Common use of Classic Members’ Pension Contribution Clause in Contracts

Classic Members’ Pension Contribution. Effective November 6, 2016, employees will contribute eight percent (8.0%) toward the City’s CalPERS employer share of pension through a 20516 CalPERS amendment that allows such contributions via automatic payroll deduction on a pre-tax basis, in exchange for the City granting the salary increase set forth in Section 13.1.5 (CalPERS Salary Exchange) of this MOU. Such employee deductions by the City shall be used towards the City’s CalPERS required contributions. The parties recognize that the Employer Paid Member Contributions (EPMC) shall remain in effect as long as the CalPERS amendment stays in effect.