HomeMy WebLinkAboutBenefit Summary - Department HeadLast Revised 1/4/2021
Department Heads
Resolution July 1st, 2018 – June 30th, 2021
Cost of Living
Adjustment
8/30/18 1%
7/1/19 2%
7/1/20 2%
PERS Retirement:
1st Tier Employees)
Employees hired prior to 12/06/12 and employees that previously worked for the City of San
Luis Obispo as a CalPERS member.
2.7% @ 55, one-year final compensation (Non-Sworn)
3% @ 50, one-year final compensation (Police & Fire Sworn)
PERS Retirement:
2nd Tier Employees)
Employees hired between 12/06/12 and 12/31/12 or an employee who comes from another
CalPERS Agency, or an agency with reciprocity with CalPERS and has no break in service
longer than 6 months.
2% @ 60, three-year final compensation (Non-Sworn)
2% @ 50, three-year final compensation (Police Sworn)
3% @ 55, three-year final compensation (Fire Sworn)
PERS Retirement:
3rd Tier Employees)
Employees hired on or after 01/01/13, referred to as a “New Member.” A New Member is an
employee who has never worked for a CalPERS Agency (or an agency with reciprocity with
CalPERS), or who has worked for a CalPERS Agency but had a break in service longer than
6 months.
2% @ 62, three-year final compensation
2.7% @ 57, three-year final compensation (Sworn)
PERS Retirement
Member Contribution
1st Tier: Non-Sworn: 8 % pre-tax / Sworn: 9% pre-tax + 3% pre-tax cost sharing
2nd Tier: Non-Sworn: 7% pre-tax / Sworn: 9% pre-tax+ 3% pre-tax cost sharing
3rd Tier: 50% pre-tax (Currently 7% for Non-sworn and 13.75% for Sworn + 3% pre-tax cost
sharing)
Retirement, cont. Level 4 1959 Survivor; military service credit; Pre- Retirement Option 2 Death Benefit;
conversion of unused sick leave to service credit
Family Leave: 6 days (48 hours) 7 days (56 hours) if family member is a part of the household and is hospitalized.
LTD Insurance: Group Plan, 66 2/3% of salary up to $11,250 (max benefit $7,500) per month; 30 day waiting period
Section 125 Flexible
Spending Accounts:
Up to $2,750 annually for unreimbursed medical expenses; up to $5,000 for dependent care expenses.
Cafeteria Plan
Monthly Contribution:
2021 Rates)
Opt Outs: $200
Emp Only: $593
Emp +1: $1,173
Emp +2: $1,588
Grandfathered”: $790
50%/50% cost sharing
Vacation: Annual Accrual: 0-5 years 120 hours
6-10 years 120 hours
11-20 years 144 hours
21+ years 160 hours
Maximum Accrual: 2 times annual
Cash Out: 40 hours once annually in
December or if maxed out and
requested by the employee
Uniform Allowance: Police Chief and Fire Chief
1000 annually
Supplemental
Retirement
401(a)]:
City contributes 1% of salary; Mandatory
Employee contribution between 0-14%
Dental Insurance: Delta Dental / DPO,
Delta Care PMI / HMO
Car Allowance: Police and Fire Chiefs assigned
cars; all others $236 per month
Sick Leave: Accrue 8 hours per month;
no maximum
Admin Leave: 80 hours the first full pay period in January
Health Insurance: CalPERS Plans Bilingual Pay: No
Holiday: 13 days