Agmt 2016 San Leandro Employees Association

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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 Ca1PERS, for the purpose of computing final compensation. Such contributions shall be reported to Ca1PERS as follows: 33.1 Tier One: Employees hired prior to May 6, 2010, the City shall maintain a contract with Ca1PERS for the provision of a 2.5% @ 55 (highest 12 months)retirement benefit formula. These plans shall contain the following options: Remarriage post-survivor allowance continuance Credit for unused sick leave option Military service credit option Tier One employees shall pay 8% of the employee contribution pursuant to IRS Code Section 414 (h) (2),these payments shall be made on a pre-tax basis. 33.2 Tier Two: For "classic" Ca1PERS members hired on or after May 6, 2010, the City shall maintain a contract with Ca1PERS for the provision of a 2% @ 55 (highest 36 months) retirement benefit formula pursuant to Ca1PERS requirements. Such plan will also contain the three optional benefits listed above. Tier Two employees shall pay 7% of the employee contribution pursuant to IRS Code Section 414 (h) (2),these payments shall be made on a pre-tax basis. 33.3 Tier Three: For employees hired on or after January 1, 2013 and classified as "new" members of Ca1PERS as defined by Public Employees Pension Reform Act (PEPRA), the City shall maintain a contract with Ca1PERS 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. Section 34. Transfer For the purpose of employee transfers as defined in Personnel Rules, the classifications of Street Maintenance Worker, Facilities 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 The City shall provide tool insurance to cover the reasonable value of the hand tools furnished by employees in the Automotive Mechanic and Equipment Mechanic classifications against loss in excess of sixty dollars ($60.00)per occurrence arising from theft or catastrophic damage. It is understood that the City may institute reasonable rules for the purpose of limiting claims under this tool insurance. These rules shall provide for, but not be limited to, tool inventories, audit of tool inventories, restrictions on removal of tools from the automotive shop and requirements for the proper safeguarding of tools by the employees, which includes securement and lock-up of tools at the end of each working period. 29