Tier I. Unit members hired prior to July 1, 2011, shall be eligible for the 3% @ 50 retirement formula for Local Safety members. The City pays 9% on behalf of the employee share and the unit member pays 9% toward the CalPERS “employer” share, on a “cost sharing” basis, at the same percentage and at the same starting date as the City’s contributions “toward the employee share.” The employee contribution is “compensation earnable” as defined in Government Code section 20636. The City shall continue the highest level of the 1959 survivor benefit.
Appears in 2 contracts
Sources: Memorandum of Understanding, Memorandum of Understanding