Fire Safety Employee definition
Fire Safety Employee retirement plan elements are set by the existing contract between CITY and PERS; and are generally described as follows:
Fire Safety Employee retirement plan benefits to all eligible employees. PERS classic employees who are not subject to the Public Employee’s Pension Reform Act (“PEPRA”) will receive the three percent (3%) at age fifty-five (55) formula. Classic employees will pay the entire nine percent (9%) employee contribution. In addition, effective January 1, 2019, classic members will pay an additional three percent (3%) of the employer share as cost sharing under Government Code section 20516(f) for a total employee contribution of twelve percent (12%). Employees who are defined as “new members” under PEPRA will receive the two and seven-tenths percent (2.7%) at age fifty-seven (57) formula. New members will contribute fifty percent (50%) of the total normal cost of the retirement benefit, as determined by PERS.
Fire Safety Employee retirement plan benefits to all eligible employees, and shall pay the employer's contribution only. Current City employees shall pay one hundred percent (100%) of the employee’s contribution/share required to participate in PERS. The City shall implement the three percent (3%) at age fifty-five (55) plan for current employees only, if authorized by law and PERS. The existing PERS "Fire Safety Employee" retirement plan elements are set by the existing contract between CITY and PERS; and are generally described as follows:
Examples of Fire Safety Employee in a sentence
CITY shall provide access to Public Employee Retirement System ("PERS") "Fire Safety Employee" retirement plan benefits to all eligible employees.