O-007-12 CalPERS Amendment - Laserfiche WebLink

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(g) Changes sponsored by Public Agency in existing retirement benefits, provisions or formulas made as a result of amendments, additions or deletions to California statute or to the California Constitution. 4 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). 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 AFTER SEPTEMBER 1, 1962. 6. The percentage of final compensation to be provided for each year of credited prior and current service for local miscellaneous members in employment before and not on or atter December 7, 2002 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). The percentage of final compensation to be provided for each year of credited prior and current service for local miscellaneous members in employment an or after December 7, 2002'and not entering membership for the first time in the miscellaneous classification atter the effective date of this amendment to contract shall be determined in accordance with Section 21354.5 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 (2.7% at age 65 Full and Modified).