ORD 2053 - Laserfiche WebLink

(f) The termination of this Contract either voluntarily by request of Public Agency or involuntarily pursuant to the Public Employees' Retirement Law. (g) Changes sponsored by Public Agency in existing retirement benefits, provisions or formulas made as a result of amendments, additions or deletions to California statute or to the California Constitution. 4. Employees of Public Agency in the following classes shall become members of said Retirement System except such in each such class as are excluded by law or this agreement: a. Local Fire Fighters (herein referred to as local safety members); b. Local Police Officers (herein referred to as local safety members); c. Employees other than local safety members (herein referred to as local miscellaneous members). 5. In addition to the classes of employees excluded from membership by said Retirement Law, the following classes of employees shall not become members of said Retirement System: NO ADDITIONAL EXCLUSIONS 6. This contract shall be a continuation of the contract of the fire function of the contract portion of the City of Livermore, hereinafter referred to as "Former Agency". The accumulated contributions, assets and liability for prior and current service under the Former Agency's contract shall be merged pursuant to Section 20508 of the Government Code. Such merger occurred October 31, 1998. 7. The percentage of final compensation to be provided for each year of credited prior and current service as a local miscellaneous member in employment before and not on or after December 7, 2002 shall be determined in accordance with Section 21354 of said Retirement Law (2% at age 55 Full). 8. The percentage of final compensation to be provided for each year of credited prior and current service as a local miscellaneous member in employment on or after December 7, 2002 shall be determined in accordance with Section 21354.5 of said Retirement Law(2.7% at age 55 Full).