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6.2B <br /> Page 20 <br /> The City shall contribute an behalf of inembers of the Executive Management seven <br /> percent (7%) tawards the employee's �ontribution to the Pub(ic Employees Retirement <br /> System. The 7�io contributinn snafi be added to the eiigibie compensation ror <br /> establishing special compensation under Califarnia Public Employees Retirement System <br /> rules (PERS section 20023(c) (4). <br /> Effective with the PERS contract amendment to provide the Local Miscelianeaus <br /> Members Section 21354.5, two and seven-tenths percent (2.7%} at age fifty-five (55) <br /> retirement formula on July f.0, 2006, the City shal( continue to contribute on behalf of <br /> members of �he txecu�ive Nianagement group th� s�ve� per�ent �7%} memb�r <br /> contribufio� icc� rne re�irerr`�er�� pian in addiii�� tu i�ie esta�iiisl�ied �m}�loyer �ontributior <br /> and the employee will contribute the additional one percent (1%) member contribution <br /> on a pre-tax basis. The seven percent (7%) contributian shal( be added ta the eligible <br /> compensation for establishing special compensation under the California Public <br /> Employe�s Retirement System rules (PERS Section 2Q63bQ(4) in accordance with the <br /> rules and regulations governing such contributions. <br /> Please refer to the apprapriate Public Employees' Retirement booklet for detai(s of the <br /> 2% at 50, 2% at 55, 2.7% @ 55 or 3% @ 50 formula retirement plan benefits. <br /> PERS Militarv 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 af aN the costs of this benefit except for the contractual option between <br /> the City of Redwood City and the Public Employees Retirement System. <br /> �I. �'.E�C��t3€'.��!'�E":TS/�.'�L�'�IA�lC�� <br /> a. Ed�cationat �xpense Reimbursement - Execut'sve Management employees <br /> shall be eligible for reimbursement of casts af tuition, registratian fees, books and <br /> suppiies, and other educa�ional expenses iricurrE� in connection v�ith enroiiinent <br /> in and successful completion af courses of instruction reiated to the employee's <br /> positian with the City or a higher position with the City. <br /> An Executive Management employee shall be eligible fio receive reimbursem�nt <br /> nat to exceed six hundred-fifty dollars ($650.00} per fiscal year, provided that the <br /> courses of insfiruction require atfendance at an accredited community callege or <br /> university, are parfi of a curriculum Ieading to a degree or given by an accredited <br /> institution of learning, are approved in advance of enrollment by the Human <br /> Resources Director, and the employee successfully completes such course <br /> 14 <br />