Tier 6 definition
Examples of Tier 6 in a sentence
Schedule of Benefits Information Table • Your Co-payment and/or Co-insurance is determined by Prescription Drug Products on the Prescription Drug List placed on Tier 1, Tier 2, Tier 3, Tier 4, Tier 5, or Tier 6.
Tier 5 Tier 6 $150 Copay $250 Copay Select Vaccinations obtained through the Pharmacy Vaccine Network $0 Copay For additional information regarding the applicable Drug List, please call customer service or visit the website at ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇.▇▇▇/member/prescription-drug-plan-information/drug-lists.
Upon such approval, and subject to the process set forth in an implementing ordinance of the Council, each eligible bargaining Unit member will be provided the opportunity to make an informed individual decision whether to transfer into Tier 6 of LAFPP or remain in their current tier of LACERS.
If a ballot measure (projected for the November 2024 election) is approved by a majority vote of the City electorate, the Charter would be amended, and an implementing ordinance would be presented to the Council to allow eligible members to make an informed and irrevocable decision to terminate their LACERS membership and to transfer into LAFPP Tier 6.
The intent is for the City to pay all costs associated with the transfer of employees, including, but not limited to, the cost of all actuarial studies, the full cost of transferring each eligible employee into LAFPP Tier 6 who opts to make that transfer, and the costs associated with the ballot measure election.
In that regard, the City commissioned an actuarial evaluation of transferring all eligible bargaining Unit members who are currently enrolled in the Los Angeles City Employees Retirement System (LACERS) into Tier 6 of the Los Angeles Fire and Police Pension System (LAFPP).
Annual Hours 1,425 Full-Time Hours $700 single $1,850 family Lower Range Upper Range % of Total Cost of Medical, vision, drug and dental to be paid by Board Tier 1 1,365 1,424 92% Tier 2 1,274 1,364 88% Tier 3 1,176 1,273 81% Tier 4 1,079 1,175 74% Tier 5 980 1,078 66% Tier 6 731 979 50% 4.
Annual Hours 1,425 Lower Range Upper Range % of Total Cost of Medical, vision, drug and dental to be paid by Board Tier 1 1,365 1,424 89% Tier 2 1,274 1,364 88% Tier 3 1,176 1,273 81% Tier 4 1,079 1,175 74% Tier 5 980 1,078 66% Tier 6 731 979 50% 4.
Employees in Tier 6, and in subsequent Tiers and employees hired after July 1, 2014 shall contribute to the cost of the pension consistent with the applicable provisions in the New York State Retirement and Social Security Law.
Pursuant to Charter Section 1700(f) and LAAC section 4.2215, any Unit member appointed to City service prior to January 7, 2018, who elected to transfer from the Los Angeles City Employees’ Retirement System (LACERS), shall be a member of LAFPP Tier 6.