Agmt11 Redwood City Police Sergents Association (PSA)

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TENTATIVE AGREEMENT BETWEEN THE CITY OF REDWOOD CITY AND REDWOOD CITY POLICE SERGEANTS ASSOCIATION (PSA) I 19.3 Citv's Contribution to Retirement Svstem The City shall pay the rate prescribed by the Public Employees' Retirement System for employer contributions to the Public Employees' Retirement System in accordance with the rules and regulations governing such employer contributions. In accordance with Section 20518(fl of the Government Code: Effective the first full pav oeriod beqinnina on or after Seotember 1. 2011, each unit member shall oav two oercent (2%1 toward the emolover cost of retirement. Effective the first full oav oeriod beainnina on or after Seotember 1. 2012. each unit member shall �av an additional two �ercent (2%1 for a total of four qercent (4%1 toward the emplover cost of retirement. ; Effective the first full oav oeriod beqinnina on or after Seotember 1. 2013. each unit member shall oav an additional three �ercent (3%l for a total of seven percent (7%) toward the emolover cost of retirement. The contributions shall not be credited to the emolovee account at CaIPERS and shall not be reimbursed to the contributor bv the Citv at anv time for anv reason. If the Redwood Citv Police Officers' Association contribution toward the emnl�er cost of retirement stops in the future, then it shall stop at the same time for the PSA and the contract �rovisions reflardina contribution to retirement svstem shall be reo�ened for neaotiation. � If beqinnina on or after the first fu(I �av period of September 1. 2013. the emolover rate for retirement for the baraainina unit is less than thirtv-seven �ercent (37%l. the emalovee contribution toward the emolover cost of retirement will be reduced bv one percent (1%1 for each full one oercent reduction in the em�lover rate below 37%. June 3, 2011 — City Page 10