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PUBLIC EMPLOYEES PIIVSION FUND <br />Functions <br />The Public Employees Retirement Association is a state <br />agency established to provide pensions fnr municipal employees. In <br />1967, the Legislature provided for coordination af this pension plan <br />with the Federal Social Security program (OASHDI), Nhmicipal employees, <br />except police, had the opporttaiity to choose be�ween a pension plan <br />exclusively administered by P.E.R.Ao or a coordinat�ng P.E,R.A. and <br />O.A.S.D.H.I. All new employees, exeep't police, after January l, 1968, <br />are under the coordinated plan. <br />Employees under a straight P.E.RoA. pension must contribute <br />80 of their gross salary. Those choosing �he coordinated plan contribute <br />4% of their gross salary to P.E.R.A. and 5a85% of the first $12,600 to <br />O.A.S.D.H.I. <br />The City Government is required to match the employees <br />payment toward either plan. In the case of the police, the City must <br />pay an additional 40 or a total of 12% of gress salary. In the case <br />of non-police employees on a straight P.E.ReA, pension, the City pays <br />an additional 2�a or a total of lOzo oi gross salary. Finally, for <br />employees under the coordinated plan the City pays an additional lzo <br />or a total of 5z% of gross salary. <br />This account includes pension contributions for departments <br />under the General Fund. <br />50 <br />