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Section 33. Retirement Plan <br />33.1 The City's contract with the Public Employees Retirement System provides retirement benefits <br />for the 2.5% @ 55 retirement formula. Such plan contains, an after remarriage post survivor <br />allowance continuance. <br />33.2 The City shall continue to contract with the Public Employees' Retirement Systems to provide <br />the credit for unused sick leave benefit (Section 20862.8). <br />33.3 The City shall continue to contract with the Public Employees' Retirement System to provide <br />the Military Service Credit as Public Service (Section 21024) benefit option. <br />33.4 Effective January 1, 2006, the City shall contribute to the Public Employees' Retirement System <br />(PERS) each pay period a portion of a new employee's contribution rate as established by law <br />according to the following schedule: year 1 - 2%; year 2 - 4%; year 3 - 6%. Thereafter, the <br />Employer Paid Member Contribution (EPMC) shall be equal to eight percent (8%) of the <br />employee's "compensation" as that term is administered by the Board of Administration of <br />PERS. Prior CaIPERS service time will be credited to new employees to reduce the <br />contribution rates specified above. <br />Section 34. Transfer <br />For the purpose of employee transfers as defined in Personnel Rules, the classifications of <br />Refuse Collector, Street Maintenance Worker, Building Maintenance Worker and Park <br />Maintenance Worker shall be interpreted as comparable classifications. An employee so <br />transferred shall be paid in accordance with classification to which such employee is <br />transferred. <br />Section 35. Tools -Equipment Section <br />The City shall provide tool insurance to cover the reasonable value of the hand tools fiirnished <br />by employees in the Automotive Mechanic and Equipment Mechanic classifications against <br />loss in excess of sixty dollars ($60.00) per occurrence arising from theft or catastrophic damage. <br />It is understood that the City may institute reasonable rules for the purpose of limiting claims <br />under this tool insurance. <br />These rules shall provide for, but not be limited to, tool inventories, audit of tool inventories, <br />restrictions on removal of tools from the automotive shop and requirements for the proper <br />safeguarding of tools by the employees, which includes securement and lock-up of tools at the <br />end of each working period. <br />For the period of this Memorandum of Understanding, employees regularly assigned to the <br />Public Works Equipment Section, who are required to provide and use their own tools shall be <br />reimbursed by the City for broken, worn out, and/or technologically obsolete tools, to a <br />maximum of three hundred and fifty-five ($355.00) per fiscal year. Such reimbursement shall <br />be paid once each fiscal year only upon submission of acceptable justification and receipts to <br />the Public Works Services Director. <br />26 <br />