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2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />an employee is considered a "new member" or a "classic member." For <br />safety members, the Police and Fire Chiefs, a member will be considered <br />a "new member" if. (i) he or she becomes a member of CalPERS for the <br />first time on or after January 1, 2013, and he or she was not previously a <br />member of any other public retirement system; (ii) he or she becomes a <br />member of CalPERS for the first time on or after January 1, 2013 and he <br />or she was a member of another public retirement system prior to January <br />1, 2013, but is not eligible for reciprocity pursuant to the Code Section <br />7522.02(c) and Section 579.3 of Title 2 of the California Code of <br />Regulations; or (iii) he or she who was an active CalPERS member prior <br />to January 1, 2013 with an employer other than the City, and then after a <br />break in service lasting more than six months, is hired by the City after <br />January 1, 2013. Employees who are not "new members" are considered <br />"classic members." <br />1. Retirement Formulas and Contributions <br />(a) Classic Members. <br />(i) Employees Hired Before July 1, 2010. Classic members who <br />are sworn employees hired before July 1, 2010 shall be enrolled in the City's 3% at 50 <br />retirement plan. The normal member contribution required by CalPERS, currently 9% of <br />PERSable compensation, shall be paid by each employee via salary reduction. Final <br />compensation shall be determined by using the "highest single year of compensation" <br />pursuant to California Government Code section 20042. <br />(ii) Employees Hired On or After July 1, 2010. Classic members <br />who are sworn employees hired on or after July 1, 2010 shall be enrolled in the City's 3% at <br />55 retirement plan. The normal member contribution required by CalPERS, currently 9% of <br />PERSable compensation, shall be paid by each employee via salary reduction. Final <br />compensation shall be determined by using the "highest single year of compensation" <br />pursuant to California Government Code section 20042. <br />(iii) Employees Previously Employed by the City. If the City hires a <br />classic member who was previously employed by the City as a sworn employee, such classic <br />member shall be enrolled in the retirement plan in which he or she was enrolled during his or <br />her prior employment with the City. <br />(b) New Members. <br />Pursuant to PEPRA, new members shall be enrolled in the 2.7% at 57 <br />retirement plan. PEPRA requires new safety members to contribute fifty percent (50%) of the <br />annual actuarially determined normal cost attributable to the applicable retirement plan in <br />which they are enrolled (i.e., 2.7% at 57 retirement plan), rounded to the nearest quarter of 1 <br />percent. This mandatory employee contribution amount is set by CalPERS on an annual <br />Resolution No. R-64-17 <br />Page 4 of 16 <br />