Res15 15460 - Laserfiche WebLink

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Effective the first full pay period beginning on or after January 1, 2014, each unit member shall pay an additional two percent (2%) for a total of seven percent (7%) toward the employer cost of retirement. Effective the first full pay period beginning on or after January 1, 2015 pay an additional two percent (2.5%) for a total of nine and five-tenths percent (9.5%) toward the employer cost of retirement. Effective the first full pay period beginning on or after January 1, 2016 each unit member shall pay an additional two percent (2.5%) for a total of twelve percent (12%) toward the employer cost of retirement. In accordance with Section 20516(� of the Government Code, Effective January 1, 2013, tier 3 retirement members shall pay 2% toward the employer cost of retirement. The contributions to the employer share of pension shall not be credited to the employee account at CaIPERS and shall not be reimbursed to the contributor by the City at any time for any reason. PERS Military Leave Credit Option — Members who are qualified may apply to PERS for up to four- (4) year's military credit. The individual employee would be responsible for payment of all the costs of this benefit except for the contractual option between the City of Redwood City and the Public Employees Retirement System. VI. REIMBURSEMENTS/ALLOWANCES a. Educational Expense Reimbursement -. Executive Management employees shall be eligible for reimbursement of costs of tuition, registration fees, books and supplies, and other educational expenses incurred in connection with enrollment in and successful completion of courses of instruction related to the employee's position with the City or a higher position with the City. An Executive Management employee shall be eligible to receive reimbursement not to exceed six hundred-fifry dollars ($650.00) per fiscal year, provided that the courses of instruction require attendance at an accredited community college or university, are part of a curriculum leading to a degree or given by an accredited institution of learning, are approved in advance of enrollment by the Human Resources Director, and the employee successfully completes such course submitted for reimbursement with a grade of "C" or better. The Educational Expense Reimbursement Program may be used for professional development workshops or seminars. ATfY/RES0.3159/CC RESO AMENDING EXECUTIVE MANAGEMENT SUMMARY REV:11-24-15 RS Page 16 of 19