Common use of Employee Pension Changes Clause in Contracts

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.

Employee Pension Changes. 7.2.1 For subsequent years of the Agreement, any Any increases in pension contribution rates costs shall be split equally (50/50) by the parties for Tier 1, Tier 2 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 For the pay period including January 1 or July 1 during term of this Agreement only, the year of the increase as determined by the County.following provisions will apply regarding employee contributions: