Tier Three. For employees hired on or after January 1, 2013 and classified as “new” members of CalPERS as defined by Public Employees Pension Reform Act (PEPRA), the City shall maintain a contract with CalPERS for the provision of a 2% @ 62 (highest 36 months) retirement benefit formula. Also pursuant to PEPRA, these employees and the City are each responsible for paying one-half of the normal cost of this retirement plan.
Tier Three. CalPERS Retirement Formula for “New Members” as Defined Under the Public Employees’ Pension Reform Act of 2013 (PEPRA): “New Members” as defined by XXXXX who are hired by the City on or after January 1, 2013 shall be entitled to the retirement formula set forth in PEPRA 23 6.1.3.1 2.0% at 62 Retirement Plan 23 6.1.3.2 PERS Contribution 23
Tier Three. Ocean lifeguard safety employees in the bargaining unit hired on or after January 1, 2013 who do not qualify for TIER ONE or TWO, as determined by PERS, will be enrolled in Tier Three PERS retirement plan benefit formula as defined by California Public Employees’ Pension Reform Act of 2013 (PEPRA – AB 340). The Tier Three PERS Safety retirement plan benefit formula of 2.7% at age 57 pursuant to Government Code Section 7522.25 with final compensation to be calculated on the basis of the employee’s compensation for any consecutive thirty-six (36) months of employment.
Tier Three. Miscellaneous employees in the bargaining unit hired on or after January 1, 2013 who do not qualify for TIER ONE or TWO as determined by PERS will be enrolled in Tier Three PERS retirement plan benefit formula as defined by California Public Employees’ Pension Reform Act of 2013 (PEPRA – AB 340): • 2.0% for each year of service at age 62. • Final compensation to be calculated on the basis of the employee’s pensionable compensation for any thirty-six (36) months of employment. • 1959 Level III Survivor benefits.
Tier Three. Under the third tier, the Plan Administrator will allocate the Employer Contributions for a Plan Year in the same ratio that each Participant's Compensation plus Excess Compensation for the Plan Year bears to the total Compensation plus Excess Compensation of all Participants for the Plan Year. The allocation under this third tier, as a percentage of each Participant's Compensation plus Excess Compensation, must not exceed the applicable percentage (2.7%, 2.4%, or 1.3%) listed under Section 3.04(B)(2)(c).
Tier Three. Unit Members Hired On or After January 1, 2013.39 6.1.3.1 2% at 62 Retirement Plan 39 6.1.3.2 PERS Contribution 39
Tier Three. The Third-Tier land uses consist primarily of three-story SFD homes which will be aligned inside and overlook the two-story First-Tier homes located at the southern perimeter of the residential development. The principal living space of the Third-Tier three-story SFD homes will be located on the second and third floors and these homes will have optional roof decks to optimize access to views and light. Most of these three-story homes will have partial views of the Bay over the two-story homes that line the residential neighborhood’s southern perimeter.
Tier Three. Injunctive Relief: Xxxx agrees to adopt and implement at least the following data security measures for a period of at least five years following final approval of the Settlement, which Xxxx shall perform separate and apart from the Tier One and Tier Two Relief:
Tier Three
