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CONTRACT AMENDMENT COST ANALYSIS - VAWATION BASIS: Tune 30, 2006 <br />SAFETY FIRE PLAN FOR CITY OF PLEASANTON <br />EmployK Number: 327 <br />Bernell! Description: Section 21544, PrwRetlnment Optlonel Settlament 2 Death BenMtt <br />COVERAGE GROUP 74401 <br />Pre-Amendment <br />Benefit not part of Contract Package. <br />Benefit not part of Contract Package. <br />Post-Amendment <br />An employee's eligible wrvtvor may receive the Optional Settlement 2 Death benefit if the member dies <br />while addvey employed, has attained at least age 50, and has at least 5 years of credited service (total <br />service auoss all CaIPERS employers and with certain other Retlrement Systems with whkh CaIPERS <br />has redprodty agreements). A CaIPERS member must be actlvely employed with the CaIPERS <br />employer providing this benefit th be eligible for this benefit. An eligible wrvivor means the wrviving <br />spouse to whom the member was married at least one year before death. A member's wrvMor may <br />choose this benefit in lieu of the Bask Death benefit or the 1957 Survivor benefit. <br />The Optional Settlement 2 Death benefit is a morrthly albwance equal to the Service Retlrement benefit <br />that the member would have received had the member elected Optional Settlement 2 and retired on <br />the date of his or her death. (A retlree who eled3 Optional Settlement 2 receives an allowance that <br />has been r~eduoed so that it will corrtlnue th be paid after his or her death to a wrviving benefidary.) <br />The albwance is payable as bng as the wrviving spouse lives, at whkh time R is continued to any <br />unmarried children under age 18. There is a guarantee that the total amount paid will at least equal <br />the Bask Death Benefit. <br />November 16, 2007 Page 8 <br />