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split equally between the City and the retired employee. Section 30. Life Insurance The City shall maintain in effect employer paid Term Life Insurance in the amount of Twenty Thousand ($20,000) Dollars with an AD&D benefit. The City shall make available for employees, the ability to purchase additional life insurance, at no cost to the City, subject to the 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 40% of basic monthly earnings with a maximum gross monthly benefit of $5,000. The plan shall provide a six month elimination period, benefits payable to age 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. Retirement Plan 32.1 The City's contract with the Public Employees Retirement System provides retirement benefits for the 2% @ 55 retirement formula. Such plan contains an after remarriage post survivor allowance continuance. 32.2 The City shall continue to contract with the Public Employees' Retirement Systems (PERS) to provide the credit for unused sick leave benefit (Section 20862.8). 32.3 The City shall continue to contract with the Public Employees' Retirement System to provide the Military Service Credit as Public Service (Section 21024) benefit option. Section 33. Transfer For the purpose of employee transfers as defined in Personnel Rules, the classifications of Refuse Collector, Street Maintenance Worker, Building 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. 30