AgdaPkt 2011-08-22 - Laserfiche WebLink

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6.3. B. - Page 2 Redwood City Management Employees Association: • Effective January 1, 2012 each unit member will pay two and one-half percent (2.5%) toward the employer cost of retirement • Effective January 1, 2013 each unit member will pay five percent (5%) toward the employer cost of retirement Redwood City Police Officers Association: • Effective September 1, 2011 each unit memberwill pay two percent (2%) toward the employer cost of retirement • Effective September 1, 2012 each unit member will pay four percent (4%) toward the employer cost of retirement • Effective September 1, 2013 each unit member will pay seven percent (7%) toward the employer cost of retirement Redwood City Police Sergeants Association: • Effective September 1, 2011 each unit member will pay two percent (2%) toward the employer cost of retirement • Effective September 1, 2012 each unit member will pay four percent (4%) toward the employer cost of retirement • Effective September 1, 2013 each unit member will pay seven percent (7%) toward the employer cost of retirement Service Employees International Union (SEIU) Local 521: • Effective February 1, 2012 each unit member will pay two percent (2%) toward the employer cost of retirement • Effective February 1, 2013 each unit member will pay three and eight-tenths percent (3.8%) toward the employer cost of retirement. The City is electing to pick up these employee contributions toward the employer rate as employer contributions for income tax purposes only. The contributions are mandatory. Employees may not receive the contributed amounts directly instead of having them paid by the City of Redwood City to the Public Employees' Retirement System. ALTERNATIVES Pursue other alternatives as directed by the City Council.