- 35.2 General Retirement Plans
(1) For those employees who currently have some or all of their service time in the contributory General retirement plan, effective March 2005, the County implemented the firstname.lastname@example.org retirement enhancement (Government Code Section 31676.14) for these employees who retire after that date.
The enhancement will apply to all future general service and all general service back to the date of employment pursuant to the Board of Supervisor’s authority under Government Code section 31678.2 (a). Government Code section 31678.2(b) authorizes the collection, from employees, of all or part of the contributions by a member or employer or both, that would have been required if section 31676.14 had been in effect during the time period specified in the resolution adopting 31676.14, and that the time period specified in the resolution will be all future and past general service back to the date of employment. Based upon this understanding and agreement, employees will share in the cost of 31676.14 enhancements through increased retirement contributions by way of payroll deductions an additional 3% of compensation earnable as defined in SamCERA regulations compensation earnable as defined in SamCERA.
• These contributions will not be reduced by the employer pick-ups.
• These cost sharing contributions will not be reduced for employees with 30-years of service.
• Employees with “mixed” general and safety time shall not contribute in accordance with the schedule set forth above but rather shall contribute in accordance with the schedule set forth in section 34.2.
(2) For those employees who currently have some or all of their service time in the non-contributory retirement plan, also known as Plan 3, and who have five years of service, shall have the opportunity to transfer to the contributory retirement plan, also known as General Plan 2 or General Plan 4 (depending on original date of hire). This change in plans covers future service only. Employees will have a onetime option to make such a transfer and the transfer decision can be made at any point after five years of service. The selection must be made in writing and is irrevocable.
After the transfer, these employees may transfer to Retirement Plan 2 or Plan 4 as determined by SamCERA, all county service rendered under Plan 3, provided that the employee deposits into the retirement fund within a specified time, an amount equal to the contributions he or she would have made during that time and what the County would have made on the employee’s behalf, had the employee been a member of Plan 2 or Plan 4, together with regular interest on that amount as determined by SamCERA.
(3) Those employees who currently have some or all of their service in the General Plan and wish to transfer into and or transfer service credit into a Safety Plan, and were employed on or before March 1, 1991, any such transfer is subject to the provisions of Government Code section 31469.5.