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31 Local 21/SLCEA Memorandum of Understanding January 1, 2022 – December 31, 2024 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. 34.2 Tier Two: For “classic” CalPERS members hired on or after May 6, 2010, the City shall maintain a contract with CalPERS for the provision of a 2% @ 55 (highest 36 months) retirement benefit formula pursuant to CalPERS 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. 34.3 Tier Three: For employees hired on or after January 1, 2013 and classified as “new” members of CalPERS as defined by Public Employees Pension Reform Act (PEPRA), the City shall maintain a contract with CalPERS 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 35. Deferred Compensation Plan The City shall maintain in effect the IRS § 457 deferred compensation plan as described in the San Leandro Administrative Code. Participation in the City's deferred compensation plan shall be voluntary and shall be available to full-time and part-time employees. For full-time and permanent part-time employees only, the City will match an employee’s contribution to the deferred compensation plan each pay period up to a maximum of two percent (2%) of an employee’s base pay. Section 36. 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 37. 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, Equipment Mechanic, and Fleet Supervisor classifications against loss in excess of sixty dollars ($60.00) per occurrence