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CONTRACT AMENDMENT COST ANALYSIS -VALUATION BASIS: 7urle 30, 2006 <br />SAFETY FIRE PLAN FOR CITY OF PLEASANTON <br />Employer Number. 327 <br />BeneNt Dasaiption: Section 2154E, Pn-Ratlroma:t Optlonai Settlement 2 Death BaneAt <br />Summary of Plan Amendments Valued <br />COVERAGE GROUP 74001 <br />Pre-Amendment <br />• Benefit not part of Contract Package. <br />• Benefit not part of Contract Package. <br />Post-Amendment <br />An empbyee's eligible survivor may receive the Optional Settlement 2 Death benefit if the member dies <br />while actively empk>yed, has attained at least age 50, and has at least 5 years of credited service (total <br />servke across all CaIPERS employers and with oertaln other Retirement Systems with which CaiPERS <br />has redproofty agreernerrts). A CaIPERS member must be actively employed with the CaIPERS <br />empkoyer providing this benefit m be eligible for this benefit. An eligible survivor means the surviving <br />spouse to whom the member was married at least one year before death. A member's survivor may <br />choose this benefR in lieu of the Bask Death benefit or the 1957 SurvNor benefit. <br />The Optional Settlement 2 Death benefit is a mouthy alk„nranoe equal th the Servke Retirement benefi <br />that the member would have received had the member elected Optional Settlement 2 and retlred on <br />the date of his or her death. (A retlree who elects Optional Settlement 2 receives an albwanoa that <br />has been reduced so that It will contlnue bo be paid after his or her death to a surviving benefidary.) <br />The allowance is payable as bug as the surviving spouse lures, at whkh time it is continued to arty <br />unmarried chiktren urxkr age 18. There is a guarantee that the total amount pall will at least equal <br />the Bask Death Benefit. <br />November 16, 2007 Page 6 <br />