Public Employees Retirement System (PERS. The following applies to those employees who were employed by the Air District on or before December 31, 2012 and to those employees who are otherwise eligible as ‘classic members’ as defined by CalPERS: 2% at 55 FULL RETIREMENT FORMULA: The District amended the PERS contract to implement the “2.0% at age 55 formula” effective July 22, 2002. Employees who began CalPERS membership at the Air District or another qualifying CalPERS agency on or after January 1, 2013 shall participate in the 2% at 62 FULL RETIREMENT FORMULA. In the event that any part of PEPRA which affects benefits described herein is amended or otherwise voided by action of the legislature, electorate or court of law, the parties shall immediately reopen negotiations concerning such provisions and shall bargain this provision in accordance with MMBA requirements.
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Samples: www.baaqmd.gov, www.baaqmd.gov, www.baaqmd.gov
