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PUBLTC EMPLOYEES PENSiON F'�ND <br />Functions <br />The Public Emplo�ees Retiremant Association is a state <br />agency established to provide pensions for municipal emploqees� Tn <br />1967, the Legislature provided for coordination of this pension plan <br />with the Federal Socia2 Security program (OASHDI)o Municipal emplo�ees, <br />except police, had the opportunitq to choose between a pension plan <br />exclusively administered by P,E,R,A, or a coordinating PeE�RoA, and <br />OoA,S,D,H,I, All new employees, except police, after January 1, 1968, <br />are under the coordinated plan. <br />Employees under a straight P,EaR,A, pension must contribute <br />8% of their gross salary, Those choosing the coordinated plan con- <br />tribute 4% of thefr grass salary to P,EeR,Ao and 5,85% of the £irst <br />$13,200 to OvAaS>DoHeIo <br />The City Government is required to match the employees payw <br />ment toward either plano In the case of the police, the City must <br />pay an additional 4% or a total oi 12% of gross salary, In the case <br />of non-police employees on a straight PeE,R�A, pension, the City pays <br />an additional 2%Z% or a total of 10'z% oi gross salaryo Finally, for <br />employees under the coordinated plan, the City pays an additional lZ% <br />or a total of 5'Z% of gross salarq, <br />This account includes pension contributions for departments <br />under the General Fund� <br />49 ' <br />