O-004-11 - Amendment to contract w. Cal PERS

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PLEASE DO NOT SKIN "EXHIBIT ONV' 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). 5. 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 after 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 Modred). . . 7. The percentage of final compensation to be provided for each year of credited prior and current service for local miscellaneous members in employment on or after December 7, 2002 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 55 Full and Modified). B. The percentage of final compensation to be provided for each year of credited prior and current service as a local safety member entering membership in the safety classification on or prior to the effective date of this amendment to contract shall be determined in accordance with Section 21362.2 of said Retirement Law (3% at age 50 Full). 9. The percentage of final compensation to be provided for each year of credited current service as a local safety member entering membership for the first time in the safety classification after the effective date of this amendment to contract shall be determined- in accordance with Section 21363.1 of said Retirement L,pw (3% at age 55 Full).