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IJ� • • <br /> TENTATNE AGREEMENT BETWEEN CITY OF REDWOOD CITY <br /> AND REDWOOD CITY POLICE OFFICERS' ASSOCIATION (RCPOA) <br /> CaIPERS for Local Safety Members, Three Percent (34�6) at qge F'dty-Five <br /> (55) Fortnula. i� <br /> 14.2 Oodonal Provisions Added <br /> ;' <br /> Optional. Public Agency Provisions under the PubGc Employees' <br /> RetiremeM System shail also be �provided as follows: <br /> 1. The fourth level of Survivor Benefits as authorized by Section <br /> 21574 of the Govemment,Code. <br /> 2. EtfecUve March 16, 1989,' retiremeM benefits far employees hired <br /> before the date of the City's amendmeM of its coMract with <br /> CaIPERS will be calculated based on one (1) year highest <br /> compensation as authoriied by Sedion 20042 of ihe Govemment <br /> Code. <br /> 3. Retiremerrt benefits for employees hired on or after the date of the <br /> City's amendment of its contract with CaIPERS wili be calc:+�late� <br /> based on the average of three years of compensation as <br /> authorized by Section 20037 of the GovemmeM Code. <br /> 4. Pre-Retirement optional Settlement 2 Death Benefits as authorized <br /> by Section 21548. <br /> 14.3 Cltv's Contributfon to ReUrament Svstem <br /> The City shall pay the rate �prescribed by the Public Employees' <br /> ReUremerrt system for employer coMributions to the Pubiic Employees' <br /> Re6remeM System in axordance with the rules and regulations goveming <br /> such employer contributions. � <br /> i, <br /> In axordance with Sectiort 20578(� of fhe GovemmeM Code: <br /> Effedive the first full pay period beginning on or after September 1, 2011, <br /> each unit member shall pay two percerrt (2°�) toward the employer cost of <br /> retirement. <br /> Effedive the first fuil pay period tieginning on or after September 1, 2012, <br /> each unk member shall pay an add�ional two percent (2°6) for a total of <br /> four percent (4%) toward the employer cost of retirement. <br /> Effedive the first full pay period beginning on or after September 1, 2013, <br /> each unit member shall pay an additional three percent (3%) for a total of <br /> seven perceM (7qfo) toward the employer cost of retiremerrt. <br /> lune 9 2011 7 <br />