Employee Pension Changes Sample Clauses

Employee Pension Changes. 7.2.1 For subsequent years of the Agreement, any increases in pension contribution rates shall be split equally (50/50) by the parties for Tier 1, Tier 2 and Tier 3, as adopted by the Board of Supervisors after receipt of actuarial data. Any resulting pension contribution rate increase shall be implemented during the pay period including January 1 or July 1 during the year of the increase as determined by the County.
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Employee Pension Changes. ‌ For subsequent years of the Agreement, any increases in pension contribution rates shall be split equally (50/50) by the parties for Tier 1, Tier 2 and Tier 3, as adopted by the Board of Supervisors after receipt of actuarial data. Any resulting pension contribution rate increase shall be implemented during the pay period including January 1 or July 1 during the year of the increase as determined by the County. For the term of this Agreement only, the following provisions shall apply regarding employee contributions: Effective the pay period including January 1, 2020 employees shall receive a pension equity adjustment of 3%, resulting in a net 3% reduction of the employee contribution rate. Employees’ pension contribution shall not increase for the year 2020. For Years 2021 and 2022, the parties shall share any pension contribution rate increase 50/50, except that employees’ 50% share of the increases shall not exceed 1%. To ensure compliance with PEPRA, the parties agree that the County will monitor the pension contribution rate for Tier 3 (PEPRA) members to ensure that the provisions of this section do not result in the Tier 3 contribution rate falling below 50% of normal costs based upon actuarial data. If the provision of this section would cause the Tier 3 member to contribution rate to fall below 50% of normal costs, the contribution rate shall be adjusted so that Tier 3 members will pay at a minimum 50% of the normal cost rate, and the parties agree to meet and confer in order to address the impact of pension changes for Tier 3 members only.
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Employee Pension Changes. Any increases in pension costs shall be split equally (50/50) by the parties for Tier 1, Tier 2, and Tier 3, as adopted by the Board of Supervisors after receipt of actuarial data. For the term of this Agreement only, unit members’ fifty percent (50%) share of any pension increases shall not exceed a total of 3.5%. Any increase above the aforementioned 3.5% shall be included in determining the employee share of pension increases in subsequent years.
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Related to Employee Pension Changes

  • ERISA The Employee Retirement Income Security Act of 1974, as amended.

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan:

  • Employee Performance Review When a formal review of an employee’s performance is made, the employee concerned shall be given an opportunity to discuss, sign and make written comments on the review form in question and the employee is to receive a signed copy to indicate that its contents have been read. An employee shall be entitled to a minimum of two (2) work days to review the performance review prior to providing any response to the Employer, verbally or in writing, with respect to the evaluation.

  • Pension Plan 15.01 The CLAC Pension Plan (“the Plan”), a defined contribution pension plan, is registered with the Canada Revenue Agency. The Plan applies to all employees covered by this Agreement.

  • Benefit Plan If an employee maintains coverage for benefit plans while on maternity or parental leave, the Employer agrees to pay the Employer's share of these premiums.

  • Employee Personnel File A copy of any formal discipline report to be entered on an employee's file will be given to the employee. The employee will be required to sign Management's copy. Such signature will indicate receipt of formal reprimand only. Subject to giving the Employer advance notice, employees shall have access to their personnel file as soon as practicable within seven (7) days of a request.

  • Employee Plans Except as provided in Section 4.12, the Assuming Institution shall have no liabilities, obligations or responsibilities under the Failed Bank's health care, bonus, vacation, pension, profit sharing, deferred compensation, 401K or stock purchase plans or similar plans, if any, unless the Receiver and the Assuming Institution agree otherwise subsequent to the date of this Agreement.

  • Canada Pension Plan All employees shall participate in and contribute to the Canada Pension Plan in accordance with the applicable legislation. The College will contribute to the plan for each employee, to the extent provided for in the applicable legislation.

  • Employee Parking 29 (1) The County will eliminate any charge for parking to employees using County-owned or 30 controlled parking lots, except the Courthouse Annex and Safety Building Garage. The 31 County shall make every reasonable effort to secure such lots against theft and vandalism in a 32 manner consistent with location and type of facility.

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