Public Safety PERS Clause Samples
The Public Safety PERS clause establishes the terms and conditions related to participation in a Public Employees Retirement System (PERS) specifically for public safety employees, such as police officers or firefighters. It typically outlines eligibility requirements, contribution rates, and the calculation of retirement benefits for these employees, ensuring that their unique service risks and retirement needs are addressed. This clause serves to clarify the retirement benefits structure for public safety personnel, ensuring compliance with statutory requirements and providing transparency for both the employer and employees regarding retirement provisions.
Public Safety PERS. The parties agree to continue to review costs associated with Public Safety PERS coverage for police officers based on resources.
Public Safety PERS. It is the intent of the parties to reach agreement on a change to sworn officers with the P.O.A. from California Public Employment Retirement Systems (CalPERS) and to contract for California Public Employee’s Pension Reform Act (PEPRA) Safety P.E.R.S. 2.7% @ 57. The adoption of Cal SafetyPERS for sworn officers of the District will align the District with other comparable agencies that currently offer SafetyPERS for eligible employees. Participation in Cal SafetyPERS requires participation in the 1959 Survivor Benefit Plan, although members may elect, as a group, to continue participation in Social Security. The parties agree that the adoption of Cal SafetyPERS for sworn officers will not result in employer contribution expenses in excess of those budgeted for the membership of sworn officers in regular CalPERS. The parties acknowledge that both Regular CalPERS and Cal SafetyPERS are subject to unfunded liability costs based on experience rate, and the expected revenues from both deposits to the fund and any earnings from investments. Unfunded liability for Regular
Public Safety PERS. The parties agree to continue to review costs associated with Public Safety PERS coverage for police officers based on resources. Effective January 1, 2005 and continuing until June 30, 2006, the District, as a recruitment and retention incentive, agrees to pay police officers who retire from PERS a percentage of their balance of full salary sick leave hours at the time of retirement based on their years of service. This provision will sunset effective June 30, 2006, or at such time as the police officers are covered through Public Safety PERS, whichever is earlier, unless the parties specifically extend the provisions in writing. The pay structure would be: • 25% for employees who have a minimum of 10 years of service up to a maximum of $10,000 • 40% for employees who have a minimum of 15 years of service up to a maximum of $10,000 • 50% for employees who have a minimum of 20 years of service up to a maximum of $10,000.