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Note: Furlough equivalency table reflects the true value associated with swapping furlough hours in-lieu of MOU salary increase deferral. Furloughs should be based on number of hours not number of days (provides flexibility when employees move across schedules). Number of furlough hours will be the some across all schedules. The required furlough hours shall be monitored by the City payroll department. Any affected employee is required to take the equivalent of at least one (1) furlough day per month during the furlough period. Any affected employee who fails to take the required furlough day in any month shall incur a deduction from his or her gross pay in the succeeding pay period in an amount equal to the hours of his or her regular daily shift, computed at base rate plus premiums. Any employee who notifies the City of his or her intent to retire under these provisions and receives the salary increases as set forth in 4.3"A" "1" subsections "a" and "b" above, and who does not retire on or before January 1, 2011, shall not receive the salary increases scheduled for July 1, 2010 and January 1, 2011, respectively. C. The assignment of classes to salary rate ranges is listed in Exhibit B, which is attached and made a part hereof as though set forth herein. D. Effective July 1, 2001, and in the event the City incurs an employer cost, safety employees covered by this Agreement will contribute up to 1.42% of their salary toward the 3% at 50 retirement benefit. Due to excessive employer contribution rates, effective July 1, 2004 and during the term of this Agreement, the agreed upon employee contribution rate shall be the maximum of 1.42%. Effective July 1, 2007, Miscellaneous employees covered by this Agreement shall contribute 2% of their salary toward the 23% at 55 retirement benefit. To the extent permitted by Ca1PERS and Internal Revenue Service regulations, this 2% contribution shall be implemented through payroll deduction on a pre-tax basis, Effective July 1, 2008, Miscellaneous employees covered by this Agreement shall contribute an additional 2% of their salary (for a total of 4%) toward the 2.7% at 55 retirement benefit. To the extent permitted by CalPERS and Internal Revenue Service regulations, this additional 2% contribution shall be implemented through payroll deduction on a pre-tax basis. Effective July 1, 2009, Miscellaneous employees covered by this Agreement shall contribute an additional 2.3% of their salary (for a total of 6.3%) toward the 2.7% at 55 retirement benefit. To the extent permitted by Ca1PERS and fntemal Revenue Service regulations, this additional 2.3 % contribution shall be implemented through payroll deduction on a pre-tax basis. E. Effective July 1, 1998, employees will contribute one-half percent (.5%) of their base salary plus pay additives through payroll deduction to a fund maintained by the Santa 11 25A-34