Laserfiche WebLink
11.2 Long -Term Disability (L.T.D.) Insurance. The City shall allow employees, for the term of <br />this Agreement, to participate in any aspect of the Plan offered to the City at the City rate. <br />The cost for this benefit shall be borne by the employee. <br />11.3 Life Insurance. The City shall allow employees, for the term of this Agreement, to <br />participate in any aspect of the plan offered to the City at the City rate. The cost for this <br />benefit shall be borne by the employee. <br />11.4 Vision Plan. The City shall offer a non - contributory vision plan through payroll <br />deduction for employees wishing to participate in such a plan. <br />11.5 Insurance Committee. When there is a need to discuss matters relating to employee <br />insurance and the City believes it would be beneficial to involve an Insurance Committee, <br />the Union shall have an equal number of representatives as the City on such a committee <br />to meet as necessary. <br />ARTICLE XII <br />12.1 General. The terms of the existing contract between the City and the California Public <br />Employees' Retirement System (CalPERS) governing City retirement benefits for <br />affected employees are incorporated by reference herein. Each Part Time Civil Service <br />employee shall be a member of the CalPERS system, and the City shall make <br />contributions to CalPERS in accordance with its contract with CalPERS for affected <br />employees covered by said contract as amended. <br />12.2 Deferred Retirement. The City will continue to make payments to CalPERS on behalf of <br />each employee covered by this agreement, in an amount necessary to pay 100% of his or <br />her individual employee retirement contribution which is equal to eight percent (8 %). <br />Such payments shall be credited to the individual employee's CalPERS account. <br />Such payments are not increases in base salary and no salary rate range applicable to any <br />of the employees covered by this Agreement shall be changed or deemed to have been <br />changed by reason thereof. As a result, the City will not treat these payments as ordinary <br />income and, thus, will not withhold federal or state income tax from said payments. The <br />City has received an opinion or ruling from the Internal Revenue Service confirming that <br />these payments are deferred compensation and not ordinary income. In the event that the <br />City receives a ruling on or after July 1, 2009 from the Internal Revenue Service that <br />such payments are ordinary income of the employees instead of deferred compensation, <br />the City's obligation to make such payments shall discontinue, and in place thereof, the <br />base salary of each employee shall be increased forthwith by sixteen (16) salary rate <br />ranges (approximately 8 %) after January 1, 2009. <br />For the purpose of reporting an employee's compensation to CalPERS, the City shall <br />include these payments as if they were a part of the employee's base salary. <br />28 <br />