Common use of Employees Hired Before June 21, 2010 Clause in Contracts

Employees Hired Before June 21, 2010. Employees are covered by the CalPERS "3% @ 60" benefit formula. This plan provides 3 percent of pay at age 60 for each year of service credited with the City. Effective September 12, 2011, the City will contribute up to 2 percent of the member's required contribution (EPMC), and the employee will pay 6 percent of the member’s required contribution.

Employees Hired Before June 21, 2010. Employees are covered by the CalPERS "3% @ 60" benefit formula. This plan provides 3 percent of pay at age 60 for each year of service credited with the City. Effective September 12, 2011, the City will contribute up to 2 percent of the member's required contribution (EPMC), and the employee will pay 6 percent of the member’s required contribution.