8H Consent 2010 1220 - Laserfiche WebLink

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monthly benefit of five thousand dollars ($5,000.00). The plan shall provide a six (6) month elimination period, benefits payable to age sixty -five (65) with two years `own" occupation and partial disability benefits. The City shall make available for employees, the ability to purchase additional long tern disability insurance, at no cost to the City, subject to the rules, regulations, enrollment requirements and exclusions set forth by the insurance carrier. Section 32. Short Term Disability Insurance The City shall make available for employees, the ability to purchase voluntary short -term disability insurance, at no cost to the City, subject to the rules, regulations, enrollment requirements and exclusions set forth by the insurance carrier. Such premium payments made by the employee purchasing any voluntary short-term disability insurance shall be made on an after -tax basis. Section 33. Retirement Plan 33.1 The City's contract with the Public Employees Retirement System provides retirement benefits for the 2.5% @ 55 retirement formula. Such plan contains an after remarriage post survivor • allowance continuance. Two -tier system: The CaIPERS Retirement Plan will bewas amended effective Mav 6. 2010 to provide the 2% a 55 (highest 36 months) retirement formula to new employees hired following City Council approval of the CaIPERS contract amendment and pursuant to CaIPERS requirements. Such plan will contain an after - remarriage post - survivor allowance continuance benefit. 33.2 The City shall continue to contract with the Public Employees' Retirement Systems to provide the credit for unused sick leave benefit (Section 20862.8). 33.3 The City shall continue to contract with the Public Employees' Retirement System to provide the Military Service Credit as Public Service (Section 21024) benefit option. 33.4 Effective January 1, 2006, the City shall contribute to the Public Employees' Retirement System (PERS) each pay period a portion of a new employee's contribution rate as established by law according to the following schedule: year 1 — 2 %; year 2 — 4 %; year 3 — 6 %. Thereafter, the Employer Paid Member Contribution (EPMC) shall be equal to eight percent (8 %) of the employee's "compensation" as that term is administered by the Board of Administration of PERS. Prior CaIPERS service time will be credited to new employees to reduce the contribution rates specified above. Section 34. Transfer For the purpose of employee transfers as defined in Personnel Rules, the classifications of Refuse Collector, Street Maintenance Worker, Building Maintenance Worker and Park Maintenance Worker shall be interpreted as comparable classifications. An employee so transferred shall be paid in accordance with classification to which such employee is transferred. Section 35. Tools - Equipment Section 26