Common use of Employee Retirement Contribution Reduction for Miscellaneous Members Clause in Contracts

Employee Retirement Contribution Reduction for Miscellaneous Members. Effective August 31, 2001, the State agrees to the following: • Employees who are miscellaneous and/or industrial members of the first tier plan who are subject to Social Security under the Public Employees' Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 5% of compensation in excess of five hundred thirteen ($513) dollars each month to 2.5% of compensation in excess of five hundred thirteen ($513) dollars each month. • Employees who are miscellaneous and/or industrial members of the first tier plan who are not subject to Social Security under the Public Employees' Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 6% of compensation in excess of three hundred seventeen ($317) dollars each month to 3.5% of compensation in excess of three hundred seventeen ($317) dollars each month. Effective July 1, 2002, the State agrees to the following: • Employees who are miscellaneous and/or industrial members of the first tier plan who are subject to Social Security under the Public Employees' Retirement System (CalPERS) shall have their employee retirement contribution rate reduced to zero. • Employees who are miscellaneous and/or industrial members of the first tier plan who are not subject to Social Security under the Public Employees' Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 3.5% of compensation in excess of three hundred seventeen ($317) dollars each month to 1.0% of compensation in excess of three hundred seventeen ($317) dollars each month. Effective July 1, 2003, the employee’s retirement contribution rate shall be restored to levels in effect on August 30, 2001. The State employer will continue to ensure that pension benefits are properly funded in accordance with generally accepted actuarial practices. In accordance with the provisions of the June 20, 2001 communication to DPA from CalPERS’ Actuarial & Employer Services Division, effective July 1, 2003, the State Employer’s CalPERS retirement contribution rate shall incorporate the impact resulting from the temporary reduction in the employee retirement contribution rate. As indicated in the above referenced letter, “10% of the net unamortized actuarial loss shall be amortized each year”. However, if the CalPERS Board of Administration alters the amortization schedule referenced above in a manner that accelerates the employer payment obligation, either party to this agreement may declare this section of the MOU and all obligations set forth herein, to be null and void. In the event this agreement becomes null and void, the employee retirement contribution rate shall be restored to levels in effect on August 30, 2001 and the parties shall be obligated to immediately meet and confer in good faith to discuss alternative provisions.

Employee Retirement Contribution Reduction for Miscellaneous Members. Effective August 31, 2001, the State agrees to the following: • : A. Employees who are miscellaneous and/or industrial members of the first tier plan who are subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 5% of compensation in excess of five hundred thirteen ($513) dollars each month to 2.5% of compensation in excess of five hundred thirteen ($513) dollars each month. • 93 BU 16 B. Employees who are miscellaneous and/or industrial members of the first tier plan who are not subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 6% of compensation in excess of three hundred seventeen ($317) dollars each month to 3.5% of compensation in excess of three hundred seventeen ($317) dollars each month. Effective July 1, 2002, the State agrees to the following: • : C. Employees who are miscellaneous and/or industrial members of the first tier plan who are subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) shall have their employee retirement contribution rate reduced to zero. • . D. Employees who are miscellaneous and/or industrial members of the first tier plan who are not subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 3.5% of compensation in excess of three hundred seventeen ($317) dollars each month to 1.0% of compensation in excess of three hundred seventeen ($317) dollars each month). Effective July 1, 2003, the employee’s retirement contribution rate shall be restored to levels in effect on August 30, 2001. . E. The State employer will continue to ensure that pension benefits are properly funded in accordance with generally accepted actuarial practices. In accordance with the provisions of the June 20, 2001 communication to DPA from CalPERS’ Actuarial & Employer Services Division, effective July 1, 2003, the State Employer’s CalPERS retirement contribution rate shall incorporate the impact resulting from the temporary reduction in the employee retirement contribution rate. As indicated in the above referenced letter, “10% of the net unamortized actuarial loss shall be amortized each year”. However, if the CalPERS Board of Administration alters the amortization schedule referenced above in a manner that accelerates the employer payment obligation, either party to this agreement may declare this section of the MOU MOU, and all obligations set forth herein, to be null and void. In the event this agreement becomes null and void, the employee retirement contribution rate shall be restored to levels in effect on August 30, 2001 and the parties shall be obligated to immediately meet and confer in good faith to discuss alternative provisions. This management proposal shall be deemed withdrawn if not accepted by all parties and ratified before the current legislative session adjourns.

Employee Retirement Contribution Reduction for Miscellaneous Members. Effective August 31, 2001, the State agrees to the following: • Employees who are miscellaneous and/or industrial members of the first tier plan who are subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 5% of compensation in excess of five hundred thirteen ($513) dollars each month to 2.5% of compensation in excess of five hundred thirteen ($513) dollars each month. • Employees who are miscellaneous and/or industrial members of the first tier plan who are not subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 6% of compensation in excess of three hundred seventeen ($317) dollars each month to 3.5% of compensation in excess of three hundred seventeen ($317) dollars each month. Effective July 1, 2002, the State agrees to the following: • Employees who are miscellaneous and/or industrial members of the first tier plan who are subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) shall have their employee retirement contribution rate reduced to zero. • Employees who are miscellaneous and/or industrial members of the first tier plan who are not subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 3.5% of compensation in excess of three hundred seventeen ($317) dollars each month to 1.0% of compensation in excess of three hundred seventeen ($317) dollars each month). Effective July 1, 2003, the employee’s retirement contribution rate shall be restored to levels in effect on August 30, 2001. The State employer will continue to ensure that pension benefits are properly funded in accordance with generally accepted actuarial practices. In accordance with the provisions of the June 20, 2001 communication to DPA from CalPERS’ Actuarial & Employer Services Division, effective July 1, 2003, the State Employer’s CalPERS retirement contribution rate shall incorporate the impact resulting from the temporary reduction in the employee retirement contribution rate. As indicated in the above referenced letter, “10% of the net unamortized actuarial loss shall be amortized each 60 BU 10 (01-03) year”. However, if the CalPERS Board of Administration alters the amortization schedule referenced above in a manner that accelerates the employer payment obligation, either party to this agreement may declare this section of the MOU MOU, and all obligations set forth herein, to be null and void. In the event this agreement becomes null and void, the employee retirement contribution rate shall be restored to levels in effect on August 30, 2001 and the parties shall be obligated to immediately meet and confer in good faith to discuss alternative provisions.

Employee Retirement Contribution Reduction for Miscellaneous Members. Effective August 31, 2001no later than the pay period following legislative ratification of this collective bargaining agreement, the State agrees to the following: • Employees who are miscellaneous and/or industrial members of the first tier plan who are subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from five percent (5% %) of compensation in excess of five hundred thirteen ($513) dollars each month to 2.5% of compensation in excess of five hundred thirteen ($513) dollars each month. • Employees who are miscellaneous and/or industrial members of the first tier plan who are not subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from six percent (6% %) of compensation in excess of three hundred seventeen ($317) dollars each month to 3.5% of compensation in excess of three hundred seventeen ($317) dollars each month. Effective July 1, 2003, the employees’ retirement contribution rate shall be restored to levels in effect on August 30, 2001. Effective July 1, 2002, the State agrees to the following: • Employees who are miscellaneous and/or industrial members of the first tier plan who are subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) shall have their employee retirement contribution rate reduced to zerozero percent (0%). • Employees who are miscellaneous and/or industrial members of the first tier plan who are not subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 3.5% of compensation in excess of three hundred seventeen ($317) dollars each month to 1.0% one percent (1%) of compensation in excess of three hundred seventeen ($317) dollars each month. Effective July 1, 2003, the employee’s retirement contribution rate shall be restored to levels in effect on August 30, 2001. The State employer will continue to ensure that pension benefits are properly funded in accordance with generally accepted actuarial practices. In accordance with the provisions of the June 20, 2001 communication to DPA from CalPERS’ Actuarial & Employer Services Division, effective . Effective July 1, 2003, the State Employer’s CalPERS retirement contribution rate shall incorporate the impact resulting from the temporary reduction in the employee retirement contribution rate. As indicated in the above referenced letter, “10% of the net unamortized actuarial loss shall be amortized each year”. However, if the CalPERS Board of Administration alters the amortization schedule referenced above in a manner that accelerates the employer payment obligation, either party to this agreement may declare this section of the MOU MOU, and all obligations set forth herein, to be null and void. In the event this agreement becomes null and void, the employee retirement contribution rate shall be restored to levels in effect on August 30, 2001 and the parties shall be obligated to immediately meet and confer in good faith to discuss alternative provisions.

Employee Retirement Contribution Reduction for Miscellaneous Members. If the Board of Administration of the California Public Employees Retirement System (CalPERS) informs the parties in writing that it has determined that the recent temporary arrangement whereby state employees were relieved of paying into their retirement fund may be extended for 12 months and that such an extension would be fiduciarily sound and meet the Board’s established actuarial standards, which in turn provide temporary cash flow relief to the State, the parties will agree to the following: 1. Effective August 31, 2001the first of the pay period following approval by the CalPERS Board and ratification of the legislature and continuing for 12 monthly pay periods thereafter, the State agrees to the following: • Employees who are miscellaneous and/or industrial members of the first tier plan plan, and who are subject to Social Security under the Public Employees' Employee’s Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 5% of compensation in excess of five hundred thirteen ($513) dollars each month to 2.5% of compensation in excess of five hundred thirteen ($513) dollars each month. • Employees who are miscellaneous and/or industrial members of the first tier plan who are not subject to Social Security under the Public Employees' Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 6% of compensation in excess of three hundred seventeen ($317) dollars each month to 3.5% of compensation in excess of three hundred seventeen ($317) dollars each month. Effective July 1), 2002, the State agrees to the following: • Employees who are miscellaneous and/or industrial members of the first tier plan who are subject to Social Security under the Public Employees' Retirement System (CalPERS) shall have their employee retirement contribution rate reduced to zero. • Employees who are miscellaneous and/or industrial members of the first tier plan plan, and who are not subject to Social Security under the Public Employees' Empoyees’ Retirement System (CalPERS) ), shall have their employee retirement contribution rate reduced from 3.56% of compensation in excess of three hundred seventeen ($317) dollars each month to 1.0% of compensation in excess of three hundred seventeen ($317) dollars each month. 2. Effective July 1, 2003After 12 months, the employee’s employees’ retirement contribution rate shall be restored to levels in effect on August 30, 2001. 3. The State employer will continue to ensure that pension benefits are properly funded in accordance with generally accepted actuarial practices. In accordance with the provisions of the June 20, 2001 2001, communication to DPA from CalPERS’ Actuarial & Employer Services Division, effective July 1, 2003the date referenced in paragraph 1 above, the State Employer’s CalPERS retirement contribution rate shall incorporate the impact resulting from the temporary reduction in the employee retirement contribution rate. As indicated in the above referenced letter, “10% of the net unamortized actuarial loss shall be amortized each year”. However, if the CalPERS Board of Administration alters the amortization schedule referenced above in a manner that accelerates the employer payment obligation, either party to this agreement may declare this section of the MOU Contract, and all obligations set forth herein, to be null and void. In the event this agreement Contract becomes null and void, the employee retirement contribution rate shall be restored to levels in effect on August 30, 2001 2001, and the parties shall be obligated to immediately meet and confer in good faith to discuss alternative provisions.

Employee Retirement Contribution Reduction for Miscellaneous Members. If the Board of Administration of the California Public Employees Retirement Systems (CalPERS) informs the parties in writing that it has determined that the recent temporary arrangement whereby state employees were relieved of paying into their retirement fund may be extended for 12 months and that such an extension would be fiduciarily sound and meet the Board’s established actuarial standards, which in turn provides temporary cash flow relief to the State, the parties will agree to the following: 1. Effective August 31, 2001the first of the pay period following approval by the CalPERS Board and ratification of the Legislature and continuing for 12 monthly pay periods thereafter, the State agrees to the following: • Employees who are miscellaneous and/or industrial members of the first tier plan plan, and who are subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) ), shall have their employee retirement contribution rate reduced from 5% of compensation in excess of five hundred thirteen ($513) dollars each month to 2.5% of compensation in excess of five hundred thirteen ($513) dollars each monthzero. • Employees who are miscellaneous and/or industrial members of the first tier plan plan, and who are not subject to Social Security under the Public Employees' ’ Retirement System (CalPERS) ), shall have their employee retirement contribution rate reduced from 6% of compensation in excess of three hundred seventeen ($317) dollars each month to 3.5% of compensation in excess of three hundred seventeen ($317) dollars each month. Effective July 1, 2002, the State agrees to the following: • Employees who are miscellaneous and/or industrial members of the first tier plan who are subject to Social Security under the Public Employees' Retirement System (CalPERS) shall have their employee retirement contribution rate reduced to zero. • Employees who are miscellaneous and/or industrial members of the first tier plan who are not subject to Social Security under the Public Employees' Retirement System (CalPERS) shall have their employee retirement contribution rate reduced from 3.5% of compensation in excess of three hundred seventeen ($317) dollars each month to 1.0% of compensation in excess of three hundred seventeen ($317) dollars each month. 2. Effective July 1, 2003After 12 months, the employee’s retirement contribution rate shall be restored to levels in effect on August 30, 2001. 3. The State employer will continue to ensure that pension benefits are properly funded in accordance with generally accepted actuarial practices. In accordance with the provisions of the June 20, 2001 communication to DPA from CalPERS’ Actuarial & Employer Services Division, effective July 1, 2003the date referenced in paragraph 1 above, the State Employer’s Employers’ CalPERS retirement contribution rate shall incorporate the impact resulting from the temporary reduction in the employee retirement contribution rate. As indicated in the above referenced letter, . “10% of the net unamortized actuarial loss shall be amortized each year”. .” However, if the CalPERS Board of Administration alters the amortization schedule referenced above in a manner that accelerates the employer payment obligation, either party to this agreement may declare this section of the MOU Contract, and all obligations set forth herein, to be null and void. In the event this agreement Contract becomes null and void, the employee retirement contribution rate shall be restored to levels in effect on August 30, 2001 2001, and the parties shall be obligated to immediately meet and confer in good faith to discuss alternative provisions.