Common use of Cost Sharing of Employer Contribution Clause in Contracts

Cost Sharing of Employer Contribution. Employees defined as “ classic members” per CalPERS and PEPRA/PERL agree to pay a portion of the employer’s contribution costs as follows: a. Per the CalPERS contract amendment which went into effect on October 29, 2016, S B E A / M S U employees w i l l c o n t i n u e t o p a y an additional 2% of pay towards the cost of the CalPERS retirement benefit. This 2% is in addition to the employees paying their entire employee portion of the CalPERS retirement contribution. (11% of pay total)