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(EM) employees defined in 6.D. (above) will contribute at least 50% of normal cost of <br />the 2,0% at 62 retirement benefit, <br />Pre-Taxable Benefit. To the extent permitted by CaIPERS and Internal Revenue Service <br />regulations, the City will make the above employee deductions pre-tax contributions. <br />F. 3% at 50 Service Retirement Benefit for Classic SaPaty Members, The Clty <br />agrees to provide Executive Management (EM) employees covered by this Resolution, <br />and who are defined as Classic Safety Members under the Californla Public Employees' <br />Pension Reform Act (PEPRA) of 2013 (AB340), with the 3% at 60 Service Retirement <br />benefit. <br />G. Payment of 3.0% at 50 Service Retirement Benefit, Classic Safety Executive <br />Management (EM) employees covered by this Resolution will contribute nine percent <br />(9%) of CaIPERS reportable compensation toward the employer cost of the 3.0% at 50 <br />enhanced retirement formula. This payment will be implemented as cost - sharing <br />pursuant to Government Code Section 20516(f), <br />ire- T,k1ble Benefit. To the extent permitted by CalPERS and Internal Revenue Service <br />regulations, this nine percent (9 %) employee rontributlon will be Implemented through <br />payroll deduction on a pre -tax basis, <br />provide Executive Management (EM) employees covered by this Resolution who were <br />appointed to their classification on or after January 1, 2013, and who are defined as <br />new members under the California Public Employees' Pension Reform Act (PEPRA) of <br />2013 (AB340), with the 2,7% @ 67 Service Retirement benefit. <br />I, Payrnent of 2,7% at 57 Service Retirement Benefit, Executive Management <br />(EM) employees defined In 6,H. (above) will contribute at least 60% of normal cost of <br />the 2.7% at 57 retirement benefit, <br />Pre - "I axable Benefit, To the extent permitted by CalPERS and Internal Revenue Service <br />regulations, the Cltywill make the above employee deductions pre -tax contributions. <br />J. Final Compensation for F?ensjgn Iculatioi7. Final compensation for Classic <br />Safety and Classic Miscellaneous Members will be based on the highest annual <br />average compensation earnabie during the 12 consecutive months Immediately <br />preceding the effective date of his or her retirement, or some other 12 consecutive <br />month period designated by the member. <br />Final compensation for Safety and Miscellaneous Members who are defined as New <br />Members under PEPRA will be based on the highest annual average compensation <br />eamable during the 36 consecutive months Immediately preceding the effective date of <br />his or her retirement, or some other 36 consecutive month period designated by the <br />member. <br />K. Nlllitary Service Credit as Public, 5gty"jge, An Executive Management (EM) <br />employee covered by this Resolution will be permitted to purchase up to four (4) years of <br />service credit for any continuous active military or merchant marine service prior to <br />