Item 18 - Resolution Amending the Classification and Compensation Plan for Classifications of Unrepresented Executive Management

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D. Paid or unpaid Administrative Leave Policy. The City Manager is authorized to grant, at their discretion, a paid or unpaid leave of absence for Executive Management (EM) employees. E. Payment for Unused Sick Leave. For all Executive Management (EM) employees employed by the City in a full-time position, except in cases of disability retirement, upon non -disciplinary termination of employment: 1. Payment Up to Five (5) Years. Employees with less than five (5) years of cumulative, consecutive service with the City, each qualified employee shall be entitled to payment for fifty percent (50%) of the total accrued sick leave benefit credited into either: 1) their individual Retirement Health Savings (RHS) account, or 2) their individual 457 deferred compensation account, or 3) cash upon the effective date of such termination, not to exceed a maximum limit of six hundred forty (640) hours, at the base rate of pay effective on the date of such termination. 2. Payment After Five (5) Years. After five (5) years of cumulative, consecutive full- time service with the City, each qualified employee shall be entitled to payment for one hundred percent (100%) of the total accrued sick leave benefit credited into either: 1) their individual RHS account, or 2) their individual 457 deferred compensation account, or 3) cash, not to exceed a maximum limit of one thousand six hundred hours (1,600) hours, at the base rate of pay effective on the date of such termination. Section 6. Retirement Plan Contributions. A. The terms of the existing contract between the City and California Public Employees' Retirement System (CaIPERS) governing the City retirement benefits of Executive Management (EM) employees covered by this Resolution are incorporated by reference herein. The City will make contributions to CaIPERS in accordance with its contract with CaIPERS for employees covered by said contract as amended. B. The California Public Employees' Pension Reform Act (PEPRA) went into effect on January 1, 2013. Based on consideration of various eligibility factors, PEPRA defines each employee as either a "classic" or "new" member of CaIPERS. C. 2.7% at 55 Service Retirement Benefit for Classic Miscellaneous Members. The City agrees to provide Executive Management (EM) employees covered by this Resolution, and who are defined as Classic Miscellaneous Members under the California Public Employees' Pension Reform Act (PEPRA) of 2013 (AB340), with the 2.7% at 55 Service Retirement benefit. D. Payment of 2.7% at 55 Service Retirement Benefit. Classic Miscellaneous Executive Management (EM) employees covered by this Resolution will contribute eight percent (8%) of CaIPERS reportable compensation earnable toward the employer cost of the 2.7% at 55 enhanced retirement formula. This payment will be implemented as cost - sharing pursuant to Government Code § 20516(f). Pre -Taxable Benefit. To the extent permitted by CaIPERS and Internal Revenue Service regulations, this eight percent (8%) employee contribution will be implemented through payroll deductions on a pre-tax basis.