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2011-054 - Amending the Pars Trust Supplementary Retirement Plan to Include Current Police Union President Pay
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2011-054 - Amending the Pars Trust Supplementary Retirement Plan to Include Current Police Union President Pay
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Last modified
1/10/2012 4:14:54 PM
Creation date
8/31/2011 2:51:36 PM
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City Clerk
Doc Type
Resolution
Doc #
2011-054
Date
8/24/2011
Destruction Year
P
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(a) Is and Employee of the Employer represented by the Police <br />Officers Association on or after July 1, 2009; <br />(b) is at least fifty (50) years of age and has completed at least five (5) <br />years of continuous employment with the Employer immediately <br />preceding the last day of employment with the Employer; <br />(c) received a salary increase on July 1, 2009 and/or January 1, 2010, <br />which was not recognized by CaIPERS for purposes of computing <br />Final Pay; <br />(d) has terminated employment with the Employer and concurrently <br />retired under CaIPERS on or before December 31, 2010, and <br />remains in retired status under CaIPERS; and <br />(e) has applied for benefits under this Plan. <br />Tier II <br />An Employee shall be eligible to receive Retirement Benefits under this <br />Plan if he or she: <br />(a) is an Employee of the Employer serving as the Union President for <br />the Police Officers Association on July 1, 2011; <br />(b) is at least fifty (50) years of age and has completed at least five (5) <br />years of continuous employment with the Employer immediately <br />preceding the last day of employment with the Employer; <br />(c) received a Union Pay Premium which was not recognized by <br />CaIPERS for purposes of computing Final Pay; <br />(d) has terminated employment with the Employer and concurrently <br />retired under CaIPERS on or before December 31, 2011, and <br />remains in retired status under CaIPERS; and <br />(e) has applied for benefits under this Plan. <br />B. Article VII, Section 7.1, "Definitions" is hereby amended to change the <br />definition of Benefit Final Pay, to read in full as follows: <br />"Benefit Final Pay" means the salary increase granted on July 1, 2009 <br />and/or January 1, 2010 or the Union Pay Premium, which was not <br />recognized by CaIPERS for purposes of computing Final Pay. <br />Resolution No. 2011-054 <br />Page 2 of 3
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