34.1 Safety Retirement Plans
(1) For those employees hired before July 13, 1997, and who moved from the General to Safety Retirement Plan the Safety Retirement schedule of benefits shall be based on the employee’s single highest year salary and they shall have the maximum COLA capped at 3% per year.
(2) For those employees hired into covered classifications after July 13, 1997, they shall be placed in the Safety Retirement Plan, their retirement schedule of benefits shall be based on the employee’s average salary of the highest 36 consecutive months rather than single highest year and their Plan 2 COLA will be capped at 2% rather than 3%.
(3) It is expressly understood that safety membership in the retirement plan has been agreed upon on the condition that Social Security benefits need not be paid by the County on behalf of the employees.
In the event that federal or decisional law shall mandate the granting to employees of benefits under the Social Security Act which duplicate, supplement, or otherwise impinge upon retirement benefits or other terms and conditions of employment set forth herein, the parties hereto shall meet and confer with regard to such benefit or other term and condition of employment, as soon as feasible, in order to assure that the federal or decisional mandate does not result in an overall increase of benefits to employees which would result in an overall increase in cost to the County.