Classic Member Clause Samples
The "Classic Member" clause defines the rights, privileges, and obligations associated with a standard or baseline membership tier within an organization, club, or service. Typically, this clause outlines what benefits are available to Classic Members, such as access to certain facilities, events, or services, and may specify any limitations compared to higher-tier memberships. By clearly delineating the scope of membership, the clause ensures that both the organization and its members understand what is included at the Classic level, thereby preventing misunderstandings and setting expectations.
Classic Member. 1. A classic member is defined as an employee who meets the definition of a “classic” member for purposes of retirement pension benefits in accordance with the Public Employees Pension Reform Act of 2013. Generally, this includes employees that were hired before January 1, 2013 in the California Public Employees Retirement System (CalPERS) or a reciprocal retirement system with no break in service longer than six months. CalPERS ultimately determines who is a classic member in compliance with the law.
2. Classic members shall be eligible for the 2.5% @ 55 Full and Modified Formula for Local Miscellaneous Members including integration with Social Security. This also includes the optional benefit of Government Code Section 20042, Highest Single Year.
3. All classic members shall pay the employee’s contribution of eight (8%) percent as a pre-tax deduction to CalPERS.
Classic Member. Employees hired prior to March 19, 2012 shall contribute on a tax deferred basis 8% toward the PERS employee share. Employees hired after March 19, 2012, shall contribute on a tax deferred basis 7% toward the PERS employee share. Both City and employee contributions shall at the time of separation, belong to the employee. All other PERS contract options and policies in effect as of July 1, 2019 shall continue.
Classic Member. 1. A classic member is defined as an employee who meets the definition of a “classic” member for purposes of retirement pension benefits in accordance with the Public Employees Pension Reform Act of 2013. Generally, this includes employees that were hired before January 1, 2013 in the California Public Employees Retirement System (CalPERS) or a reciprocal retirement system with no break in service longer than six months. ▇▇▇▇▇▇▇ ultimately determines who is a classic member in compliance with the law.
2. Classic members entering membership for the first time in a Fire safety classification with the City of Ontario before July 1, 2012 shall be eligible for the 3% at 50 retirement formula for Local Safety members. Classic members entering membership for the first time in a Fire safety classification with the City of Ontario on or after July 1, 2012 shall be eligible for the 3% at 55 retirement formula for Local Safety members.
3. Classic members are eligible for the optional benefit of Government Code Section 20042, Highest Single Year.
4. The City shall pay on behalf of the employee a portion of the employee’s required pension contribution as follows: Effective Date City’s Contribution toward Employee’s Share Employee’s Contribution toward Employee’s Share
5. To the extent permitted by the IRS, pension contributions shall be made on a pre-tax basis.
Classic Member. 1. A classic member is defined as an employee who meets the definition of a “classic” member for purposes of retirement pension benefits in accordance with the Public Employees Pension Reform Act of 2013. Generally, this includes employees that were hired before January 1, 2013 in the California Public Employees Retirement System (CalPERS) or a reciprocal retirement system with no break in service longer than six months. ▇▇▇▇▇▇▇ ultimately determines who is a classic member in compliance with the law.
2. Classic employees shall be eligible for the 2.5% @ 55 Full and Modified Formula for Local Miscellaneous Members including integration with Social Security. This also includes the optional benefit of Government Code Section 20042, Highest Single Year.
3. The City shall pay on behalf of the employee a portion of the employee’s required contribution as follows: Effective Date City Payment toward Employee’s Share Employee’s Contribution toward Employee’s Share Current 8% None January 12, 2014 6% 2% July 13, 2014 4% 4% July 12, 2015 1.75% 6.25%
Classic Member member who entered into membership with a qualifying public retirement system on or before December 31, 2012 who does not meet the definition of “New Member” under Government Code §(f) and related CalPERS membership requirements. *Sworn Classic Members will receive three percent (3%) @ age 50. *Non-Sworn Classic Members will receive two percent (2%) @age 55.
Classic Member. 1. A classic member is defined as an employee who meets the definition of a “classic” member for purposes of retirement pension benefits in accordance with the Public Employees Pension Reform Act of 2013. Generally, this includes employees that were hired before January 1, 2013 in the California Public Employees Retirement System (CalPERS) or a reciprocal retirement system with no break in service longer than six months. ▇▇▇▇▇▇▇ ultimately determines who is a classic member in compliance with the law.
2. Classic members entering membership for the first time in a Fire safety classification with the City of Ontario before July 1, 2012 shall be eligible for the 3% at 50 retirement formula for Local Safety members. Classic members entering membership for the first time in a Fire safety classification with the City of Ontario on or after July 1, 2012 shall be eligible for the 3% at 55 retirement formula for Local Safety members.
3. Classic members are eligible for the optional benefit of Government Code Section 20042, Highest Single Year.
4. Effective January 2020, classic members of the unit will contribute no more than 9% of the employee’s share of the pension cost. To the extent permitted by the IRS, pension contributions shall be made on a pre-tax basis.
Classic Member. Employees hired prior to March 19, 2012, shall contribute on a tax-deferred basis 8% towards the PERS employee share. Employees hired after March 19, 2012 shall contribute on a tax-deferred basis 7% towards the PERS employee share.
Classic Member. 1. A classic member is defined as an employee who meets the definition of a "classic" member for purposes of retirement pension benefits in accordance with the Public Employees’ Pension Reform Act of 2013. Generally, this includes employees that were hired before January 1, 2013 in the California Public Employees Retirement System (CalPERS) or a reciprocal retirement system with no break in service longer than six months. ▇▇▇▇▇▇▇ ultimately determines who is a classic member in compliance with the law.
2. Classic members entering membership for the first time in a Local Public safety classification with the City of ▇▇▇▇▇▇ Beach shall be eligible for the 3% at 55 retirement formula for Local Safety members. Classic members are eligible for the optional benefit of Government Code Section 20042, Highest Single Year. Each Sworn Public Safety Management employee shall pay the full 9% portion of the employee's retirement contribution under ▇▇▇▇▇▇▇.
3. The PERS Local Miscellaneous 2.5% at Age 55 with One-Year Final Compensation is provided for non-safety Management and Confidential employees. Each non-safety Management and Confidential employee shall pay the full 8% portions of the employee's retirement contribution under ▇▇▇▇▇▇▇.
Classic Member. Effective July 1, 2004, the City provided enhanced retirement benefits pursuant to the formula outlined in Government Code Section 31676.14, commonly known as 2% at 55 for the members of this group, calculated on the single highest year of compensation.
Classic Member. Miscellaneous employees hired prior to March 19, 2012, shall contribute on a tax-deferred basis 8% toward the PERS employee share. Miscellaneous employees hired after March 19, 2012, shall contribute on a tax-deferred basis 7% toward the PERS employee share. Safety employees shall contribute 9% toward the PERS employee share. Both City and employee contributions shall at the time of separation belong to the employee. All other PERS contract options and policies in effect as of the ratification of this MOU shall continue.