Agmt14 Redwood City Management Employees Association MOU 2013-2016

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(60)formula retirement plan in accordance with Government Code Section 21353, based on the average of three years of employment, in accordance with Government Code Section 20037. Tier 3: For employees hired on or after January 1, 2013 and who meet the definition of"new member" as set forth in Government Code Section 7522.02(f)the City will provide the CaIPERS two percent(2%) at age sixty-two (62)formula retirement plan in accordance with Government Code Section 7522.20, based on the average of three years of employment, in accordance with Government Code Section 7522.32. 15.2 Employee and Employer Contribution and Elimination of Employer Paid Member Contribution (EPMC) Tier 1 and Tier 2 Employees: The City shall contribute on behalf of employees the seven percent (7%) member contribution to the retirement plan in addition to the established employer contribution, and Tier 1 employees will contribute the additional one percent(1%) member contribution. The seven percent(7%) Employer Paid Member Contribution (EPMC)for Tier 1 and Tier 2 employees shall be added to the eligible compensation for establishing special compensation under the CaIPERS rules Section 20636(C)(4) in accordance with the rules and regulations governing such contributions. Tier 3 employees shall pay the rate prescribed by the California Public Employees' Retirement System (CaIPERS) for employee contributions to CaIPERS in accordance with the rules and regulations governing such employee contributions, which consists of one-half of the total normal costs for pension. New members shall be subject to the provisions of the Public Employee Pension Reform Act(PEPRA), including provisions governing reportable compensation. Effective the first full pay period on or after July 1, 2014, or upon the 2014 amendment of the City's contract with CaIPERS to reduce Employer Paid Member Contribution (EPMC), whichever is later, the City shall eliminate two percent (2%) of the EPMC for Tier 1 and Tier 2 employees. The City shall continue to contribute on behalf of Tier 1 and Tier 2 employees five percent (5%) of the member contribution to the retirement plan. Each Tier 1 and Tier 2 employee will contribute the remaining member contribution (three percent (3%) for Tier 1 employees and two percent(2%) for Tier 2 employees), in addition to cost sharing describe herein. Effective the first full pay period on or after July 1, 2014, or upon the 2014 amendment of the City's contract with CaIPERS to reduce EPMC, whichever is later, the salary schedule for all classifications represented by RCMEA will be increased by two percent(2%). Effective the first full pay period on or after July 1, 2015, or upon the 2015 amendment of the City's contract with CaIPERS to reduce EPMC,whichever is later, the City shall eliminate an additional two percent(2%)of the EPMC for Tier 1 and Tier 2 employees. The City shall continue to contribute on behalf of Tier 1 and Tier 2 employees three percent (3%) member contribution to the retirement plan. Each Tier 1 and Tier 2 employee will contribute the member contribution (five percent (5%) for Tier 1 employees and four percent (4%)for Tier 2 employees), in addition to cost sharing described herein. Effective the first full pay period on or after July 1, 2015, or upon the 2015 amendment of the City's contract with CaIPERS to reduce EPMC, whichever is later, the salary schedule for all classifications represented by RCMEA will be increased by two percent(2%). Effective the first full pay period on or after July 1, 2016, or upon the 2016 amendment of the City's contract with CaIPERS to reduce EPMC, whichever is later, the City shall eliminate the final three percent(3%)of the EPMC for Tier 1 and Tier 2 employees. Each Tier 1 and Tier 2 employee will contribute the full member 10