Laserfiche WebLink
Pursuant to CalPERS regulations, this formula shall apply only to the <br />aforementioned CASA employees that are in an active status, This <br />formula shall apply to each year of eligible service credited with the <br />City of Santa Ana. <br />Payment towards the 2.07o at 62 Service Retirement Benefit Employees <br />defined in 13.4.A (above) covered by this MOU shall contribute at least <br />50% of normal cost of the 2.0% at 62 retirement benefit. <br />Pre - Taxable Benefit. To the extent permitted by ColPERS and Internal <br />Revenue Service regulations, the City shall make the above employee <br />deductions pre -tax contributions. <br />13.5 Credit for Unused Sick Leave. An employee covered by this MOU shall be <br />permitted to have unused accumulated sick leave at the time of retirement <br />converted tc additional service credit at the rate of 0.004 years of service <br />credit for each eight -hour day of unused sick leave (i.e., 200 days of sick <br />leave equals .80 additional year of service credit). The City must report only <br />those days of unused sick leave that were accrued by the employee during <br />the normal course of employment. This section applies to members whose <br />effective date of retirement is within four (4) months of separation from <br />employment. <br />13.6 Military Service Credit as Public Service. An employee covered by this MOU <br />shall be permitted to purchase up to four (4) years of service credit for any <br />continuous active military or merchant marine service prior to employment. <br />The employee must contribute an amount equal to the contribution for <br />current and prior service that the employee and the employer would have <br />made with respect f that period of service, <br />13.7 Deferred Compensation. <br />A. Background. Prior to July 1, 1991, the City authorized an amount equal <br />to one percent (1.07o) of base pay for a deferred compensation <br />benefit for full lime "confidential" employees. This benefit was treated <br />separately from salary, and was not included in the City's salary and <br />wage schedule. Effective July 1, 1991, to comply with CaIPERS wage <br />reporting requirements, this benefit was added to the pay rate <br />assigned to each "confidential" classification and reported as "salary" <br />to CaIPERS. Thereafter, pay levels for "confidential" classifications <br />CONFIDENTIAL ASSOCIATION OF SANTA ANA (CASA) MOU: 2015- 2017 Page 57 <br />25G -59 <br />