Retirement Plan for Safety Members Hired On or After Sample Clauses

Retirement Plan for Safety Members Hired On or After. January 1, 2013, Who Are Not Classic Members Employees hired on or after January 1, 2013 who are new members shall receive the retirement benefit of 2.7% at 57 retirement benefit. For purposes of determining a retirement benefit, final compensation for unit members covered by this Section 19.2.d. shall mean the highest annual average pensionable compensation earned during thirty-six (36) consecutive months of service. As required by Government Code Section 7522.04(g), unit members covered by this Section 19.2.d. shall pay, through payroll deductions, fifty percent (50%) of normal costs of their retirement plan as determined annually by XxxXXXX, plus an additional 1% of PERSable compensation toward the cost of pension benefits as permitted by Government Code Section 20516.
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