The District provides a Retirement Program for all regular employees working half-time or more. The Retirement Program may be provided through a contract with the California Public Employees Retirement System, as is currently provided and may be integrated with the Federal Social Security Program, as is currently provided. The District shall provide the CalPERS 3% @ 60 retirement plan for covered employees hired prior to October 1, 2012, including single highest year computation and credit for unused sick leave. The District shall provide the CalPERS 2% @ 60 retirement plan for covered employees hired on or after October 1, 2012, up through December 31, 2012, including the 36 highest consecutive months’ final compensation provision. All covered employees hired on or after January 1, 2013, who are defined as “new members” under PEPRA will be covered by the 2% @ 62 retirement plan and the 36 highest consecutive months’ final compensation provision.

All employees shall pay 100% of the CalPERS employee contribution. Employees receiving the 3% @ 60 retirement plan currently pay the entire 8% employee contribution, and employees receiving the 2% @ 60 retirement plan currently pay the entire 7% employee contribution, as determined by statute and CalPERS. All covered employees hired on or after January 1, 2013, who are defined as “new members” under PEPRA will pay 50% of the total normal cost of the retirement benefit, as determined by CalPERS.