Employee Sharing Additional Cost Sample Clauses

Employee Sharing Additional Cost. The County of Yuba and YCEA have previously negotiated a contract which includes Classic and PEPRA New employees paying an additional portion of the employer’s share of pension cost beginning in the 2015/2016 Fiscal Year that will continue as follows: YCEA MISC Classic and PEPRA New Members agreed to pay an additional 1.194% toward the Employer Contribution, with the YCEA MISC Classic Members total employee contribution of 8.194%; the YCEA MISC PEPRA New Members total employee contribution of 7.444%. This agreement will again amend the County’s local MISC Members’ contract under Section 20516 for local MISC Classic and PEPRA New Members in the YCEA as follows: Effective July 1, 2018, or as soon thereafter as the CalPERS retirement contract can be amended, the CalPERS Employer Pension Contribution will be:  YCEA MISC Classic Members agree to pay an additional .403% toward the Employer Contribution.  YCEA MISC PEPRA NEW Members agree to pay an additional .403% toward the Employer Contribution. This CalPERS retirement contract amendment will result in the following changes to the employee contribution rate effective July 1, 2018:  YCEA MISC Classic Members employee contribution 8.597%  YCEA MISC PEPRA New Members employee contribution 7.843% Effective July 1, 2019, or as soon thereafter as the CalPERS retirement contract can be amended, the CalPERS Employer Pension Contribution will be:  YCEA MISC Classic Members agree to pay an additional .403% toward the Employer Contribution.  YCEA MISC PEPRA NEW Members agree to pay an additional .403% toward the Employer Contribution. This CalPERS retirement contract amendment will result in the following changes to the employee contribution rate effective July 1, 2019:  YCEA MISC Classic Members employee contribution 9%  YCEA MISC PEPRA New Members employee contribution 8.25%
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Employee Sharing Additional Cost. The County of Yuba and DSA negotiated a contract which included Classic Member employees paying a portion of the employer’s share of pension cost beginning in the 2017/2018 Fiscal Year. This agreement amended the County’s Safety and MISC members contract to provide Section 20516 for Safety and MISC members in the DSA effective July 1, 2017. . Effective July 1, 2017the CalPERS retirement contract was amended; the CalPERS Employer Pension Contribution was amended as follows: • DSA Safety Classic Members agree to pay an additional 1.5% toward the employer Contribution. • DSA Miscellaneous Classic Members agree to pay an additional .5% toward the employer Contribution. Effective July 1, 2018 the CalPERS retirement contract was amended; the CalPERS Employer Pension Contribution was amended as follows: • DSA Safety Classic Members agree to pay an additional 1.5% toward the employer Contribution. • DSA Miscellaneous Classic Members agree to pay an additional .5% toward the employer Contribution. The CalPERS retirement contract amendment resulted in the following changes to the employee contribution rate: Effective July 1, 2017: • DSA Safety Classic Members employee contribution 10.5%. • DSA Miscellaneous Classic Members employee contribution 7.5% Effective July 1, 2018: • DSA Safety Classic Members employee contribution 12%. DSA MOU 08/01/19 – 06/30/22 | ARTICLE 29RETIREMENT 64 • DSA Miscellaneous Classic Members employee contribution 8%.
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Related to Employee Sharing Additional Cost

  • How Do I Correct an Excess Contribution? If you make a contribution in excess of your allowable maximum, you may correct the excess contribution and avoid the 6% penalty tax for that year by withdrawing the excess contribution and its earnings on or before the date, including extensions, for filing your tax return for the tax year for which the contribution was made (generally October 15th). Any earnings on the withdrawn excess contribution may also be subject to the 10% early distribution penalty tax if you are under age 59½. In addition, although you will still owe penalty taxes for one or more years, excess contributions may be withdrawn after the time for filing your tax return. Excess contributions for one year may be carried forward and applied against the contribution limitation in succeeding years. An individual who is partially or entirely ineligible to make contributions to a Xxxx XXX may transfer amounts of up to the yearly contribution limits to a non-deductible Traditional IRA (subject to reduction for amounts remaining in the Xxxx XXX plus other Traditional IRA contributions).

  • Can I Roll Over or Transfer Amounts from Other IRAs or Employer Plans If properly executed, you are allowed to roll over a distribution from one Traditional IRA to another without tax penalty. Rollovers between Traditional IRAs may be made once every 12 months and must be accomplished within 60 days after the distribution. Beginning in 2015, just one 60 day rollover is allowed in any 12 month period, inclusive of all Traditional, Xxxx, SEP, and SIMPLE IRAs owned. Under certain conditions, you may roll over (tax-free) all or a portion of a distribution received from a qualified plan or tax-sheltered annuity in which you participate or in which your deceased spouse participated. In addition, you may also make a rollover contribution to your Traditional IRA from a qualified deferred compensation arrangement. Amounts from a Xxxx XXX may not be rolled over into a Traditional IRA. If you have a 401(k), Xxxx 401(k) or Xxxx 403(b) and you wish to rollover the assets into an IRA you must roll any designated Xxxx assets, or after tax assets, to a Xxxx XXX and roll the remaining plan assets to a Traditional IRA. In the event of your death, the designated beneficiary of your 401(k) Plan may have the opportunity to rollover proceeds from that Plan into a Beneficiary IRA account. In general, strict limitations apply to rollovers, and you should seek competent advice in order to comply with all of the rules governing rollovers. Most distributions from qualified retirement plans will be subject to a 20% withholding requirement. The 20% withholding can be avoided by electing a “direct rollover” of the distribution to a Traditional IRA or to certain other types of retirement plans. You should receive more information regarding these withholding rules and whether your distribution can be transferred to a Traditional IRA from the plan administrator prior to receiving your distribution.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who:

  • Beneficiary Rollovers from Employer-Sponsored Retirement Plans If you are a spouse Beneficiary, nonspouse Beneficiary, or the trustee of an eligible type of trust named as Beneficiary of a deceased employer plan participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan to an inherited IRA. The IRA must be maintained as an inherited IRA, subject to the beneficiary distribution requirements.

  • Other Group Benefits 7.4.1 Payments towards benefit plans by the Employer shall permit it to retain and not pass on to teachers, any rebates of premiums otherwise required under Canada Employment and Immigration Commission (previously Unemployment Insurance Commission) regulations.

  • What if I Make a Contribution for Which I Am Ineligible or Change My Mind About the Type of IRA to Which I Wish to Contribute? Prior to the due date (including extensions) for filing your tax return, you may elect to “recharacterize” amounts that you contributed to an IRA during the year by making a recharacterization of the contributed amount and earnings. Thus, for example, if you contribute amounts to a Xxxx XXX and later determine that you are ineligible to make a Xxxx XXX contribution for the year, you may at any time prior to the tax return due date for the year (including extensions) make a recharacterization of the contributions and earnings to a Traditional IRA.

  • Non-Retirement Savings Accounts An account maintained in the Cayman Islands (other than an insurance or Annuity Contract) that satisfies the following requirements under the laws of the Cayman Islands.

  • Sick Leave Days Payable at 100% Wages Permanent Employees Subject to paragraphs d), e) and f) below, Employees will be allocated eleven (11) sick days payable at one hundred percent (100%) of wages on the first day of each fiscal year, or the first day of employment.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Same Sex Benefit Coverage An employee who co-habits with a person of the same sex, and who promotes such person as a "spouse" (partner), and who has done so for a period of not less than twelve (12) months, will be eligible to have the person covered as a spouse for purposes of Medical, Extended Health, and Dental benefits.

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