Amendment-94-48 - Laserfiche WebLink

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4. In addition to the classes of employees excluded from membership by said Retirement Law, the following classes of employees shall not become members of said Retirement System: NO ADDITIONAL EXCLUSIONS 5. The fraction of final compensation to be provided for each year of credited prior and current service as a local miscellaneous member shall be determined in accordance with Section 21251.13 of said Retirement Law (2% at age 60 Full). 6. The fraction of final compensation to be provided for each year of credited prior and current service for those local safety members hired on or after October 1, 1981 shall be determined in accordance with Section 21252.6 of said Retirement Law (20P at age 55 Full). 7. The fraction of final compensation to be provided for each year of credited.prior and current service for those local safety members hired prior to October 1, 1981 shall be determined in accordance with Section 21252.01 of said Retirement Law (2% at age 50 Full). 8. The following additional provisions of the Public Employees' Retire— ment Law, which apply only upon election of a contracting agency, shall apply to the Public Agency and its employees: a. Sections 21380-21387 (1959 Survivors Program) excluding Section 21382.2 (Increased 1959 Survivors benefits). b. Sections 21263/21263.1 (Post—retirement survivor allowance). C. Section 20930.3 (Military service credit) as defined in Chapter 1437, Statutes of 1974, for those local miscellaneous members and those local safety members hired prior to October 1, 1981. d. Section 20461.6 (Reduction of benefits), applied to Section 20930.3 (Military service credit), Statutes of 1974, for those local miscellaneous and those local safety members hired on or after October 1, 1981, and applied to Section 21252.01 (from 2% @ 50 Full formula to 2% @ 55 Full formula) for those local safety members hired on or after October 1, 1981. e. Section 20024.2 (One—year final compensation), for local fire members only. 9. Public Agency, in accordance with Section 20740, Government Code, ceased to be an "employer" for purposes of Chapter 6 of the Public Employees' Retirement Law effective on December 16, 1976. Accumulated contributions of Public Agency as of the aforementioned date shall be fixed and determined as provided in Section 20759, Government Code, and accumulated contributions as of the aforementioned date and con— tributions thereafter made shall be held by the Board as provided in Section 20759, Government Code.