ORD 2156 - Laserfiche WebLink

PLEASE DO NOT SIGN "EXHIBIT ONLY" j. Section 20475 (Different Level of Benefits): 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 21383.1 (3% @ 55 Full formula) and Section 20037 (Three- Year Final Compensation) are applicable to classic local police members entering membership for the first time with this agency in the police classification after July 7, 2012. Section 21383.1 (3% @ 55 Full formula) and Section 20037 (Three- Year Final Compensation) are applicable to classic local fire members entering membership for the first time with this agency in the fire classification after December 22, 2012. k. Section 21024 (Military Service Credit as Public Service). I. Section 21548 (Pm-Retirement Option 2W Death Benefit) for local fire members only. m. Section 20516 (Employees Sharing Additional Cost): From and after July 4, 2015 and until November 7, 2015, .5% for classic local fire members. From and after November 7, 2015, and until July 1, 2016, 1% for classic local safety members. From and after July 1, 2016, and until the effective date of this amendment to contract, 1.5% for classic local safety members. From and after the effective date of this amendment to contract, 3% for classic local fire members. The portion of the employer's contribution that the member agrees to contribute from his or her compensation, over and above the member's normal contribution ("Cost Sharing Percentage"), shall not exceed the Employer Normal Cost Rate, as that rate is defined in the CaIPERS Actuarial Valuation for the relevant fiscal year. If the Cost Sharing Percentage will exceed the relevant Employer Normal Cost Rate, the Cost Sharing Percentage shall automatically be reduced to an amount equal to, and not to exceed, the Employer Normal Cost Rate for the relevant fiscal year.