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Note: Furlough equivalency table reflects the true value associated with swapping furlough hours in-lieu of MOU salary <br />increase deferral. Furloughs should be based on number of hours not number of days (provides flexibility when <br />employees move across schedules). Number of furlough hours will be the same across all schedules. <br />The required furlough hours shall be monitored by the City payroll <br />department. Any affected employee is required to take the equivalent of at <br />least one (1) furlough day per month during the furlough period. Any <br />affected employee who fails to take the required furlough day in any month <br />shall incur a deduction from his or her gross pay in the succeeding pay period <br />in an amount equal to the hours of his or her regular daily shift, computed at <br />base rate plus premiums. <br />Any employee who notifies the City of his or her intent to retire under these <br />provisions and receives the salary increases as set forth in 4.3"A" "1" <br />subsections "a" and "b" above, and who does not retire on or before January <br />1, 2011, shall not receive the salary increases scheduled for July 1, 2010 and <br />January 1, 2011, respectively. <br />C. The assignment of classes to salary rate ranges is listed in Exhibit B, which is <br />attached and made a part hereof as though set forth herein. <br />D. Effective July 1, 2001, and in the event the City incurs an employer cost, safety <br />employees covered by this Agreement will contribute up to 1.42% of their salary <br />toward the 3% at 50 retirement benefit. Due to excessive employer contribution <br />rates, effective July 1, 2004 and during the term of this Agreement, the agreed upon <br />employee contribution rate shall be the maximum of 1.42%. <br />Effective July 1, 2007, Miscellaneous employees covered by this Agreement shall <br />contribute 2% of their salary toward the 2.7% at 55 retirement benefit. To the extent <br />permitted by Ca1PERS and Internal Revenue Service regulations, this 2% <br />contribution shall be implemented through payroll deduction on a pre-tax basis. <br />Effective July 1, 2008, Miscellaneous employees covered by this Agreement shall <br />contribute an additional 2% of their salary (for a total of 4%) toward the 2.7% at 55 <br />retirement benefit. To the extent permitted by Ca1PERS and Internal Revenue <br />Service regulations, this additional 2% contribution shall be implemented through <br />payroll deduction on a pre-tax basis. <br />Effective July 1, 2009, Miscellaneous employees covered by this Agreement shall <br />contribute an additional 2.3% of their salary (for a total of 6.3%) toward the 2.7% at <br />55 retirement benefit. To the extent permitted by Ca1PERS and Internal Revenue <br />Service regulations, this additiona12.3% contribution shall be implemented through <br />payroll deduction on a pre-tax basis. <br />E. Effective July 1, 1998, employees will contribute one-half percent (.5%) of their base <br />salary plus pay additives through payroll deduction to a fund maintained by the Santa <br />