Common use of Tier II Clause in Contracts

Tier II. For employees hired on and after to July 1, 2011, shall be eligible for the 3% @ 55 retirement formula for Local Safety members. The City pays 9% on behalf of the employee share and the unit member pays 9% toward the CalPERS “employer” share, on a “cost sharing” basis, at the same percentage and at the same starting date as the City’s contributions “toward the employee share.” The employee contribution is “compensation earnable” as defined in Government Code section 20636. The City shall continue the highest level of the 1959 survivor benefit.

Tier II. For employees Unit members hired on and after to July January 1, 20112011 and before January 1, 2013, shall be eligible for the 3% @ 55 retirement formula for Local Safety members. The City pays 9% on behalf of the “employee contribution” share of CalPERS and the unit member pays 9% toward the CalPERS “employeremployer contribution” share, share on a “cost sharing” sharing basis, at the same percentage and at the same starting date as the City’s contributions “toward the employee contribution share.” The employee contribution share is “compensation earnable” as defined in Government Code section Section 20636. The City shall continue the highest level of the 1959 survivor benefit.