Fire captains, engineers, firefighters and paramedics with the Folsom Fire Department began contributing 5 percent of their salary this month toward their retirement under the terms of a new labor contract.
The payments to the employees' portion of the California Public Employees' Retirement System will rise to the full 9 percent starting in January, city officials announced.
Also starting this month, most cities and counties in the Sacramento region will need to step up their contributions to CalPERS to help counter large investment losses from 2008 and to help fund growing retirement obligations.
Folsom Mayor Andy Morin noted that the major provisions of the new Fire Department contract are comparable to labor agreements the city recently reached with other bargaining groups.
"Our resident taxpayers should feel good knowing that with this agreement all city employees will soon be paying their share of retirement costs, as well as increasingly higher portions of health care premiums," Morin said in a prepared statement.
Newly hired city employees covered by Sacramento Area Firefighters, Local 522 will work under a revised retirement formula.
They will be eligible for 2 percent at age 50 based on the average of the three highest years of pay. The 2 percent is multiplied by the years of service.
Current public safety employees receive 3 percent at age 50, based on the worker's single highest year of pay.
The employees agreed also to increase their monthly contributions toward health care coverage.
The 18-month contract took effect Friday and expires on Dec. 31, 2012.
City Manager Kerry Miller said the agreement ensures no layoffs will occur within the ranks of the Local 522 employees for the term of the contract.
Tracy Randall, Local 522 unit representative, said in the city news release that the contract will protect the current response times and provide for the safety of the community and firefighters.
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