Laserfiche WebLink
HOW WE GOT HERE—ENHANCED BENEFITS <br /> • At Ca1PERS, Enhanced Benefits implemented using all (future & prior) service <br /> • Typically not negotiated with cost sharing <br /> • City Tier 1 Tier 2 PEPRA <br /> • Miscellaneous 2.7%@55 FAE1 n/a 2%@62 FAE3 <br /> • Police Safety 3%@50 FAE1 3%@55 FAE3 2.7%@57 FAE3 <br /> • Fire Safety 3%@50 FAE1 3%@55 FAE3 2.7%@57 FAE3 <br /> • Note: <br /> ❑ FAE1 is highest one year(typically final) average earnings <br /> ❑ FAE3 is highest three years (typically final three) average earnings <br /> L7 <br /> LEASANTON. <br /> December 19,2017 5 <br /> HOW WE GOT HERE—OLD CONTRIBUTION POLICY <br /> • Effective with 2003 valuations: <br /> • Slow (15 year) recognition of investment losses into funded status <br /> • Rolling 30 year amortization of all (primarily investment) losses <br /> • Designed to: <br /> • First smooth rates and <br /> • Second pay off UAL <br /> • Mitigated contribution volatility <br /> December 19.2017 6 <br />