Classic Employees’ Pension Contribution Sample Clauses

Classic Employees’ Pension Contribution. On July 1, 1994, the City increased the base salary for Classic Employees participating in the Safety Fire Plan, in the amount of nine percent (9%). Employees then assumed responsibility for payment of the normal employee retirement contribution to CalPERS. The City designated and shall continue to designate such payments as an Employer Pickup as defined under the provisions of Section 414(h)(2) of the Internal Revenue Code. The employee contributions shall be made through automatic payroll deduction.
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Classic Employees’ Pension Contribution. ‌ Effective July 1, 1994, the City increased the base salary of employees by nine percent (9%). Employees then assumed and shall continue to assume an obligation to pay this 9% normal employee contribution retirement to CalPERS. Employees also contributed three percent (3%) toward the City’s CalPERS employer contribution rate via automatic payroll deduction on a pre-tax basis from July 1, 2012 through June 30, 2015. The City and Association agree that, effective January 1, 2016 employees will pay an additional 1% contribution to the City’s CalPERS employer contribution rate via automatic payroll deduction. Effective July 1, 2016, employees will pay an additional 1% contribution to the City’s CalPERS employer contribution rate via automatic payroll deduction. The City shall designate such payments to the City’s CalPERS employer contribution rate as an Employer Pickup as defined by Section 414(h)(2) of the Internal Revenue Code.
Sample 1
Classic Employees’ Pension Contribution. The City increased the base salary of employees by nine percent (9%). Employees then assumed and shall continue to assume an obligation to pay this 9% normal employee contribution retirement to CalPERS. Employees also contributed three percent (3%) toward the City’s CalPERS employer contribution rate via automatic payroll deduction on a pre-tax basis from July 1, 2012 through June 30, 2015., employees will pay an additional 1% contribution to the City’s CalPERS employer contribution rate via automatic payroll deduction. Employees will pay an additional 1% contribution to the City’s CalPERS employer contribution rate via automatic payroll deduction. The City shall designate such payments to the City’s CalPERS employer contribution rate as an Employer Pickup as defined by Section 414(h)(2) of the Internal Revenue Code.
Sample 1

Related to Classic Employees’ Pension Contribution

  • Pension Contributions 19.2.3.1 Unless required by law to commence receiving a pension prior to the Member’s actual retirement date (i.e., currently December 31 of the year in which the Member attains age sixty-nine (69)) the Member who postponed retirement beyond his or her TRD will continue to make pension contributions.

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • Retirement Contribution The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications. Corrections Firearms Instructor Oil & Hazardous Material Responder I Oil & Hazardous Material Responder II

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • 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).

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • Beneficiary Rollovers from Employer-Sponsored Retirement Plans If you are a spouse Beneficiary, nonspouse Beneficiary, or the trustee of an eligible type of trust named as Beneficiary of a deceased employer plan participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan to an inherited IRA. The IRA must be maintained as an inherited IRA, subject to the beneficiary distribution requirements.

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