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�13.2 For COA unit members hired orior to the 2011 amendment of the Cilv's contract with CaIPERS, Rretirement <br /> benefits shall be those established by ihe Public Employees' <br /> Retirement System (PERS) for Local A4issellaaeeus-Safe Members hv�three nercent (23%) at fifty-fwe <br /> (55� formula. For COA unit members hired on or after the 2011 amendment of the CiN's contract with <br /> CaIPERS retirement benefits will be those established bv CaIPERS for Local Safetv Members, three <br /> percent (3%) at aae fiftv-five (55) formula <br /> 4513.3 Retirement benefits for COA unit members hired �rior to the 2011 amendment of the CiN's amendment of <br /> iYs contract with CaIPERS shall be <br /> ne (1) year highest compensation PERS retirement benefit, eifesti4e-ddly—� <br /> s authorized bv Section 20042 of the Government Code. <br /> Retirement benefits for COA unit members hired on or after the 2011 amendment of the CiN's contract with <br /> CaIPERS will be calculated based on the averaoe of three vears of comcensation as authorized bv Section <br /> 20037 of the Govemment Code. <br /> 13.4 In accordance with Section 20516(fl of the Govemment Code: <br /> Effective the first full pav period beqinninq on or after Januarv 1. 2012, each unit member shall pav two and <br /> one-half oercent (2.5%1 toward the emolover cost of retirement. <br /> Effective the first fuil oav oeriod beainnina on or afler Januarv 1. 2013, each unit member shall oav an <br /> additional two and one-haff cercent (2.5°hl for a total of five aercent (5°/al toward the emolover cost of <br /> retirement. <br /> 7he five oercent (5%1 emolovee cost sharinq of the emolover cost of retirement ident�ed above shall <br /> continue throuah the final full oav oeriod in Seotember 2013. The CiN and the COA shall discuss the <br /> oossible continuation of the emolovee cost sharina of the emolover cost of retirement in future neaotiations. <br /> All such emolovee contributions toward emolover cost of retirement will be made on a ore-tax basis in <br /> accordance with Section 414(h)(2) of the Intemal Revenue Code. The contributions shall not be credited to <br /> the emolovee account at CaIPERS and shall not be reimbursed to the contributor bv the CiN at anv time for <br /> anv reason. <br /> o � <br /> 0 <br /> 0 <br /> 0 0 <br /> . 6F16�6BH�F113UN9H& <br /> 15.5 ExR Incentive Plan IEIPI <br /> An emolovee who retires with a Service Retirement from the Citv between and includinq the date this <br /> tentative aqreement is ratified and adooted, and June 30. 2012, will be eliqible to receive a pavment under <br /> lo <br />