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Human Resources HOME // COMPENSATION & BENEFITS: Retirement Information
Human Resources HOME // COMPENSATION & BENEFITS: Retirement Information
The City contracts with the California Public Employees’ Retirement System. The benefit levels are as follows:
CalPERS Retirement Formula’s |
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|
General Services (PCEA) |
General Services (PCEA) |
Mid Mgmt/Conf |
Police Sworn (PPOA) |
Police Mgrs (PPMA) |
Executive Mgmt |
Unrepresented, |
|
Hired prior to August 14, 2011 |
Hired prior to August 14, 2011 |
Hired prior to August 14, 2011 |
Hired prior to November 18, 2010 |
Hired prior to July 1, 2010 |
Hired prior to August 14, 2011 |
Hired prior to August 14, 2011 |
|
Local Miscellaneous 2%@55 |
Local Miscellaneous 2%@55 |
Local Miscellaneous 2%@55 |
Local Safety 3%@50 |
Local Safety 3%@50 |
Local Miscellaneous 2%@55 |
Local Miscellaneous 2%@55 |
|
Hired on or after August 14, 2011 |
Hired on or after August 14, 2011 |
Hired on or after August 14, 2011 |
Hired on or after November 19, 2010 |
Hired on or after November 19, 2010 |
Hired on or after August 14, 2011 |
Hired on or after August 14, 2011 |
|
Local Miscellaneous |
Local Miscellaneous |
Local Miscellaneous |
Local Safety 3%@55 |
Local Safety 3%@55 |
Local Miscellaneous |
Local Miscellaneous |
FAS 3= Final Average 3 Year Salary
FAS 1= Final Average 1 Year Salary
Member (Employee) Contribution Amounts |
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|
General Services |
General Services |
Mid Mgmt/Conf |
Police Sworn (PPOA) |
Police Mgrs (PPMA) |
Executive |
Unrepresented, Mid Management, Library C-2 |
|
City Pays 0% |
Hired prior to August 14, 2011 |
City Pays 0% |
Hired prior to September 12, 2011 |
Hired prior to July 1, 2011 |
City Pays 0% |
Hired prior to July 31, 2011 |
|
|
City Pays 7% |
|
City Pays 9% |
City Pays 9% |
|
City Pays 4% |
|
Hired after August 14, 2011 |
Hired on or after September 12, 2011 |
Hired after July 1, 2011 |
Hired after July 31, 2011 |
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|
City Pays 0% |
City Pays 0% |
City Pays 0% |
City Pays 0% |
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Employer’s Contribution
The City also pays the Employer’s Contribution at a rate subject to change annually. With the exception of Police Sworn employees (PPOA) hired prior to August 1, 2010 who pay 1% of the Employer’s contribution, and Police Managers’ Association (PPMA) hired prior to July 1, 2011 who pay 9% of the Employer’s contribution.
As a CalPERS member you will receive an annual statement from CalPERS mailed to your home during the month of November. The statement covers the period of July 1 through June 30.
The City pays a portion of your health insurance upon retirement. Rates are subject to change annually.