RES 12531 - Laserfiche WebLink

j. Section 20475 (Different Level of Benefits Provided for New Employees). Section 20516 (Public Agency and its employees have agreed to share the cost of the following benefit: Section 20042 (One-Year Final Compensation). This shall not apply to those local fire members transferred from the City of Livermore nor to newly hired local fire employees entering membership after October 31, 1998. Section 21363.1 (3% @ 55 Full formula) and Section 20037 (Three- Year Final Compensation) are applicable to local police members entering membership for the first time in the police classification after the effective date of this amendment to contract. k. Section 21024 (Military Service Credit as Public Service). Section 21548 (Pre-Retirement Option 2W Death Benefit) for local fire members only. 12. Public Agency, in accordance with Government Code Section 20790, ceased to be an "employer" for purposes of Section 20834 effective on April 11, 1981. Accumulated contributions of Public Agency shall be fixed and determined as provided in Government Code Section 20834, and accumulated contributions thereafter shall be held by the Board as provided in Government Code Section 20834. 13. Public Agency shall contribute to said Retirement System the contributions determined by actuarial valuations of prior and future service liability with respect to local miscellaneous members and local safety members of said Retirement System. 14. Public Agency shall also contribute to said Retirement System as follows: a. Contributions required per covered member on account of the 1959 Survivor Benefits provided under Section 21573 of said Retirement Law. (Subject to annual change.) In addition, all assets and liabilities of Public Agency and its employees shall be pooled in a single account, based on term insurance rates, for survivors of all local miscellaneous members. b. Contributions required per covered member on account of the 1959 Survivor Benefits provided under Section 21574 of said Retirement Law. (Subject to annual change.) In addition, all assets and liabilities of Public Agency and its employees shall be pooled in a single account, based on term insurance rates, for survivors of all local fire members.