Common use of Tier 2 Clause in Contracts

Tier 2. The City shall maintain California Public Employees’ Retirement System (CalPERS) benefits for Unit employees who are deemed to be “classic members” and who are employed with the City in a miscellaneous classification after March 2, 2012, and prior to January 1, 2013. The CalPERS benefit shall be based upon the 2% @ 60 retirement benefit formula, calculated using the three year average final compensation period (Govt. Code 20037).

Tier 2. The City shall maintain California Public Employees’ Retirement System (CalPERS) benefits for Unit employees who are deemed to be “classic members” and who are employed with the City in a miscellaneous classification after March 2, 2012, and prior to January 1, 2013. The 2013.The CalPERS benefit shall be based upon the 2% @ 60 retirement benefit formula, calculated using the three year average final compensation period (Govt. Code 20037).

Tier 2. The City shall maintain California Public Employees’ Retirement System (CalPERS) benefits for Unit employees who are deemed to be “classic members” and who are employed with hired by the City in a miscellaneous classification after March 2, 2012, and prior to January 1, 2013. The CalPERS benefit shall be based upon the 2% @ 60 retirement benefit formula, calculated using the three year average final compensation period (Govt. Code 20037).