AgdaPkt 2011-06-27 - Laserfiche WebLink

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6.1.13. - Page 50 TENTATIVE AGREEMENT BETWEEN CITY OF REDWOOD CITY SERVICE EMPLOYEES INTERNATIONAL UNION (SEIU) LOCAL 521 Effective with the PERS contract amendment to provide the Local Miscellaneous Members two and seven - tenths (2.7 %) at age fifty -five (55) retirement formula on July 10, 2006, each worker hired before the establishment of a second pension tier (2% at 60) will pay the worker's eight percent (8 %) contribution to the Public Employees' Retirement System in accordance with the rules and regulations governing such contributions. 23.5 The City shall maintain the implementation of the provisions of 414(h)(2) for the term of this M.O.U., so long as those provisions of (414(h)(2)) remain substantially the same, and so long as there is no additional cost the employer for this 414(h)(2) participation. In the event of such additional cost to the employer, the parties will meet and confer regarding alternative provisions. 23.6 The Fire Prevention Officer classification, which was included in the City's PERS Miscellaneous Members Retirement Plan, became a member of the City's PERS Fire Safety Members Retirement Plan effective May 6, 2002. 23.7 Effective July 1, 2003, the - Fire Prevention Officers hired prior to the 2011 amendment of the City's contract with CalPERS will be eligible for PERS Fire Safety Members Retirement formula wa e�i# f three percent (3 %) at age fifty (50). Fire Prevention Officers hired on or after the date of the 2011 amendment of the City's contract with CalPERS will be eligible for the PERS Fire Safety Members Retirement formula of three percent (3 %) at age fifty -five (55). For Fire Prevention Officers hired prior to the 2011 amendment of the City's contract with CalPERS, the City has contracted with PERS to provide the one (1) 23.8 Employee Contribution to Emolover Share of Pension Page 24 of 30 t retirement benefit will be calculated based on the last three years of compensation as authorized by Section 20037 of the Government Code. accordance with California Government Code Section 20516(f).