Common use of Additional Required Employee Contribution Clause in Contracts

Additional Required Employee Contribution. In addition to the required employee contribution, employees covered by this section 7.11.2 will contribute an additional amount as follows: The Union and the City agree that if the City’s total employer contribution rate for Tier 1 employees is more than 14.025% the amount above 14.025% will be shared equally between the City (50%) and the Tier 2 employees (50%) (“Employer Contribution Rate Formula”). This Employer Contribution Rate Formula shall continue upon the expiration of this Memorandum of Understanding. For Tier 2 employees, the total employee contribution maximum cap shall not exceed 8% (“Maximum Cap”). This 8% Maximum Cap includes: (a) The existing 7% employee contribution; and (b) Any additional cost sharing of the employer contribution that may result from application of the Employer Contribution Rate Formula. The Maximum Cap of 8% shall continue upon the expiration of this Memorandum of Understanding, except employees shall be required to pay any increases to the CalPERS- established employee contribution amount, as set forth in Section C.

Additional Required Employee Contribution. In addition to the required employee contribution, employees covered by this section 7.11.2 7. 11.1 will contribute an additional amount as follows: The Union and the City agree that if the City’s total employer contribution rate for Tier 1 employees is more than 14.025% %, the amount above 14.025% will be shared equally between the City (50%) and the Tier 2 1 employees (50%) (“Employer Contribution Rate Formula”). This Employer Contribution Rate Formula shall continue upon the expiration of this Memorandum of Understanding. For Tier 2 1 employees, the total employee contribution maximum cap shall not exceed 814% (“Maximum Cap”). This 814% Maximum Cap includes: (a) The existing 78% employee contribution; and (b) Any additional cost sharing of the employer contribution that may result from application of the Employer Contribution Rate Formula. The Maximum Cap of 814% shall continue upon the expiration of this Memorandum of Understanding, except employees shall be required to pay any increases to the CalPERS- CalPERS-established employee contribution amount, as set forth in Section C.

Additional Required Employee Contribution. In addition to the required employee contribution, employees covered by this section 7.11.2 7.9.2 will contribute an additional amount as follows: The Union and the City agree that if the City’s total employer contribution rate for Tier 1 employees is more than 14.025% the amount above 14.025% will be shared equally between the City (50%) and the Tier 2 employees (50%) (“Employer Contribution Rate Formula”). This Employer Contribution Rate Formula shall continue upon the expiration of this Memorandum of Understanding. For Tier 2 employees, the total employee contribution maximum cap shall not exceed 8% (“Maximum Cap”). This 8% Maximum Cap includes: (a) The existing 7% employee contribution; and (b) Any additional cost sharing of the employer contribution that may result from application of the Employer Contribution Rate Formula. The Maximum Cap of 8% shall continue upon the expiration of this Memorandum of Understanding, except employees shall be required to pay any increases to the CalPERS- CalPERS-established employee contribution amount, as set forth in Section C.

Additional Required Employee Contribution. In addition to the required employee contribution, employees covered by this section 7.11.2 7. 9.1 will contribute an additional amount as follows: The Union and the City agree that if the City’s total employer contribution rate for Tier 1 employees is more than 14.025% %, the amount above 14.025% will be shared equally between the City (50%) and the Tier 2 1 employees (50%) (“Employer Contribution Rate Formula”). This Employer Contribution Rate Formula shall continue upon the expiration of this Memorandum of Understanding. For Tier 2 1 employees, the total employee contribution maximum cap shall not exceed 814% (“Maximum Cap”). This 814% Maximum Cap includes: (a) The existing 78% employee contribution; and (b) Any additional cost sharing of the employer contribution that may result from application of the Employer Contribution Rate Formula. The Maximum Cap of 814% shall continue upon the expiration of this Memorandum of Understanding, except employees shall be required to pay any increases to the CalPERS- CalPERS-established employee contribution amount, as set forth in Section C.