POLICE OFFICERS ASSOCIATION (POA) - 2013

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Final compensation will be based on the highest annual average compensation earnable during the 36 consecutive months immediately preceding the effective date of his or her retirement, or some other 36 consecutive month period designated by the member. Effective July 1, 2013, employees shall pay one half of the normal cost rate, as established by CalPERS. 13.7 2.7% at 55 Service Retirement Benefit for Classic Miscellaneous Members. Effective July 1, 2009, the City amended its retirement contract with CalPERS to provide Classic Miscellaneous employees covered by this Agreement with the 2.7% at 55 Service Retirement benefit. Pursuant to CalPERS regulations, this formula applied to employees who were in active status on that date. Commencing July 1, 2013, all classic non - safety employees covered by this agreement (i.e., those subject to the Miscellaneous CalPERS formula) shall pay ten and one half (10.5 %) percent of their salary to pay for the employer portion of the City's CalPERS contribution. This payment shall be paid in accordance with Government Code section 20516(f). Pre - Taxable Benefit. To the extent permitted by CalPERS and Internal Revenue Service regulations, the City shall make the above employee deductions pre -tax contributions. For "New Members" within the meaning of the California Public Employees' Pension Reform Act ( PEPRA) of 2013 The PEPRA went into effect on January 1, 2013. The parties agree that if there is any other clean up or other retirement legislation which goes into effect during this MOU and if there are provisions of that legislation which, by law, automatically goes into effect, either party may request to negotiate over the legislation, including over the impact. Retirement Formula: Per Government Code Section 7522.20(a), the 2% at 62 retirement formula for non - sworn. Final compensation will be based on the highest annual average compensation earnable during the 36 consecutive months immediately preceding the effective date of his or her retirement, or some other 36 consecutive month period designated by the member. Effective July 1, 2013, employees shall pay one half of the normal cost rate, as established by CalPERS. 3. Health Insurance 12.1 During the term of this Agreement the City will contribute toward the payment of premiums for health, dental and long -term disability insurance plans administered by the Association for the benefit of the employees represented by the Association as follows: