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SLPMA 20 - 22 9 <br /> <br />Section 10.0 Retirement– Two-tier System <br /> <br />The City shall continue to contract with the California Public Employees’ Retirement System <br />(CalPERS) to provide retirement benefit programs for the term of this Memorandum of <br />Understanding. <br /> <br />10.1 Tier One: For employees hired by the City into the Association prior to January 1, <br />2013, or for “classic” members of CalPERS hired after January 1, 2013, the City’s <br />contract with CalPERS provides the 3% @ age 50 retirement formula, fourth level 1959 <br />Survivors Benefit and the Military Service credit, with 12 months highest final <br />compensation. <br /> <br /> Tier one employees shall pay 9% of the employee contribution Pursuant to IRS Code <br />Section 414 (h) (2), these payments shall be made on a pre-tax basis. <br /> <br />10.2 Tier Two: For employees hired on or after January 1, 2013 and classified as “new” <br />members of CalPERS as defined by Public Employees Pension Reform Act (PEPRA), <br />the City shall maintain a contract with CalPERS for the provision of a 2.7% @ 57 <br />(highest 36 months) retirement benefit formula. Also pursuant to PEPRA, these <br />employees are responsible for paying one-half of the normal cost of this retirement <br />plan. <br /> <br />Section 11.0 Compensation <br /> <br />Salary for each classification varies from step 1 to step 5 as shown in the salary schedules <br />attached as Appendix A of this agreement. New hires and promotions may be placed at the <br />step closest to a minimum five percent (5%) base salary increase, or any step, subject to <br />the City Manager’s final approval. Employees may be advanced from their current step to <br />the next higher step after each year of satisfactory performance. <br /> <br />The salary schedules reflect wage adjustments as follows: <br /> <br />A three (3%) percent across the salary schedule adjustment effective January 1, 2020. <br /> <br />A three (3%) percent across the salary schedule adjustment effective January 1, 2021. <br /> <br />A three (3%) percent across the salary schedule adjustment effective January 1, 2022. <br /> <br />11.1 Application of Pay Rates <br /> <br />A. Pay for Employees in an “Acting” Capacity <br /> <br />Employees may be assigned to perform the duties of a permanent position in <br />a higher classification on a temporary basis. Such assignments shall be <br />termed "acting assignments" and shall be made subject to the following <br />conditions: <br /> <br />32