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,LEASE 00 N01 SIGN "EXHIBIT 0N!' <br />2. Public Agency shall participate in the Public Employees' Retirement <br />System from and after July 1, 1947 making its employees as hereinafter <br />provided, members of said System subject to all provisions of the Public <br />Employees' Retirement Law except such as apply only on election of a <br />contracting agency and are not provided for herein and to all amendments <br />to said Law hereafter enacted except those, which by express provisions <br />thereof, apply only on the election of a contracting agency. <br />3. Employees of Public Agency in the following classes shall become <br />members of said Retirement System except such in each such class as <br />are excluded by law or this agreement: <br />a. Local Fire Fighters (herein referred to as local safety members); <br />b. Local Police Officers (herein referred to as local safety members); <br />C. Employees other than local safety members (herein referred to as <br />local miscellaneous members). <br />4. In addition to the classes of employees excluded from membership by <br />said Retirement Law, the following classes of employees shall not become <br />members of said Retirement System: <br />NO ADDITIONAL EXCLUSIONS <br />5. The percentage of final compensation to be provided for each year of <br />credited prior and current service as a local miscellaneous member shall <br />be determined in accordance with Section 21354 of said Retirement Law <br />(2% at age 55 Full). <br />6. The percentage of final compensation to be provided for each year of <br />credited prior and current service as a local safety member shall be <br />determined in accordance with Section 21362.2 of said Retirement Law <br />(3% at age 50 Full). The required member contribution rate is 9% of <br />reportable compensation. <br />7. Public Agency elected and elects to be subject to the following optional <br />provisions: <br />a. Sections 21624 and 21626 (Post -Retirement Survivor Allowance). <br />b. Section 21024 (Military Service Credit as Public Service), Statutes <br />of 1974 for those local miscellaneous members and local safety <br />members entering membership prior to October 1, 1981. <br />12A " . Page 12 <br />