Cost Sharing – Miscellaneous Classifications Sample Clauses

Cost Sharing – Miscellaneous Classifications. The City shall contract with CalPERS for Variable Rate Cost Sharing of up to the Permanent Cost Share of 1.868% under Government Code Section 20516(a), based on the optional benefits established in the Miscellaneous Plan of the City’s contract with CalPERS for the 2%@55 and One-Year Final Compensation Optional Benefits. In addition to the current 7% employee contribution, employees in the Miscellaneous Classifications covered by this MOU shall contribute an additional 1.868% of the employee’s PERSable earnings towards the employer retirement contribution. This 8.868% contribution shall be in accordance with Section 414(h)(2) of the Internal Revenue Code whereby employee contributions shall be tax deferred and not subject to taxation until the time of constructive receipt.
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Cost Sharing – Miscellaneous Classifications. The City shall contract with PERS for Variable Rate Cost Sharing of up to the Permanent Cost Share of 1.868% under Government Code Section 20516(a), based on the optional benefits established in the Miscellaneous Plan of the City’s contract with PERS for the 2%@55 and One-Year Final Compensation Optional Benefits. This PERS contract amendment shall take effect no earlier than January 1, 2013. Effective the first day of the next full pay period following the effective date of the PERS contract amendment, in addition to the current 7% employee contribution, employees in the Miscellaneous Classifications covered by this MOU shall contribute an additional 1.868% of the employee’s PERSable earnings towards the employer retirement contribution. This 8.868% contribution shall be in accordance with Section 414(h)(2) of the Internal Revenue Code whereby employee contributions shall be tax deferred and not subject to taxation until the time of constructive receipt.
Sample 1Sample 2Sample 3See All (5)
Cost Sharing – Miscellaneous Classifications. The City shall contract with CalPERS for Variable Rate Cost Sharing of up to the Permanent Cost Share of 1.868% under Government Code Section 20516(a), based on the optional benefits established in the Miscellaneous Plan of the City’s contract with CalPERS for the 2%@55 and One-Year Final Compensation Optional Benefits. This PERS contract amendment shall take effect no earlier than January 1, 2013. Effective the first day of the next full pay period following the effective date of the PERS contract amendment, iIn addition to the current 7% employee contribution, employees in the Miscellaneous Classifications covered by this MOU shall contribute an additional 1.868% of the employee’s PERSable earnings towards the employer retirement contribution. This 8.868% contribution shall be in accordance with Section 414(h)(2) of the Internal Revenue Code whereby employee contributions shall be tax deferred and not subject to taxation until the time of constructive receipt. Alternative to PERS Cost Sharing Should the other City employees under the City’s PERS Miscellaneous Plan not approve the PERS cost sharing by December 31, 2012, then effective January 13, 2013, the employees covered by this MOU shall contribute a cost share amount to the City as an additional 1.868% of earnings towards the employer retirement contribution through a payroll deduction, which shall be deducted in accordance with Section 414(h)(2) of the Internal Revenue Code, to the extent legally allowed, whereby employee contributions shall be tax deferred and not subject to taxation until the time of constructive receipt.
Sample 1

Related to Cost Sharing – Miscellaneous Classifications

  • MISCELLANEOUS ITEMS Borrower shall deliver to Lender such other items, documents and evidences pertaining to the Line of Credit as may reasonably be requested by Lender.

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  • Miscellaneous Leaves L31.1 Application for Miscellaneous Leave shall be made to the Executive Superintendent of Employee Services or designate. The Teacher shall notify the principal at the time the application is made and whenever possible shall make the application at least five days prior to the day for which the leave is requested.

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  • Miscellaneous Leave Leave with or without pay may be granted for the following purposes subject to the criteria set out below being met:

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  • Treatment of Passthru Payments and Gross Proceeds The Parties are committed to work together, along with Partner Jurisdictions, to develop a practical and effective alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden.

  • How Are Contributions to a Xxxx XXX Reported for Federal Tax Purposes You must file Form 5329 with the IRS to report and remit any penalties or excise taxes. In addition, certain contribution and distribution information must be reported to the IRS on Form 8606 (as an attachment to your federal income tax return.)

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