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<br /> <br />medical insurance plans. The contribution toward retiree insurance will continue, however, <br />until the employees 65th birthday. <br /> <br />29.5 The City shall contribute a maximum of seventy dollars and eighty-seven cents ($70.87) toward <br />the monthly dental plan cost for each eligible retired City employee who was assigned to a <br />classification represented by the San Leandro City Employees Union, and who is currently a <br />member of the City's dental plan, or who was a member of the City's dental plan and retired on <br />or after January 1, 1987. Any increases in dental plan costs during the term of this Agreement <br />shall be split equally between the City and the retired employee. Coverage under this section <br />shall continue until the employees 65th birthday; except for the PERS Medical Plan “employer <br />minimum share” retiree health contribution, which shall continue for life. <br /> <br />Section 30. Life Insurance <br /> <br /> The City shall maintain in effect employer paid Term Life Insurance with an AD&D benefit in <br />the amount of fifty thousand dollars ($50,000.00). The City shall make available for <br />employees, the ability to purchase additional life insurance, at no cost to the City, subject to the <br />requirements and rules of the insurance carrier. Such premium payments made by the <br />employee purchasing any voluntary life insurance shall be made on an after tax basis. <br /> <br />Section 31. Long Term Disability Insurance <br /> <br /> The City shall maintain in effect an employer paid long term disability insurance program with <br />a benefit percentage of forty percent (40%) of base monthly earnings with a maximum gross <br />monthly benefit of five thousand dollars ($5,000.00). The plan shall provide a six (6) month <br />elimination period, benefits payable to age sixty-five (65) with two years “own” occupation and <br />partial disability benefits. The City shall make available for employees, the ability to purchase <br />additional long term disability insurance, at no cost to the City, subject to the rules, regulations, <br />enrollment requirements and exclusions set forth by the insurance carrier. <br /> <br />Section 32. Short Term Disability Insurance <br /> <br />The City shall make available for employees, the ability to purchase voluntary short-term <br />disability insurance, at no cost to the City, subject to the rules, regulations, enrollment <br />requirements and exclusions set forth by the insurance carrier. Such premium payments made <br />by the employee purchasing any voluntary short-term disability insurance shall be made on an <br />after-tax basis. <br /> <br />Section 33. Retirement Plan - Three-tier System <br /> <br />The City shall, for full-time and qualifying part-time management staff, contribute to the California <br />Public Employees' Retirement System (CalPERS) each pay period a portion of the employees’ <br />contribution rate as established by law, equal to that percentage of the employees’ "compensation" as <br />that term is administered by the Board of Administration of CalPERS, for the purpose of computing <br />final compensation. Such contributions shall be reported to CalPERS as follows: <br /> <br />33.1 Tier One: Employees hired prior to May 6, 2010, the City shall maintain a contract with <br />CalPERS for the provision of a 2.5% @ 55 (highest 12 months) retirement benefit formula. <br /> <br />These plans shall contain the following options: <br /> <br />28