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Time, Temporary and Emergency employees not covered by CalPERS to satisfy the <br />requirements of the Omnibus Budget Reconciliation Act of 1990. This plan is a qualified <br />Section 457 Deferred Compensation Plan. The disbursement from the plan shall be <br />consistent with the law and the policies and procedures established by the City. <br />A. The City and the Union further agree that all such employees shall be required to <br />contribute 3.75% of their wages into the City- adopted qualified retirement plans, <br />such as Section 457 Deferred Compensation Plan. <br />B. The City agrees to contribute 3.75% of all such employees' wages into the <br />employees' retirement plan. <br />C. If, at any time in the future, the Internal Revenue Service rules that the adopted <br />retirement plan does not meet Federal requirements as a qualified alternative <br />retirement system to Social Security coverage, the City shall discontinue its <br />contributions into said plan for affected employees and shall not assume <br />responsibility for the payment of any back taxes due for Social Security coverage <br />or for payments to any other qualified retirement plan for affected employees <br />except for those payments mandated by law to be paid for by an employer. <br />D. In consideration of the inclusion in CalPERS of all Part Time employees working <br />in excess of 999 hours in any fiscal year, the Union and the City agree that: <br />• With respect to Miscellaneous employees covered by this MOU who do not <br />qualify as "New Members" under the California Public Employees' Pension <br />Reform Act of 2013 (PEPRA), shall be enrolled in the 2.7% @ 55 benefit <br />formula and shall pay the 8% member contribution. New CalPERS members (as <br />defined under the California Public Employees' Pension Reform Act (PEPRA) of <br />2013) will be enrolled in the 2% @ 62 benefit formula paying one half of the <br />normal cost rate, as established by CalPERS. For FY 15/16, one half the normal <br />cost rate is 6.75 %. <br />E. The City at no time shall be required to pay contributions to two separate <br />retirement systems. <br />4.7 Overtime. Any work in excess of forty (40) hours in a workweek shall entitle the <br />employee to overtime compensation, at a rate equal to one and one -half (1 '/2) times the <br />employee's regular hourly rate of pay. <br />A. Employees who work overnight trips and remain available for duty for any 24 <br />hour period shall be paid for 16 hours each 24 hour period. <br />B. Any partial day worked shall be paid based on actual hours worked on that day. <br />4.8 Holidays. Employees who are required to work on an official City holiday will be <br />compensated at time and one -half (1.5x) for all hours worked. In those years when an <br />9 <br />