Laserfiche WebLink
<br />section applies to members whose effective date of retirement is within four (4) months of <br />separation from employment. <br /> <br />12.5 Militarv Service Credit as Public Service. Effective January I, 2002, or as soon as <br />practicable thereafter, an employee covered by this Agreement may elect to purchase up to <br />four (4) years of service credit for any continuous active military or merchant marine service <br />prior to employment. The employee must contribute an amount equal to the contribution for <br />current and prior service that the employee and the employer would have made with respect <br />to that period of service. <br /> <br />12.6 Retirement Reopener. Notwithstanding the provISIons of Article XXIV, Waiver of <br />Bargaining During the Term of this Agreement, the City and Union may reopen Article XII <br />Retirement, for the purpose of negotiating any new Retirement Formula for Local <br />Miscellaneous Members that currently is available to contracting agencies. <br /> <br />The Citv and Union agree to meet and commence discussions vertaininf! to an enhanced <br />retirement formula no later than ten davs alier receivinf! the actuarial revort from CalP ERS <br />on the cost of vrovidinf! such formula. The vartv reauestinf! the meeting will be resvonsible <br />for vaving CalPERS for the cost of the actuarial revort. <br /> <br />If negotiations on a new Formula for Local Miscellaneous Members is successfully <br />completed, the City will proceed to amend its contract with the California Public Employees <br />Retirement System (CalPERS) as soon as practicable. <br /> <br />53 <br />