Contracts & Agreements_104-2017 - Laserfiche WebLink

Home Browse Search

3 Effective the first payroll commencing on or after January 1, 2015, all "classic" unit members shall personally fund 100% of the 7% of compensation earnable as and for the Individual member's normal employee PERS contribution for "miscellaneous" Unit members and 100% of the 9% compensation earnable as and for the individual member's normal employee PERS contribution for "safety" unit members) All "classic" member normal contributions required to be paid by the member, whether paid by the employer or the member, shall be credited to the member's CalPERS account The City shall adopt the necessary resolution(s) so that individual member contributions made by the employee may be excluded from taxable income pursuant to Section 414(h)(2) of the United States Internal Revenue Code Whether as authorized by Government Code § 20692, 20636(c)(4) or any other statutory or legal basis, the City shall not report to CalPERS as any type of compensation, any portion of the normal employee PERS contributions required by PERS which are funded by the employee To the extent that this 2013-2015 MOU mandates payment by the City of a part of the above "classic" unit member's normal employee PERS contribution, the City shall make said payments on a pre-tax basis to the extent authorized to do so by the IRS and the Franchise Tax Board B AB 340 1 AB 340, the Public Employee's Pension Reform Act of 2013—"PEPRA" (signed by the Governor on 09/07/12,) shall in Its entirety be given full force and effect as it may from time to time exist, during and after the term of the 2013-15 MOU, as described below Any provision in the 2013- 15 MOU which contradicts any provision of AB 340 shall be deemed null and void, with the contrary AB 340 provision(s) being given full force and effect Therefore, no provision of AB 340 shall be deemed to impair any provision of the 2013-15 MOU or any MOU, Agreement, Rule or Regulation predating the 2013-15 MOU 2 Unit employees who are "new members" as defined in the above AB 340, shall individually pay an initial Member CALPERS contribution rate of 50% of the normal cost rate (as defined and calculated by CalPERS)for the Defined Benefit Plan in which said newly hired member is enrolled, rounded to the nearest quarter of 1%, or the current contribution rate of similarly situated employees, whichever is greater (AB 340—Government Code section 7522 30) 3 Unit employees who are "new members," as defined in the above AB 340, on and after January 1, 2013, shall be enrolled in either the AB 340 retirement plan of 2%@62 (Government Code section 7522 20(a), for "miscellaneous" new members, or the 2 7%at 57 retirement plan for "safety" new members (Section 7522 25), with final pensionable compensation (as defined for new members in Government Code § 7522 34) being determined by reference to the highest average annual pensionable compensation earned during a period of 36 consecutive months (Government Code § 7522 32(a) ) C Consistent with the proposal provisions above, that "classic" employees individually fund part, and eventually 100% of the statutorily mandated employee PERS contributions, said member funded payments shall not be made pursuant to Government Code section 20692 and shall not be reported to PERS as special compensation as was authorized by Government Code section 20636(c)(4) City of Redlands I DEPARTMENT DIRECTORS MOU 2017 2018 RADD Approval