Common use of Employees without Reciprocity Clause in Contracts

Employees without Reciprocity. Employees hired on or after January 1, 2013, shall be subject to the AB340 PERS pension formula of 2.7% @ 57 with no optional pension enhancements and the other provisions of the retirement tier they were hired under. Employees shall pay fifty percent (50%) of the City’s normal cost rate for the 2.7% @ 57 as determined by ▇▇▇▇▇▇▇.

Employees without Reciprocity. Employees hired on or after January 1, 2013, shall will be subject to the AB340 PERS pension formula of 2.7% @ 57 two percent (2%) at sixty-two (62) with no optional pension enhancements and the other provisions of the retirement tier they were hired under. Employees shall will pay fifty percent (50%) of the City’s City normal cost rate for the 2.7% @ 57 two percent (2%) at-sixty-two (62) as determined by ▇▇▇▇▇▇▇.