Employee Cost Share – 50% of Normal Cost Sample Clauses

Employee Cost Share – 50% of Normal Cost a. Effective the first full pay period following March 14, 2017, each active Safety member of the Sonoma County Employees Retirement Association (SCERA) covered by this Section 26.1 shall contribute one and one half percent (1.5%) of any compensation required to be made to their employee retirement account as a contribution towards one half of the total normal cost (“total normal cost” includes both employer and member shares). The additional contribution shall be deducted from the employees’ compensation pretax and they shall become part of the accumulated retirement contributions of the employee. Employees covered by this section 12.4.4.(a) shall receive a lump sum benefit allowance each pay period as a reimbursement for the cost share arrangement, equal to the dollar value of the deduction described in this paragraph less any required taxes. b. Effective the first full pay period following March 14, 2017, each active Safety member of the Sonoma County Employees Retirement Association (SCERA) covered by this Section 26.1 shall contribute an additional one and one third percent (1.3%) for a total of 2.8% of any compensation required to be made to their employee retirement account as a contribution towards one half of the total normal cost (“total normal cost” includes both employer and member shares). The additional contribution shall be deducted from the employees’ compensation pretax and they shall become part of the accumulated retirement contributions of the employee. Employees covered by this section 12.4.4.(b) shall receive a lump sum benefit allowance each pay period as a reimbursement for the cost share arrangement, equal to the dollar value of the deduction described in this paragraph less any required taxes. c. The lump sum benefit allowance described in Sections 26.1.4 (a) and (b) will not be included in wages for computations of overtime, pension benefits or for any County benefit related purpose. The parties acknowledge that the negotiated cost share arrangement is subject to the approval of the Sonoma County Employees Retirement Association (SCERA) Board. In the event SCERA does not accept the purpose of the lump sum benefit as described herein, or if the SCERA deems the benefit allowance as pensionable compensation, the parties agree to reopen this section of the contract to meet and confer on a replacement pension cost share arrangement.
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Employee Cost Share – 50% of Normal Cost. ‌ a. Effective the first full pay period following September 1, 2016 (or as soon as administratively feasible), and subject to Sonoma County Employees’ Retirement Association (SCERA) Board approval of the cost share arrangement under the terms described herein, active County General legacy members of SCERA will contribute one-third of the actuarially-determined difference between the average General legacy employee retirement rate (exclusive of the 3.03% payroll contribution toward UAAL described in section 42.2.3 of the MOU) and one-half the total normal cost (“total normal cost” includes both employer and member shares) calculated as an average for General legacy members of the Sonoma County Employees’ Retirement Association (SCERA) covered by this Section 42.2.4 based on rates of all active County General legacy members, with the difference computed to a factor and applied equally to all legacy members. Such legacy employees will receive a lump sum benefit allowance as reimbursement for this pension cost share arrangement each pay period equal to the dollar value of the deduction described in this paragraph, less any required taxes. b. Effective the first full pay period following July 1, 2017, and subject to Sonoma County Employees’ Retirement Association (SCERA) Board approval of the cost share arrangement under the terms described herein, active County General legacy members of SCERA will contribute an additional one-third (for a total of two thirds) of the actuarially-determined difference between the average General legacy employee retirement rate (exclusive of the 3.03% payroll contribution toward UAAL described in section 42.2.3 of the MOU) and one-half the total normal cost (“total normal cost” includes both employer and member shares) calculated as an average for General legacy members of the Sonoma County Employees’ Retirement Association (SCERA) covered by this Section 42.2.4 based on rates of all active County General legacy members, with the difference computed to a factor and applied equally to all legacy members. Such legacy employees will receive a lump sum benefit allowance as reimbursement for this pension cost share arrangement each pay period equal to the dollar value of the deduction described in this paragraph, less any required taxes. c. The lump sum benefit described in Sections 42.2.4 (a) and (b) will not be included in wages for computations of overtime, pension benefits, or for any County benefit-related purpose.
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Employee Cost Share – 50% of Normal Cost. ‌ a. Effective the first full pay period following September 1, 2016, and subject to Sonoma County Employees Retirement Association (SCERA) Board approval of the cost share arrangement under the terms described herein, active County General legacy members of SCERA will contribute one third of the actuarially determined difference between the average General legacy employee retirement rate (exclusive of the 3.03% payroll contribution toward the UAAL described in section 27.
Sample 1Sample 2
Employee Cost Share – 50% of Normal Cost a. Effective the first full pay period following July 1, 2016, each active Safety member of the Sonoma County Employees Retirement Association (SCERA) covered by this Section 26.2 shall contribute one and one half percent (1.5%) of any compensation required to be made to their employee retirement account as a contribution towards one half of the total normal cost (“total normal cost” includes both employer and member shares). The additional contribution shall be deducted from the employees’ compensation pretax and they shall become part of the accumulated retirement contributions of the employee. Employees covered by this section 26.2.4.(a) shall receive a lump sum benefit allowance each pay period as a reimbursement for the cost share arrangement, equal to the dollar value of the deduction described in this paragraph less any required taxes. b. Effective July 1, 2017, each active Safety member of the Sonoma County Employees Retirement Association (SCERA) covered by this Section 26.2 shall contribute an additional one and one third percent (1.3%) for a total of 2.8% of any compensation required to be made to their employee retirement account as a contribution towards one half of the total normal cost (“total normal cost” includes both employer and member shares). The additional contribution shall be deducted from the employees’ compensation pretax and they shall become part of the accumulated retirement contributions of the employee. Employees covered by this section 26.2.4.(b) shall receive a lump sum benefit allowance each pay period as a reimbursement for the cost share arrangement, equal to the dollar value of the deduction described in this paragraph less any required taxes. c. The lump sum benefit allowance described in Sections 26.2.4 (a) and (b) will not be included in wages for computations of overtime,
Sample 1
Employee Cost Share – 50% of Normal Cost a. Effective the first full pay period following July 1, 2016, and subject to Sonoma County Employees Retirement Association (SCERA) Board approval of the cost share arrangement under the terms described herein, active County General legacy members of SCERA will contribute one third of the actuarially determined difference between the average General legacy employee retirement rate (exclusive of the 3.03% payroll contribution toward the UAAL described in Section 11.6.3 of the MOU) and one half the total normal cost (“total normal cost” includes both employer and member shares) calculated as an average for General legacy Members of the Sonoma County Employees Retirement Association (SCERA) covered by this Section
Sample 1

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