Common use of Employee Cost Share – 50% of Normal Cost Clause in Contracts

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.

Appears in 2 contracts

Samples: Memorandum of Understanding, Memorandum of Understanding

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Employee Cost Share – 50% of Normal Cost. a. Effective the first full pay period following March 14July 1, 20172016, each active Safety member of the Sonoma County Employees Retirement Association (SCERA) covered by this Section 26.1 12.4 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 12.4 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 12.4.4 (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.

Appears in 1 contract

Samples: Memorandum of Understanding

Employee Cost Share – 50% of Normal Cost. a. Effective the first full pay period following March 14July 1, 20172016, each active Safety member of the Sonoma County Employees Retirement Association (SCERA) covered by this Section 26.1 12.4 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.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 12.4 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.taxes.‌ c. The lump sum benefit allowance described in Sections 26.1.4 12.4.4 (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.

Appears in 1 contract

Samples: Memorandum of Understanding

Employee Cost Share – 50% of Normal Cost. a. Effective the first full pay period following March 14July 1, 20172016, each active Safety member of the and subject to Sonoma County Employees Retirement Association (SCERA) covered by this Section 26.1 shall 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 26.4.3 of the MOU) 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 ) calculated as an average for General legacy members of the accumulated retirement contributions of the employee. Sonoma County Employees Retirement Association (SCERA) covered by this section 12.4.4.(a) shall Section 26.4 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 as a reimbursement for the cost share arrangement, equal to the dollar value of the deduction described in this paragraph paragraph, less any required taxes. b. Effective the first full pay period following March 14July 1, 2017, each active Safety member of the and subject to Sonoma County Employees Retirement Association (SCERA) covered by this Section 26.1 shall Board approval of the cost share arrangement under the terms described herein, active County General legacy members of SCERA will contribute an additional one and one third percent (1.3%) for a total of 2.8% two thirds) of any compensation required to be made to their the actuarially determined difference between the average General legacy employee retirement account as a rate (exclusive of the 3.03% payroll contribution towards toward the UAAL described in Section 26.4.3 of the MOU) and 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 ) calculated as an average for General legacy Members of the accumulated retirement contributions of the employee. Sonoma County Employees Retirement Association (SCERA) covered by this section 12.4.4.(b) shall Section 26.4 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 as a reimbursement for the cost share arrangement, equal to the dollar value of the deduction described in this paragraph paragraph, less any required taxes. c. The lump sum benefit allowance described in Sections 26.1.4 26.4.4 (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.and

Appears in 1 contract

Samples: Memorandum of Understanding

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Employee Cost Share – 50% of Normal Cost. a. Effective the first full pay period following March 14July 1, 20172016, each active Safety member of the Sonoma County Employees Retirement Association (SCERA) covered by this Section 26.1 12.4 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 12.4 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 12.4.4 (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.

Appears in 1 contract

Samples: Memorandum of Understanding

Employee Cost Share – 50% of Normal Cost. a. Effective the first full pay period following March 14July 1, 20172016, each active Safety member of the Sonoma County Employees Retirement Association (SCERA) covered by this Section 26.1 12.4 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 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 12.4 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 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 12.4.4 (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 Section of the contract to meet and confer on a replacement pension cost share arrangement.

Appears in 1 contract

Samples: Memorandum of Understanding

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