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25A - AGMT - POA MOU
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25A - AGMT - POA MOU
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Last modified
10/17/2013 11:26:22 AM
Creation date
10/17/2013 11:20:33 AM
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Personnel Services
Item #
25A
Date
10/21/2013
Destruction Year
2018
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ARTICLE XIII <br />13.0 RETIREMENT <br />13.1 General. The City shall continue to make contributions to the California Public Employees' <br />Retirement System (CaIPERS) in accordance with its contract with Ca1PERS for employees <br />covered by said contract as amended. <br />13.2 Deferred Retirement. The City shall continue to make payment to CalPERS on behalf of each <br />employee covered by this Agreement in accordance with the following schedule: <br />A. With respect to "safety-member" employees, the City shall pay an amount equal to <br />nine-ninths (9/9ths) of his or her individual employee retirement contribution. <br />B. With respect to "miscellaneous-member" employees covered by this Agreement, the <br />City shall pay an amount equal to eight-eighths (8/8ths) of his or her individual <br />employee retirement contribution. <br />Such payments shall be credited to the individual employee's Ca1PERS account. <br />Such payments are not increases in base salary and no salary rate range applicable to <br />any of the employees covered by this Agreement shall be changed or deemed to have <br />been changed by reason thereof. As a result, the City will not treat these payments as <br />ordinary income and thus, will not withhold federal or state income tax from said <br />payments. The City has received an opinion or ruling from the Internal Revenue <br />Service confirming that these payments are deferred compensation, not ordinary <br />income. <br />In the event that the City receives a subsequent ruling from the internal Revenue <br />Service that such payments are ordinary income ofthe employees instead ofdeferred <br />compensation, the City s obligation to make such payments shall discontinue and in <br />place thereof the base salary of each affected employee shall forthwith be increased <br />by eighteen (18) salary rate ranges (9.0%) for "safety-member" and sixteen (16) <br />salary rate ranges (8.0%) for all "miscellaneous-member" employees covered by this <br />Agreement. <br />For the purpose of reporting an employee's compensation to CaIPERS, the City shall <br />include these payments as if they were a part of the employee's base salary. <br />13.3 Ca1PERS Fourth Level of 1959 Survivors Benefits. Effective November 7, 2002, the City <br />will provide CaIPERS fourth level of 1959 Survivors Benefit to all eligible employees in the <br />unit. <br />13.4 CalPERS Pre-Retirement Optional Settlement 2 Death Benefit. Effective July 5, 2000, the <br />City shall provide the CaIPERS Pre-Retirement Optional Settlement 2 Death Benefit to all <br />employees covered by this Agreement. <br />52 <br />25A-75
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