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<br />For the purpose of reporting an employee's compensation to CalPERS, the City shall <br />include these payments as if they were a part of the employee's base salary. <br /> <br />13.7 RetiremeAt Reel'lefler. Effeetive fer Jl:Ily 1, ;WQe, tRe City aAs AsseeiatieA <br />a~pce fa rceJ3sA P.rtic:le XIII l:letireme.At I fer tho fjl:JPl3asc af cliscl::lssiA~ the <br />fe.asibility af SA CAAatu:ca pctircme.At fsrml;fla fer Leeal 1),iscellsAc8I:Js <br />,A.4,embcps. ft.aaitieAslly, at the same time, the. Cit'l SAd l.ssaeiatiEH~ agree fa <br />rcsl3eA this l'.grcel'f\eAt fer the J3l:1PJ3esc af diseI:J5siAg the feasibilit)' af <br />I3psviaiAfj "safe-t.,. pctircmcAt" fa DctCAtisA Officers, SeAiar DctOAtisA <br />Offiecrs, BAd DeteAtisA Sl=JJ3crvisers. <br /> <br />13.7 (new) 2.7'0 at 55 Service Retirement Benefit for Miscellaneous Members. <br />The City agrees to amend its retirement contract with CalPERS to provide <br />Miscellaneous employees covered by this Agreement with the 2.7% at 55 <br />Service Retirement benefit to be effective January 1, 2009. Pursuant to <br />CalPERS regulations, this new formula will apply to employees that are in <br />active status on the date this amendment takes effect. This new formula will <br />apply to each year of eligible service credited with the City of Santa Ana. <br /> <br />Payment of New 2.7% at 55 Service Retirement Benefit. Miscellaneous <br />employees covered by this Agreement agree to pay 6.3'0 of CalPERS <br />reportable compensation toward the cost of the 2.7'0 at 55 enhanced <br />retirement formula in the following manner: <br /> <br />1. Effective July 1, 2007, the City shall deduct from each employee <br />covered by this Agreement two percent (2'0) of CalPERS reportable <br />compensation to pay toward the cost of the new enhanced retirement <br />formula. <br /> <br />2. Effective July 1, 2008, the City shall deduct from each employee <br />covered by this Agreement an additional two percent (2'0) of CalPERS <br />reportable compensation (4'0 total) to pay toward the cost of the new <br />enhanced retirement formula. <br /> <br />3. Effective July 1, 2009, the City shall deduct from each employee <br />covered by this Agreement an additional two point three percent (2.3%) <br />of CalPERS reportable compensation (6.3% total) to pay toward the <br />cost of the new enhanced retirement formula. <br />