Classic Member Retirement Contributions. Classic Member Employees shall pay a total pension contribution of 12%.
Classic Member Retirement Contributions. 1. The City shall pay the employer contribution rate to the extent and limits required by the Public Employees' Retirement System and Social Security.
Classic Member Retirement Contributions. The employee shall pay 6% of the member contribution effective the first full pay period following July 1, 2017. Effective the first full pay period following July 1, 2018 the employee shall pay 9% of the member contribution plus an additional “cost share” pension contribution of 3%, total pension contribution shall be 12%. This cost sharing pension contribution shall initially be implemented outside of a CalPERS contract amendment as authorized by Government Code Section 20516(f). As soon as administratively feasible the City shall implement a contract amendment. This pension contribution shall extend beyond the expiration of this MOU and is intended to satisfy the 2018 member contribution pursuant to PEPRA.
