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Exhibit A — Employee Enhancements <br />1. Increase the vacation maximum accrual from 240 hours annually to 280 hours for each <br />vacation accrual tier. <br />2. Retiree Health for the Tier 2 employees hired after October 11, 2007, until the age 65 years <br />of age with the following qualifiers: <br />a. Must work with the Town with at least 5 years. <br />b. Must retire from the Town. Benefit will be effective at age 60. <br />c. Vesting schedule (see below) would be implemented based on Ca1PERS service <br />and would determine the Town's contribution towards the retiree's health premium. <br />10 years 50% <br />11-12 years 60% <br />13-14 years 70% <br />15-17 years 85% <br />18-20 years 90% <br />20 + years 100% <br />3. 401 (A) Plan- Defined Contribution. The staff is recommending the Town contributes <br />4% of the.employee's annual salary with a cap of the PEPRA salary maximum, currently <br />at $161,969 and based on the employee enrolled in the 457 Plan (flexible deferred <br />compensation plan). The Town will match up to 4% of what the employee is <br />contributing. <br />Resolution 34-22 Page 2 <br />