Pension Benefit (for employees hired on or after July 13, 1997)
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MANAGEMENT – GENERAL PLAN
- General Members if hired before August 7, 2011:
- Eligible for Plan 4 - 2%@55.5
- Employee’s cost in Plan 4 is a % based on age at time of hire with the County or with a qualified reciprocal system.
- General Members if hired between August 7, 2011 and December 31, 2012:
- Eligible for Plan 5 (pre‐enhancement tier) with no 3% cost share
- Employee’s cost in Plan 5 is a % based on age at time of hire with the County or with a qualified reciprocal system.
- General Member if hired on or after January 1, 2013:
- Eligible for Plan 7 – 2%@62
- Employee’s cost in Plan 7 is a flat rate.
- Employees starting on or after January 1, 2013 who are establishing reciprocity may be eligible for Plan 5.
- Eligible to retire in Plan 4 or Plan 5 at age 50 with a minimum of 10 years of service including a minimum of 5 years of service credit for full time employees or 30 years of service. If age 70, employees can receive a benefit regardless of years of service. Permanent part time employees must meet the same time requirements but must be at least 55 years old.
- Eligible to retire in Plan 7 at age 52 with a minimum of 5 years of service credit.
- Lifetime monthly pension benefit for Plan 4 and 5 are based on # of years of service credit, final average monthly compensation (average of highest 3 one year periods), and a factor for age at retirement.
- Lifetime monthly pension benefit for Plan 7 is based on # of years of service credit, final average monthly compensation (average of highest 36 consecutive months), and a factor for age at retirement.
- There are no County pick-ups of employee retirement contributions.
- Employees in General Plan 4 pay 3% additional cost share. Employees in Plan 5 or Plan 7 do not pay this additional cost share.
- Employees pay 50% of COLA cost.
MANAGEMENT – SAFETY & PROBATION PLAN
- Safety Members if hired before January 8, 2012 and Probation Members if hired before July 10, 2011:
- Eligible for Plan 4 - 3%@50
- Employee’s cost in Plan 4 is a % based on age at time of hire with the County or with a qualified reciprocal system.
- Safety Members if hired on or after January 8, 2012 and before January 1, 2013 and Probation Members if hired on or after July 10, 2011 and before January 1, 2013:
- Eligible for Plan 5 – 3%@55 or Plan 6 – 2%@50
- Employee’s cost in Plan 5 or Plan 6 is a % based on age at time of hire with the County or with a qualified reciprocal system.
- Safety & Probation Member if hired on or after January 1, 2013:
- Eligible for Plan 7 – 2.7%@57
- Employee’s cost in Plan 7 is a flat rate.
- Employees starting on or after January 1, 2013 who are establishing reciprocity may be eligible for Plan 5 or Plan 6.
- Eligible to retire in Plan 4 or Plan 5 or Plan 6 at age 50 with a minimum of 10 years of service including a minimum of 5 years of service credit for full time employees or 20 years of service. If age 70, employees can receive a benefit regardless of years of service. Permanent part time employees must meet the same time requirements but must be at least 55 years old.
- Eligible to retire in Plan 7 at age 50 with a minimum of 5 years of service credit.
Lifetime monthly pension benefit for Plan 4, 5 and 6 are based on # of years of service credit, final average monthly compensation (average of highest 3 one year periods), and a factor for age at retirement.
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Lifetime monthly pension benefit for Plan 7 is based on # of years of service credit, final average monthly compensation (average of highest 36 consecutive months), and a factor for age at retirement.
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There are no County pick-ups of employee retirement contributions.
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Employees in Safety Plan 4 and Plan 5 pay 5% additional cost share while Probation Safety pay 3.5. Employees in Plan 6 or Plan 7 do not pay this additional cost share.
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Employees pay 50% of COLA cost.
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