R-038-23 Amending the Regulations Governing Compensation and Benefits of Non-Represented Exexcutive Group Employees

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1 Section 1. Retirement. — PERS. The City shall provide Executive Group 2 employees with retirement benefits, as currently specified under the city's applicable contracts with the Public Employees' Retirement System (PERS). Benefits shall include: 3 Employees hired before PERS' Two-Tier Plan Amendment 4 3% at age 50 formula for Police Chief; 5 3% at age 50 formula for Fire Chief; 2.7% at age 55 formula for miscellaneous employees 6 One-year final compensation Military buyback 7 Post-Retirement Survivor Allowance for Fire, and Police Chief 8 Employees hired after PERS' Two-Tier Plan Amendment 9 3% at age 55 formula for Police Chief; 10 3% at age 55 formula for Fire Chief; 2.5% at age 55 formula for miscellaneous employees 11 One-year final compensation Military buyback 12 Post-Retirement Survivor Allowance for Fire, and Police Chief 13 Notwithstanding the above, pursuant to the California Public Employees' Reform Act of 2013 14 ("PEPRA"), retirement benefits are based on whether an employee is considered a "new 15 member" or a "classic member." For safety members, the Police and Fire Chiefs, a member will be considered a "new member" if: (i) he or she becomes a member of CalPERS for the 16 first time on or after January 1, 2013, and he or she was not previously a member of any other public retirement system; (ii) he or she becomes a member of CalPERS for the first time on or 17 after January 1, 2013 and he or she was a member of another public retirement system prior to 18 January 1, 2013, but is not eligible for reciprocity pursuant to the Code Section 7522.02(c) and Section 579.3 of Title 2 of the California Code of Regulations; or (iii) he or she who was 19 an active CalPERS member prior to January 1, 2013 with an employer other than the City, and then after a break in service lasting more than six months, is hired by the City after 20 January 1, 2013. Employees who are not "new members" are considered "classic members." 21 A. Retirement Formulas and Contributions 22 (a) Classic Members. 23 24 (i) Employees Hired Before October 15, 2011. Classic members who are sworn employees hired before October 15, 2011 shall be enrolled in the City's 3% at 25 50 retirement plan. The normal member contribution required by CalPERS, currently 9% of PERSable compensation, shall be paid by each employee via salary reduction. Final 26 compensation shall be determined by using the "highest single year of compensation" 27 pursuant to California Government Code section 20042. 28 (ii) Employees Hired On or After October 15, 2011 Classic members who are sworn employees hired on or after October 15, 2011 shall be enrolled in the City's 3% at 55 retirement plan. The normal member contribution required by CalPERS, currently 9%of PERSable compensation, shall be paid by each employee via salary reduction.