CalPERS Cost Sharing Sample Clauses

CalPERS Cost Sharing. Effective the beginning of the last full pay period in fiscal year 2021/22 (which is 06/12/22), Classic Member employees will pay half the normal cost of their pensions, as determined annually by the CalPERS Actuarial Valuation Report, with a total employee contribution cap of 9.14%. The total employee contribution, including any cost sharing, will continue to be in effect beyond expiration of this MOU.
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CalPERS Cost Sharing. Effective as soon as administratively possible following ratification by the Unit and adoption by the Board, employees who receive the CalPERS 2.7% @ 55 pension benefit will contribute 1.0% towards the employer’s CalPERS required contribution. Effective for the pay period beginning December 20, 2018 employees who receive the CalPERS 2.7% @ 55 pension benefit will contribute an additional 1.0% towards the employer’s CalPERS required contribution, for a total employee contribution of 2.0%.
Sample 1
CalPERS Cost Sharing. The employer contribution rate is established and adjusted annually by the CalPERS Board. In FY 14-15, the Xxxxxx City employer safety contribution rate is 39.23%. In the event that the employer contribution rate exceeds 50%, the City and POA have agreed that unit employees shall pay 50% of the increase up to a maximum of 5%. This Cost Sharing arrangement shall be made in accordance with California Government Code Section 20156 (f). Contributions made by unit employees shall be on a pre-tax basis. It is expressly understood and agreed that the City has no authority or jurisdiction by which to bind CalPERS, the Internal Revenue Service (IRS), the Franchise Tax Board or any other agency (collective “Entities) to a determination that such contributions are indeed pre-tax. Thus the parties acknowledge and agree that the City shall have no liability to any individual unit employee or the collective bargaining unit should any of the aforementioned Entities reject treatment of said contributions as pre-tax.
Sample 1
CalPERS Cost Sharing. Effective as soon as practical after final ratification of this agreement by the City Council, employees who are Tier 1 retirement benefit employees as defined by Section 11 (“Retirement”) of this agreement (Full-Time Employees hired on or before June 30, 2012) shall receive a general salary increase of four percent (4.0%). Effective the same date, Tier 1 employees shall contribute four percent (4.0%) of total pensionable compensation towards the normal cost of the CalPERS pension benefit. Said employee pickup shall be deducted on a deferred compensation basis. The City shall continue to report four percent (4.0%) as Employer Paid Member Contribution (EPMC) for pensionable compensation purposes. Effective as soon as practical after final ratification of this agreement by the City Council, employees who are Tier 2 retirement benefit employees as defined by Section 11 (“Retirement”) of this agreement (Full-Time Employees hired after June 30, 2012 and before January 1, 2013) shall receive a general salary increase of three percent (3.0%). Effective the same date, Tier 2 employees shall contribute three percent (3.0%) of total pensionable compensation towards the normal cost of the CalPERS pension benefit. Said employee pickup shall be deducted on a deferred compensation basis. Effective July 1, 2016, all employees covered by this agreement shall receive an across the board general salary increase of two percent (2.0%).
Sample 1
CalPERS Cost Sharing. Effective July 1 2016, employees who are Tier 1 retirement benefit employees as defined by Section 11 (“Retirement”) of this agreement (Full-Time Employees hired on or before June 30, 2012) shall receive a general salary increase of four percent (4.0%). Effective the same date, Tier 1 employees shall contribute four percent (4.0%) of total pensionable compensation towards the normal cost of the CalPERS pension benefit for a total employee pick-up of eight percent (8.0%). Said employee pickup shall be deducted on a deferred compensation basis. The City shall provide all SEIU Local 721 represented employees covered by this agreement with any greater economic benefits provided to any other City bargaining unit, group, or individual that they may receive during the term of this agreement.
Sample 1
CalPERS Cost Sharing. The employer contribution rate is established and adjusted annually by the CalPERS Board. In FY 19-20, the Xxxxxx City employer safety contribution rate is 59.33
Sample 1
CalPERS Cost Sharing. The employer contribution rate is established and adjusted annually by the CalPERS Board. In FY 20-21, the Xxxxxx City employer safety contribution rate is 62.291[WS1]% of pensionable income. In the event that the employer contribution rate exceeds 50% of pensionable income, the City and the Union have agreed that unit employees shall pay 50% of the increase up to a maximum of 5% of pensionable income. For example, should the employer contribution rate increase to 62% of pensionable income, the employees shall pay 5% of pensionable income (their cap) and the City shall pay 57% of pensionable income. This Cost Sharing arrangement shall be made in accordance with California Government Code Section 20156 (f). Contributions made by unit employees shall be on a pre-tax basis. It is expressly understood and agreed that the City has no authority or jurisdiction by which to bind CalPERS, the Internal Revenue Service (IRS), the Franchise Tax Board or any other agency ("Entities”) to a determination that such contributions are indeed pre-tax. Thus the parties acknowledge and agree that the City shall have no liability to any individual unit employee or the collective bargaining unit should any of the aforementioned Entities reject treatment of those contributions as pre-tax.
Sample 1
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Related to CalPERS Cost Sharing

  • Cost Sharing a) With respect to the funding in C6.1a), should there be an amount of employee co-pay, the Trust shall advise boards what that amount shall be. Unless advised otherwise, there will be no deductions upon the Participation Date. b) Any further cost sharing or funding arrangements as per previous local collective agreements in effect as of August 31, 2014 remain status quo.

  • Insurance Costs (08/19) Contractor shall be financially responsible for all premiums, deductibles, self-insured retentions, and self-insurance.

  • Start-Up Costs The Government of Ontario will provide:

  • Transportation Expenses The reasonable and necessary expenses of transportation required in the performance of Superintendent’s official duties shall be reimbursed at the rate set annually by the Board for District travel.

  • Seller’s Costs In connection with the sale of the Property contemplated under this Contract, Seller shall be responsible for all transfer and recordation taxes, including, without limitation, all transfer, mansion, excise, sales, use or bulk transfer taxes or like taxes on or in connection with the transfer of the Real Property and the Personal Property constituting part of the Property pursuant to the Xxxx of Sale, and all accrued taxes of Seller prior to Closing and income, sales and use taxes and other such taxes of Seller attributable to the sale of the Property to Buyer. Seller shall be responsible for all costs related to the termination of the Existing Management Agreement as provided in Article V. Seller shall also be responsible for any costs and expenses of its attorneys, accountants, appraisers and other professionals, consultants and representatives. Seller shall also be responsible for payment of all prepayment penalties and other amounts payable in connection with the pay-off of any liens and/or indebtedness encumbering all or any portion of the Property.

  • Training Costs All costs and expenses incurred by the Contractor in the training of its employees engaged in Petroleum Operations, and such other training as is required by this Agreement.

  • Direct Charges To the extent Cash-based Expenses are incurred by the Contractor, the Contractor shall be reimbursed for reasonable and necessary actual direct costs incurred (e.g., equipment, supplies, travel and other costs directly associated with the performance of the Agreement) to the extent required in the performance of the Work and to the extent such costs are anticipated in the Budget. Travel, lodging, meals and incidental expenses shall be reimbursed for reasonable and necessary costs incurred. Costs shall not exceed the daily per diem rates published in the Federal Travel Regulations. Reimbursement for the use of personal vehicles shall be limited to the Internal Revenue Service business standard mileage rate in effect at the time the expense was incurred.

  • Costs, Expenses and Taxes (a) In addition to the rights of indemnification granted under Article XI hereof, the Seller and Originator agrees to pay on demand all reasonable out of pocket costs and expenses of the Administrative Agent, the Backup Servicer, the Collateral Custodian and the Secured Parties incurred in connection with the preparation, execution, delivery, administration (including periodic auditing, which shall be limited to two audits per year prior to the occurrence of a Termination Event), renewal, amendment or modification of, or any waiver or consent issued in connection with, this Agreement and the other documents to be delivered hereunder or in connection herewith (including any Hedging Agreement), including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent, the Backup Servicer, the Collateral Custodian and the Secured Parties with respect thereto and with respect to advising the Administrative Agent, the Backup Servicer, the Collateral Custodian and the Secured Parties as to their respective rights and remedies under this Agreement and the other documents to be delivered hereunder or in connection herewith (including any Hedging Agreement), and all reasonable out of pocket costs and expenses, if any (including reasonable counsel fees and expenses), incurred by the Administrative Agent, the Backup Servicer, the Collateral Custodian or the Secured Parties in connection with the enforcement of this Agreement and the other documents to be delivered hereunder or in connection herewith (including any Hedging Agreement). (b) The Seller and Originator shall pay on demand any and all stamp, sales, excise and other taxes and fees payable or determined to be payable in connection with the execution, delivery, filing and recording of this Agreement, the other documents to be delivered hereunder or any agreement or other document providing liquidity support, credit enhancement or other similar support to the Purchasers in connection with this Agreement or the funding or maintenance of Advances hereunder. (c) The Seller and Originator shall pay on demand all other reasonable out of pocket costs, expenses and Taxes (excluding income taxes) incurred by the Administrative Agent and the Secured Parties (“Other Costs”), including, without limitation, all costs and expenses incurred by the Administrative Agent in connection with periodic audits of the Seller’s or the Servicer’s books and records.

  • Premium Taxes If premium taxes are incurred, they will be deducted from the contract accumulation, to the extent permitted by law.

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