CALPERS EMPLOYEE COST SHARING Sample Clauses

CALPERS EMPLOYEE COST SHARING. Employer contribution requirements are calculated and adjusted annually by CalPERS. The total employer contribution requirement is comprised of the Employer Normal Cost Rate (a percentage) and the Employer Payment of Unfunded Liability (a fixed dollar amount). The Employer Payment of Unfunded Liability is converted to a percentage by dividing the CalPERS projected payroll. Adding the Employer Normal Cost Rate to the percentage equivalent of the Employer Payment of Unfunded Liability results in the Total Employer Contribution Rate. It is agreed that, effective July 1, 2019, in the event that the Total Employer Contribution Rate exceeded 25% of pensionable income, unit employees shall pay 50% of the increase, up to 3.5% of pensionable income. For example, if the employer contribution rate increases to 27% of pensionable income, the City would pay 26% of pensionable income and the unit employee would pay 1% of pensionable income. The Total Employer Contribution Rate for Fiscal Year 2020-21 is 29.86% of pensionable income. Therefore, the employee share of is the Total Employer Contribution Rate for Fiscal Year 2020-21 is 2.43%. The City agrees to pause the 2.43% employee cost sharing effective with the pay period beginning January 4, 2021 through pay period ending June 20, 2021. The 2.43% employee cost sharing shall resume with the pay period beginning June 21, 2021. Employees shall not be required to reimburse the City for any amounts not paid during the pay period beginning January 4, 2021 through pay period ending June 20, 2021.
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CALPERS EMPLOYEE COST SHARING. Employer contribution requirements are calculated and adjusted annually by CalPERS. The total employer contribution requirement is comprised of the Employer Normal Cost Rate (a percentage) and the Employer Payment of Unfunded Liability (a fixed dollar amount). The Employer Payment of Unfunded Liability is converted to a percentage by dividing the CalPERS projected payroll. Adding the Employer Normal Cost Rate to the percentage equivalent of the Employer Payment of Unfunded Liability results in the Total Employer Contribution Rate. The Total Employer Contribution Rate for Fiscal Year 2017-18 is 22.969% of pensionable income. Effective July 1, 2019, in the event that the Total Employer Contribution Rate exceeds 25% of pensionable income, unit employees shall pay 50% of the increase, up to 3.5% of pensionable income. For example, if the employer contribution rate increases to 27% of pensionable income, the City would pay 26% of pensionable income and the unit employee would pay 1% of pensionable income.
Sample 1Sample 2
CALPERS EMPLOYEE COST SHARING. Employer contribution requirements are calculated and adjusted annually by CalPERS. The total employer contribution requirement is comprised of the Employer Normal Cost Rate (a percentage) and the Employer Payment of Unfunded Liability (a fixed dollar amount). The Employer Payment of Unfunded Liability is converted to a percentage by dividing the CalPERS projected payroll. Adding the Employer Normal Cost Rate to the percentage equivalent of the Employer Payment of Unfunded Liability results in the Total Employer Contribution Rate. It was agreed that, effective July 1, 2019, in the event that the Total Employer Contribution Rate exceeded 25% of compensation earnable/pensionable compensation, unit employees shall pay 50% of the increase, up to 3.5% of compensation earnable/pensionable compensation. For example, if the employer contribution rate increases to 27% of compensation earnable/pensionable compensation, the City would pay 26% of compensation earnable/pensionable compensation and the unit employee would pay 1% of compensation earnable/pensionable compensation. The Total Employer Contribution Rate for Fiscal Year 2023-2024 is 32.42% of compensation earnable/pensionable compensation. Therefore, the employee share of the Total Employer Contribution Rate for Fiscal Year 2023-2024 is 3.5% (maximum cost sharing contribution). Prior to this 2023 MOU, the phrase “pensionable income” was used in place of the phrase “compensation earnable/pensionable compensation.” This change was not intended to substantively effect the meaning of the provision.
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Related to CALPERS EMPLOYEE COST SHARING

  • Employee Contribution Eligible employees shall contribute one percent (1%) of their salary on a per pay period basis to the HCSP.

  • Voluntary Employee Contributions (i) Subject to the governing rules of the relevant superannuation fund, an employee may, in writing, authorise their employer to pay on behalf of the employee a specified amount from the post- taxation wages of the employee into the same superannuation fund as the employer makes the superannuation contributions provided for in Clause 24(b). (ii) An employee may adjust the amount the employee has authorised their employer to pay from the wages of the employee from the first of the month following the giving of three months’ written notice to their employer. (iii) The employer must pay the amount authorised under Clauses 24(d)(i) or 24(d)(ii) no later than 28 days after the end of the month in which the deduction authorised under Clauses 24(d)(i) or 24(d)(ii) was made.

  • Employee Contributions Any member of the bargaining unit who is hired on or after September 1, 2010 is eligible to make a voluntary contribution to the City=s Deferred Compensation Plan offered by Ameritas.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.05(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long-term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or via the Government Employees Compensation Act prevents the employee from receiving Employment Insurance or Québec Parental Insurance Plan benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.05(a), other than those specified in sections (A) and (B) of subparagraph 17.05(a)(iii), shall be paid, in respect of each week of benefits under the parental allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of the employee's rate of pay and the gross amount of his or her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.05 for a combined period of no more than the number of weeks during which the employee would have been eligible for parental, paternity or adoption benefits under the Employment Insurance or Québec Parental Insurance Plan, had the employee not been disqualified from Employment Insurance or Québec Parental Insurance Plan benefits for the reasons described in subparagraph (a)(i).

  • Employee Compensation The wages, salaries and other compensation paid to employees who will be employed for the benefit of the Project, and to others who perform special services for the benefit of the Project, to the extent not otherwise paid through a Cash Management System, shall be paid by Owner from a Project Account pursuant to this Section 9.2. (a) All wages, salaries and other compensation paid to employees of the Project, including, but not be limited to, unemployment insurance, social security, worker's compensation, employee benefit packages and other charges imposed by a governmental authority or provided for in a union agreement, shall (a) as to employees of Manager or any Subcontractor, be reimbursed by Owner to Manager (or directly to the applicable Subcontractor, if requested by Manager) without profit or mark-up, and (b) as to employees of Owner, be paid directly by Owner. Xxnager shall coordinate all disbursements and deposits for all compensation and other amounts payable with respect to persons employed in connection with the operation of the Project from an appropriate Project Account. Manager shall maintain complete payroll records for all employees. (b) In addition to the employment of employees set forth on Schedule 3, Manager may, in its discretion, from time to time employ personnel of its general operations to perform direct special services for the benefit of the Project; provided, however, that Manager shall obtain the prior approval of Owner for the employment of such special personnel, except in emergency situations or when timing requirements do not allow for such prior approval. Owner shall reimburse Manager for such direct services rendered by special personnel in an amount commensurate with normal and customary charges for such services by similarly qualified persons. Persons whose compensation may not be charged to Owner for services rendered to the Project includes the general asset management personnel of Manager who are not on-site of the Project.

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.02(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or the Government Employees Compensation Act prevents her from receiving Employment Insurance or Québec Parental Insurance Plan maternity benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.02(a), other than those specified in sections (A) and (B) of subparagraph 17.02(a)(iii), shall be paid, in respect of each week of maternity allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of her weekly rate of pay and the gross amount of her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.02 for a combined period of no more than the number of weeks during which she would have been eligible for maternity benefits under the Employment Insurance or Québec Parental Insurance Plan had she not been disqualified from Employment Insurance or Québec Parental Insurance maternity benefits for the reasons described in subparagraph (a)(i).

  • Shift Employees Employees who work rotating shift patterns or those who work qualifying shifts shall be entitled, on completion of 12 months employment on shift work, to up to an additional 5 days annual leave, based on the number of qualifying shifts worked. The entitlement will be calculated on the annual leave anniversary date. Qualifying shifts are defined as a shift which involves at least 2 hours work performed outside the hours of 8.00am to 5.00pm, excluding overtime. Number of qualifying shifts per annum Number of days additional leave per annum 121 or more 5 days 96 – 120 4 days 71 – 95 3 days 46 – 70 2 days 21 – 45 1 day

  • Overtime-Eligible Employees Employees who are covered by the overtime provisions of state and federal law.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Affected Employees 6.8(a) Affiliate............................................................................... 5.1(a)(iii) Agreement...............................................................................

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