Common use of CalPERS Retirement Formula and Employer Clause in Contracts

CalPERS Retirement Formula and Employer. Paid Member Contribution for Classic Employees (i.e. current employees and employees who do not qualify as “New Members” under PEPRA) Current employees and other employees who do not qualify as “New Members” under PEPRA shall continue to be entitled to the 2.7% at age 55 retirement formula benefit, and the City shall continue the contribution of eight percent (8%) to CalPERS on behalf of the employee.

CalPERS Retirement Formula and Employer. Paid Member Contribution for Classic Employees (i.e. current employees and employees who do not qualify as “New Members” under PEPRA) PEPRA)‌ Current employees and other employees who do not qualify as “New Members” under PEPRA shall continue to be entitled to the 2.7% at age 55 retirement formula benefit, and the City shall continue the contribution of eight percent (8%) to CalPERS on behalf of the employee.

CalPERS Retirement Formula and Employer. Paid Member Contribution for Classic Employees (i.e. current employees and employees who do not qualify as “"New Members” " under PEPRA) Current employees and other employees who do not qualify as “"New Members” " under PEPRA shall continue to be entitled to the 2.7% at age 55 retirement formula benefit, and the City shall continue the contribution of eight percent (8%) to CalPERS on behalf of the employee.

CalPERS Retirement Formula and Employer. Paid Member Contribution for Classic Employees (i.e. current employees and employees who do not qualify as “New Members” under PEPRA) ): Current employees and other employees who do not qualify as “New Members” under PEPRA shall continue to be entitled to the 2.7% at age 55 retirement formula benefit, and the City shall continue the contribution of eight percent (8%) to CalPERS on behalf of the employee.