /> <br />2014. <br /> <br />ARTICLE XXVII <br />27.0 RA TIFICA TION AND EXECUTION <br /> <br />27.1 The City and Association have reached an understanding as to certain <br />recommendations to be made to the City Council for the City of Santa Ana and have <br />agreed that the parties hereto will jointly urge said Council to adopt a new wage and <br />salary resolution which will provide for the changes contained in said joint <br />recommendations. The City and the Association acknowledge that this Agreement <br />shall not be in full force and effect until ratified by the membership of the <br />Association and adopted by the City Council of the City of Santa Ana. Subject to <br /> <br />FMA Contract Extension: 2010-2014 <br /> <br />Page 14 <br />