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C. Longevity Vacation Credits for Newly -Hired Executive Management (EM) <br />Employees. The City Manager is authorized to grant to a person newly hired by the City <br />to a position designated as Executive Management (EM), longevity vacation credits in <br />the form of years of service to the City up to a maximum of 20 years. The credits will be <br />counted as completed years of service with the City for the purpose of calculating <br />longevity vacation accrual only. The longevity vacation credits will be added to the <br />years of service actually completed with the City of Santa Ana by the employee to <br />establish total years of service for the purpose of calculating longevity vacation. <br />D. Longevity and Vacation Pay Option. Once per fiscal year, Executive <br />Management (EM) employees will be given the option to receive cash compensation, <br />computed on a straight time basis, in lieu of up to five (5) working days of earned, <br />unused vacation benefits set forth in Section B. <br />E. Sick Leave Credits for New Hires. The City Manager is authorized to grant a <br />newly appointed Executive Management (EM) employee sick leave credits up to an <br />amount equal to any earned but unused sick leave credits available to such appointee <br />at the time of his or her separation from his or her most recent previous employer. <br />F. Payment for Unused Sick Leave. Executive Management (EM) employees will <br />be granted payment for unused sick leave on the same basis as provided to Santa Ana <br />Management Association (SAMA) represented employees of the City. <br />G. Paid or unpaid Administrative Leave Policy. The City Manager is authorized to <br />grant, at his or her discretion, paid or unpaid leave for Executive Management (EM) <br />employees. <br />Section 6. Retirement Plan Contributions. <br />A. The terms of the existing contract between the City and California Public <br />Employees' Retirement System (CaIPERS) governing the City retirement benefits of <br />Executive Management (EM) employees covered by this Resolution are incorporated by <br />reference herein. The City will make contributions to CaIPERS in accordance with its <br />contract with CaIPERS for employees covered by said contract as amended. <br />B. 2.7% at 55 Service Retirement Benefit for Classic Miscellaneous Members The <br />City agrees to provide Executive Management (EM) employees covered by this <br />Resolution, and who are defined as Classic Miscellaneous Members under the <br />California Public Employees' Pension Reform Act (PEPRA) of 2013 (AB340), with the <br />2.7% at 55 Service Retirement benefit. <br />C. Payment of 2.7% at 55 Service Retirement Benefit Classic Miscellaneous <br />Executive Management (EM) employees covered by this Resolution will contribute eight <br />percent (8 %) of CaIPERS reportable compensation toward the employer cost of the <br />2.7% at 55 enhanced retirement formula. This payment will be implemented as cost - <br />sharing pursuant to Government Code Section 20516(f). <br />Pre - Taxable Benefit. To the extent permitted by CaIPERS and Internal Revenue Service <br />regulations, this eight percent (8 %) employee contribution will be implemented through <br />