2001 RES R-37A-01 - Laserfiche WebLink

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FLLr► iE DO NOT SIGN "EXHISI i 3. 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). 4. 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: a. PERSONS COMPENSATED ON AN HOURLY BASIS HIRED ON OR AFTER SEPTEMBER 1, 1962. 5. The percentage of final compensation to be provided for local miscellaneous members for each year of credited prior and current service shall be determined in accordance with Section 21354 of said Retirement Law, subject to the reduction provided therein for service on and after January 1, 1956, the effective date of Social Security coverage, and prior to December 31, 1979, termination of Social Security, for members whose service has been included in Federal Social Security (2% at age 55 Full and Modified). 6. The percentage of final compensation to be provided for each year of credited prior and current service as a local safety member shall be determined in accordance with Section 21362.2 of said Retirement Law (3% at age 50 Full). The required member contribution rate is 9% of reportable compensation. 7. Public Agency elected and elects to be subject to the following optional provisions: a. Section 20042 (One -Year Final Compensation). b. Section 21024 (Military Service Credit as Public Service), Statutes of 1976. C. Section 20614, Statutes of 1978, (Reduction of Normal Member Contribution Rate). From July 7, 1979 and until September 24, - 1993, the normal local miscellaneous member contribution rate shall be 3.5% and the normal local fire member contribution rate shall be 4.5%. From July 7, 1979 until July 17, 1993, the normal local police member contribution rate shall be 4.5%. Legislation repealed said Section effective September 29, 1980.