Agmt 2014 San Leandro City Employees Association SLCEA

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requirements and rules of the insurance carrier. Such premium payments made by the employee purchasing any voluntary life insurance shall be made on an after tax basis. Section 31. Long Term Disability Insurance The City shall maintain in effect an employer paid long term disability insurance program with a benefit percentage of forty percent (40%) of base monthly earnings with a maximum gross 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 term 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 - Three-tier System The City shall. for full-time and qualifying part-time management staff, contribute to the California Public Employees' Retirement System (CaIPERS) each pay period a portion of the employees' contribution rate as established by law, equal to that percentage of the employees' "compensation" as that term is administered by the Board of Administration of CaIPERS, for the purpose of computing final compensation. Such contributions shall be reported to CaIPERS as follows: 33.1 Tier One: Employees hired prior to May 6, 2010, the City shall maintain a contract with CaIPERS for the provision of a 2.5% @ 55 (highest 12 months) retirement benefit formula. The City shall contribute eight percent (8%) of the employees' compensation to CaIPERS on behalf of these employees. These plans shall contain the following options: Remarriage post-survivor allowance continuance Credit for unused sick leave option Military service credit option Effective October 1. 2013, tier one employees shall commence paying 3% of the employee contribution and the City shall contribute 5%. Effective July I, 2014, employees shall commence paying 6% of the employee contribution and the City shall contribute 2%. Effective July 1, 2015, employees shall commence paying 8% of the employee contribution and the City shall contribute 0%. Pursuant to IRS Code Section 414 (h) (2), these payments shall be made on a pre-tax basis. 33.2 Tier Two: For "classic" CaIPERS members hired on or after May 6, 2010, the City shall maintain a contract with CaIPERS for the provision of a 2% @ 55 (highest 36 months) retirement benefit formula pursuant to CaIPERS requirements. The City shall contribute seven 26