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RETIREMENT <br /> 13.1 Retirement Plan <br /> Tier 1: For COA unit members hired prior to October 21, 2011, retirement benefits shall be those <br /> established by the California Public Employees' Retirement System (CaIPERS) for Local Safety Members <br /> three percent (3%) at fifty (50) formula. Retirement benefits for Tier 1 COA members will be calculated <br /> based on one (1) year highest compensation CaIPERS benefit, as authorized by Section 20042 of the <br /> Government Code. <br /> Tier 2: For COA unit members hired on or after October 24, 2011 and who are considered "classic <br /> members" by CaIPERS, retirement benefits shall be those established by the California Public Employees' <br /> Retirement System (CaIPERS) for Local Safety Members, three percent (3%) at age fifty-five (55) formula. <br /> Retirement benefits for Tier 2 COA members will be calculated based on the average of three (3) years of <br /> compensation as authorized by Section 20037 of the Government Code. <br /> Tier 3: For COA unit members hired on or after January 1, 2013 and who fit the definition of"new member' <br /> as set forth in Government Code Section 7522.02(f)the City will provide the CaIPERS two and seven-tenths <br /> percent(2.7%) at age fifty-seven (57)formula retirement plan in accordance with Government Code Section <br /> 7522.25, based on the average of three years of employment in accordance with Government code Section <br /> 7522.32. <br /> 13.2 Employee and Employer Contribution and Elimination of Employer Paid Member Contribution <br /> (EPMC) <br /> For Tier 1 (3% at 50) and Tier 2 (3% at 55) employees the City shall contribute on behalf of employees the <br /> seven percent (7%) member contribution to the retirement plan in addition to the established employer <br /> contribution, and the employee will contribute the additional two percent(2%) member contribution on a pre- <br /> tax basis. The seven percent(7%) Employer Paid Member Contribution (EPMC)contribution shall be added <br /> to the eligible compensation for establishing special compensation under the CaIPERS rules Section <br /> 20023(C)(4) in accordance with the rules and regulations governing such contributions. <br /> Tier 3 employees shall pay the rate prescribed by the California Public Employees' Retirement System for <br /> employee contributions to the California Public Employees' Retirement System in accordance with the rules <br /> and regulations governing such employee contributions, which consists of one-half of the total normal costs <br /> for pension, in addition to the cost share amounts as listed in Article 13.4. New members shall be subject to <br /> the provisions of the Public Employee Pension Reform Act (PEPRA), including provisions governing <br /> reportable compensation. <br /> Effective the first full pay period on or after April 1, 2014, or upon the 2014 amendment of the City's contract <br /> with CaIPERS to reduce Employer Paid Member Contribution (EPMC), whichever is later, the City shall <br /> eliminate two percent (2%) of the EPMC for Tier 1 and Tier 2 employees. The City shall continue to <br /> contribute on behalf of Tier 1 and Tier 2 employees five percent (5%) of the member contribution to the <br /> retirement plan. Each Tier 1 and Tier 2 employee will contribute the remaining member contribution of four <br /> percent(4%), in addition to cost sharing described herein. <br /> Effective the first full pay period on or after October 1, 2013, the salary schedule for all classifications <br /> represented by COA will be increased by two percent(2%). <br /> 8 <br />