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POLICE OFFICERS ASSOCIATION
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Last modified
8/15/2017 2:33:03 PM
Creation date
8/15/2017 2:06:41 PM
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Contracts
Company Name
POLICE OFFICERS ASSOCIATION
Contract #
A-2017-163
Agency
PERSONNEL SERVICES
Council Approval Date
7/5/2017
Expiration Date
6/30/2018
Destruction Year
0
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Pre -Taxable Benefit. To the extent permitted by CalPERS and Internal Revenue Service <br />regulations, the City shall make the above employee deductions pre-tax contributions. <br />13.8 2.7% at 55 Service Retirement Benefit for Miscellaneous ernployees, The City contracts <br />with CalPERS to provide Miscellaneous employees who do not qualify as "New Members" <br />under PEPRA with the 2.7% at 55 Service Retirement benefit. <br />The employee's contribution rate for Miscellaneous employees who do not qualify as <br />"New Members" under PEPRA will be to eight (8%) percent of their salary. All employee <br />contributions for retirement benefits are paid to the employer portion of the City's <br />CalPERS contribution. This payment shall be paid in accordance with Government Code <br />section 20516(f), <br />Pre -Taxable Benefit. To the extent permitted by CalPERS and Internal Revenue Service <br />regulations, the City shall make the above employee deductions pre-tax contributions. <br />13.9 2% a, 62 Service Retirement Benefit for "New Member" Miscellaneous employees The <br />City agrees to provide Miscellaneous employees covered by this MOU who are defined as <br />"New Members" within the meaning of the California Public Employees' Pension Reform <br />Act (PEPRA) of 2013 with the 2% @ 62 Service Retirement benefit <br />PEPRA went into effect on January 1, 2013, The parties agree that if there is any other <br />clean up or other retirement legislation which goes into effect during this MOU and if there <br />are provisions of that legislation which, by law, automatically goes into effect, either party <br />may request to negotiate over the legislation, including over the impact. <br />Final compensation will be based on the highest annual average compensation earnable <br />during the 36 consecutive months immediately preceding the effective date of his or her <br />retirement, or some other 36 consecutive month period designated by the member. <br />Employees covered under the 2% @ 62 retirement formula shall pay one half of the normal <br />cost rate as established by CalPERS. For the fiscal year 16-17, CalPERS established the <br />rate as 5.5%, The rate for fiscal year 17-18 is still to be determined by CalPERS. <br />Pre -Taxable Benefit. To the extent permitted by CalPERS and Internal Revenue Service <br />regulations, the City shall make the above employee deductions pre-tax contributions. <br />13.10 Credit for Unused Sick Leave. All employees covered by this MOU can have unused, <br />accumulated sick leave at the time of retirement converted to additional service credit, <br />pursuant to regulations prescribed by PERS. The City must report only those hours of <br />amused sick leave that were accrued by the employee during the normal course of <br />employment. This section applies to members whose effective date of retirement is within <br />four (4) months of separation from employment. <br />52 <br />
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