Common use of Employee Contribution Toward Retiree Medical Obligation Unfunded Liability Clause in Contracts

Employee Contribution Toward Retiree Medical Obligation Unfunded Liability. All coded employees shall contribute on a biweekly basis an amount equivalent to $13.50 of the lowest cost early retiree premium rate. Such contributions are to be made on an after-tax basis and employees shall have no vested right to the contributions made by the employees. Such contributions shall be used by the County exclusively to offset a portion of the County’s annual required contribution amount to the California Employers Retirement Benefit Trust established for the express purpose of meeting the County’s other post employment benefits (OPEB) obligations and shall not be used for any other purpose.

Employee Contribution Toward Retiree Medical Obligation Unfunded Liability. All coded employees shall contribute on a biweekly basis an amount equivalent to of $13.50 of the lowest cost early retiree premium rate15.00. Such contributions are to be made on an after-tax basis and employees shall have no vested right to the tothe contributions made by the employees. Such contributions shall be used by the County exclusively to offset a portion of the County’s annual required contribution amount to the California Employers Retirement Benefit Trust established for the express purpose of meeting the County’s other post employment benefits (OPEB) obligations and shall not be used for any other anyother purpose.

Employee Contribution Toward Retiree Medical Obligation Unfunded Liability. All coded Effective with the payperiod beginning August 18, 2014, employees shall contribute on a biweekly basis an amount equivalent to $13.50 13.0% of the lowest cost early retiree premium rate. Such contributions are to be made on an aftera pre-tax basis and employees shall have no vested right to the contributions made by the employees. Such contributions shall be used by the County exclusively to offset a portion of the County’s annual required contribution amount to the California Employers Retirement Benefit Trust established for the express purpose of meeting the County’s other post employment benefits (OPEB) obligations and shall not be used for any other purpose.

Employee Contribution Toward Retiree Medical Obligation Unfunded Liability. All Effective May 4, 2020, all coded employees shall contribute on a biweekly basis an amount equivalent to fifteen dollars ($13.50 15.00) of the lowest cost early retiree premium ratepremium. Such contributions are to be made on an after-after- tax basis and employees shall have no vested right to the contributions made by the employees. Such contributions shall be used by the County exclusively to offset a portion of the County’s annual required contribution amount to the California Employers Retirement Benefit Trust established for the express purpose of meeting the County’s other post post-employment benefits (OPEB) obligations and shall not be used for any other purpose.