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

Employee Contribution Toward Retiree Medical Obligation Unfunded Liability. (OPEB) Effective September 1, 2014 (pay period 14/19), OPEB contributions will be suspended. Beginning August 31, 2015 (pay period 15/19), employees shall contribute $13.50 on a biweekly basis toward the lowest cost early retiree premium rate. Such contributions are to be made on a 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. (OPEB) Effective September 1October 13, 2014 (pay period 14/19)2014, OPEB contributions will be suspended. Beginning August 31, 2015 (pay period 15/19), all coded employees shall contribute $13.50 on a biweekly basis toward an amount to ten dollars ($10.00) of the lowest cost early retiree premium ratepremium. Effective October 26, 2015, all coded employees shall contribute on a biweekly basis twelve dollars ($12.00) of the lowest cost early retiree premium. Such contributions are to be made on a prean after-tax basis, 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. (OPEB) Effective September 1, 2014 (pay period 14/19)16/11, OPEB contributions will be suspended. Beginning August 31May 9, 2015 (pay period 15/19)2016, all coded employees shall contribute $13.50 on a biweekly basis thirteen dollars and fifty cents ($13.50) toward the lowest cost early retiree premium ratemedical obligation unfunded liability. Such contributions are to be made on a 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. (OPEB) Effective September 1, 2014 (pay period 14/19), OPEB contributions will be suspended. Beginning August 31December 21, 2015 (pay period 15/19), all coded employees shall contribute $13.50 on a biweekly basis fifteen thirteen dollars and fifty cents ($15.0013.50) toward the lowest cost early retiree premium ratemedical obligation unfunded liability. Such contributions are to be made on a 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.