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<br />15.1 <br /> <br />15.2 <br /> <br />15.3 <br /> <br />15.4 <br /> <br />14.2.3 <br /> <br />Reinstated employees who have completed the designated probationary period shall have all <br />years of service with the City of Redwood City credited toward accrual rates and benefit vesting <br />privileges. <br /> <br />ARTICLE 15 <br /> <br />RETIREMENT <br /> <br />The City shall contribute on behalf of members of the management unit seven percent (7%) member <br />contribution to the retirement plan in addition to the established employer contribution. The 7% contribution <br />shall be added to the eligible compensation for establishing special compensation under California Public <br />Employees Retirement System rules (PERS section 20023(c)(4). <br /> <br />Retirement benefits for employees in the management group shall be those established by the Public <br />Employees' Retirement System (PERS) for Local Miscellaneous Members two percent (2%) at fifty-five (55) <br />formula. <br /> <br />As authorized by Section 20042 of the Government Code, the City will contract with PERS to provide one <br />(1) year highest compensation PERS retirement benefit, effective July 1, 2001 or, as soon as practical <br />thereafter. <br /> <br />Upon ratification of agreements with the City by all bargaining units containing Miscellaneous Employees, <br />the City will contract with PERS to provide the Local Miscellaneous Members Section 21354.5 two and <br />seven-tenths (2.7%) at age fifty-five (55) retirement formula in accordance with all PERS rules and <br />regulations governing such contract amendment to be effective July 10, 2006. <br /> <br />Effective with the PERS contract amendment to provide Local Miscellaneous Members Section 21354.5 <br />two and seven-tenths (2.7%) at age fifty-five (55) retirement formula on July 10, 2006, the City shall <br />continue to contribute on behalf of members of the Management Unit seven percent (7%) member <br />contribution to the retirement plan in addition to the established employer contribution and the employee will <br />contribute the additional 1% member contribution on a pre-tax basis. The seven percent (7%) contribution <br />shall be added to the eligible compensation establishing special compensation under the California Public <br />Employees Retirement System rules (PERS Section 20636(c)(4) in accordance with the rules and <br />regulations goveming such contributions. <br /> <br />ARTICLE 16 <br /> <br />PAY <br /> <br />16.1 <br /> <br />Pay Period <br /> <br />Management unit employees shall be paid bi-weekly on Fridays. <br /> <br />Upon adoption of the 2005-2009 Memorandum of Understanding, the City will implement a mandatory <br />direct deposit program for all RCMEA Unit Members. <br /> <br />10 <br />