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D. Lonaevitv and Vacation Pay Option. Once per fiscal year, Executive <br />Management (EM) employees wfll be divan the option to receive cash compensation, <br />computed on a straight time basis, in Ileu of up to five (5) working days of earned, <br />unused vacation benefits set forth In Section B. <br />E. S ck Leave Cr dits 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 UUW5ed Sick L ae, Executive Management (EM) employees will <br />be granted payment for unused siok leave on the same basis as provided to Santa Ana <br />Management Association (SAMA) represented employees of the City. <br />G. Paid or unpaid Adm1nistMtliye Leave Policy, The City Manager Is authorized to <br />grant, at his or her discretion, paid or unpaid leave for Executive Management (ENI) <br />employees, <br />Section 0. Retirement Plan Contribgt M, <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 2018 (AS840), with the <br />2.7% at 55 Service Retirement benefit, <br />C. Payment of 2.71/a at 66 Service etirement Benefit, Classic Miscellaneous <br />Executive Management (EM) employees covered by this Resolution will contribute eight <br />percent (6 %) of CaIPERS reportable compensation toward the employer cost of the <br />2.7% at 55 enhanced retirement formula. Thla 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 contributlon will be implemented through <br />payroll deductions on a pre-tax basis. <br />C1. 2.0 °in at ,t`i�2 Service Retirement Benefit for Now Mlscollana'a LL bors. The <br />City agrees to provide Executive Management (EM) employees covered by this <br />Resolution who were appointed to their classification on or after January 1, 2013, and <br />who are defined as new members under the California Public Employees' Pension <br />Reform Act (PEPRA) of 2013 (AB340), with the 2.0% at 02 Service Retirement benefit. <br />E, paytpenf of 2.0 °� at,,,f _,5ovice 3etlroment,l3egofIt. Executive, Management <br />