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8.3.B. - Page 41 <br /> Tier 2 7% 9% <br /> Tier 3* 5.75% 12% <br /> *The mandatory contribution for Tier 3 Members is 50% of the normal cost of <br /> the benefit, subject to change each fiscal year. <br /> Employee Contribution to Employer Share of Pension - The City shall pay the <br /> rate prescribed by the Public Employees' Retirement System for employer contributions <br /> to the Public Employees' Retirement System in accordance with the rules and <br /> regulations governing such employer contributions. <br /> Effective October 31, 2016 in accordance with Section 20516(f) of the Government <br /> Code, employees in Tier 1 and Tier 2 retirement formula plans shall pay a total of nine <br /> percent (9%) of salary toward the employer cost of retirement, and employees in the <br /> Tier 3 retirement formula plan shall continue to pay a total of two percent (2%) of <br /> salary toward the employer cost of retirement. The current contribution rates are as <br /> follows: <br /> Miscellaneous Members Public Safety Members <br /> Tier 1 9% 9% <br /> Tier 2 9% 9% <br /> Tier 3* 2% 2% <br /> The contributions to the employer share of pension shall not be credited to the <br /> employee account at CaIPERS and shall not be reimbursed to the contributor by the City <br /> at any time for any reason. <br /> PERS Military Leave Credit Option — Members who are qualified may apply to PERS <br /> for up to four- (4) year's military credit. The individual employee would be responsible <br /> for payment of all the costs of this benefit except for the contractual option between <br /> the City of Redwood City and the Public Employees Retirement System. <br /> VI. REIMBURSEMENTS/ALLOWANCES <br /> a. Educational Expense Reimbursement - Executive Management employees <br /> shall be eligible for reimbursement of costs of tuition, registration fees, books <br /> and supplies, and other educational expenses incurred in connection with <br /> enrollment in and successful completion of courses of instruction related to the <br /> employee's position with the City or a higher position with the City. <br /> An Executive Management employee shall be eligible to receive reimbursement <br /> not to exceed one thousand five hundred dollars ($1,500.00) per fiscal year, <br /> provided that the courses of instruction require attendance at an accredited <br /> community college or university, are part of a curriculum leading to a degree, are <br /> Page 13 of 18 <br />