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2 /72005 <br />Third year: Effective the first full pay period that includes October 1, 2007, salaries will <br />be increased by the percentage change equal to the percentage change in the <br />Consumer Price Index (All Urban Consumers) for the San Francisco /Oakland /San Jose <br />Bay Area for the continuous twelve (12) month period ending with August 2007. <br />Fourth year: Effective the first full pay period that includes October 1, 2008, salaries will <br />be increased by the percentage change equal to the percentage change in the <br />Consumer Price Index (All Urban Consumers) for the San Francisco /Oakland /San Jose <br />Bay Area for the continuous twelve (12) month period ending with August 2008. <br />Retirement <br />Upon agreement with all bargaining units containing Miscellaneous employees and <br />effective July 10, 2006, the City will contract with PIERS to amend its current retirement <br />formula for Local Miscellaneous Members to the 2.7@ 55 formula. <br />3. Resolution No. 14386 entitled, "Resolution Establishing a Salary and <br />Wage Plan for Employee Classifications Represented by the Redwood City <br />Management Employees' Association (RCMEA), and Rescinding Resolution No. 13585 <br />and Any and All Amendments Pertaining Thereto," adopted October 1, 2001, is hereby <br />rescinded. <br />4. This Resolution shall be effective upon the date of its adoption. <br />Atty /Reso /Reso.1517 14627 <br />020105 2 Muff # 905 <br />