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Retirement Benefits

Provided through the California Public Employees' Retirement System (CalPERS).
The California Employees' Pension Reform Act 2013:

  • If currently a CalPERS member and/or have not had a break in service greater than six months, will be
    considered a “Classic” member – Benefit Formula 2% @ 55.
  • If new to CalPERS on and after January 1, 2013, will be considered a “New” member – Benefit
    Formula 2% @ 62.

Retiree Health Benefits

Offered to employees at retirement with the City contributing toward the cost of health insurance premiums.

Holidays

100 hours per year. Holiday Closure - December 26 through December 31

Vacation

General employees receive vacation time as follows: up to 0 to 3 years - 100 hours; 4 to 8 years - 140 hours; 9 to 13 years - 164 hours; 14 to 17 years - 180 hours; 18 to 22 years - 196 hours; 23 to 27 years - 212 hours; 28+ years - 228 hours.

Sick Leave

General employees accrue annual sick leave at the rate of 3.6923 hours, equivalent to 96 hours annually, per pay period for (26) pay periods a year.

Annual Leave

In lieu of vacation and sick time, professional, supervisory and management employees receive annual leave time. Annual leave will accrue on a bi-weekly basis for twenty-six (26) pay periods a year as follows: 0 to 3 years - 7.308 bi-weekly hours (190 annual hours); 4 to 8 years - 230 hours; 9 to 13 years - 254 hours; 14 to 17 years - 270 hours; 18 to 22 years - 290 hours; 23 to 28 years - 306 hours; 29+ years - 322 hours.

In addition, newly hired supervisors and management employees may be credited with two weeks annual leave upon the date of hire.

Cafeteria Plan

This plan provides the employee with options in selecting the health insurance package that best suits their needs. Other options include long-term care, cancer insurance, critical illness, supplemental universal & term life insurance and flexible benefits plans (health care FSA and dependent care FSA). An employee can elect to waive medical insurance, and be eligible to receive a cash reimbursement or credit towards other options.

Medical Benefits

The City contributes flexible dollars to be applied toward the cost of medical benefits. The medical insurance is provided to employees and eligible dependents through the California Public Employees’ Retirement System. There are three Preferred Provider Organizations (PPO's) and seven Health Maintenance Organizations (HMO's) available.

Dental & Vision Insurance

Coverage is provided by the City of Thousand Oaks for employees and eligible dependents.

Basic Life Insurance

General, professional, supervisory and management employees receive $100,000 coverage and $5,000 dependent life policy. Executives receive 2 time annual earnings, maximum limits apply, and $5,000 dependent life policy.

Long-Term Disability

Qualified employees receive 66 2/3% of the first $12,000 of monthly predisability earnings, reduced by deductible income.

Employee Assistance Plan

Provided for employees and their dependents.

Education

Tuition reimbursement is available for courses taken through a college or university for job-related career courses that have been individually identified and approved.  Successful completion of probationary period applies.

Deferred Compensation

Amounts vary by employee classification. In addition, employees may voluntarily participate in the City’s 457 plan sponsored by ICMA-RC.

Fitness Center

Available to City employees only, a variety of free weights and aerobic equipment is available.  Located in the Civic Arts Plaza.

For more detailed benefits information listed by bargaining unit, please go to MOU/Contracts.