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6.13. - Page 65 of 366 <br />Tier 1: For COA unit members hired prior to October 24, 2011, retirement benefits shall be <br />those established by the California Public Employees' Retirement System (CaIPERS) for <br />Local Safety Members three percent (3%) at fifty (50) formula, Retirement benefits for Tier <br />1 COA members will be calculated based on one (1) year highest compensation CaIPERS <br />benefit, as authorized by Section 20042 of the Government Code, <br />Tier 2: For COA unit members hired on or after October 24, 2011 and who do not meet the <br />definition of "new member" as set forth in Government Code Section 7522.04(f) " +,� "tee <br />"Glassin members" by GalP C retirement benefits shall be those established by the <br />California Public Employees' Retirement System (CaIPERS) for Local Safety Members, <br />three percent (3%) at age fifty-five (55) formula. Retirement benefits for Tier 2 COA <br />members will be calculated based on the average of three (3) years of compensation as <br />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 <br />"new member" as set forth in Government Code Section 7522.02(f) the City will provide the <br />CaIPERS two and seven -tenths percent (2.7%) at age fifty-seven (57) formula retirement <br />plan in accordance with Government Code Section 7522.25, based on the average of three <br />ayears of employment in accordance with Government code Section 7522.32. <br />1 13.2 Employere and Employeer- Contribution to the Retirement System <br />The City shall pay the rate prescribed by the Public Employees' <br />Retirement system for employer contributions to the Public Employees' <br />Retirement System in accordance with the rules and regulations <br />aoverninq such employer contributions, minus the employee cost share <br />reflected herein. <br />Employees enrolled in Tier 1 3% 50 and Tier 2 3% 55 are <br />required to contribute nine percent 9% of pensionable compensation <br />as the employee member contributionplus an additional three percent <br />3% of pensionable compensation toward the City's pension <br />contribution in accordance with California Government Code Section <br />20516(a) and plus an additional six percent 6% of pensionable <br />compensation toward the City's pension contribution in accordance with <br />California Government Code Section 20516(f), for a total of eighteen <br />percent 18% of pensionable compensation. <br />Employees in Tier 3 (2.7% a 57) are required to contribute fiftyep rcent <br />(50%) of the normal contribution for pension as determined by CaIPERS <br />in accordance with California Government Code Section 7522.30, plus <br />an additional six percent 6% of pensionable compensation toward the <br />City's pension contribution in accordance with California Government <br />Code Section 20516(f). <br />0 <br />TSLe�:IA1�41T::1TT�TSt7k1R�rT.sT.si:T.7'�Zrrm...r.Za1G1:� <br />16 <br />84 <br />