Employees with Reciprocity Clause Samples
Employees with Reciprocity. Employees hired on or after January 1, 2013, who had service under another CalPERS agency or public retirement system with reciprocity prior to January 1, 2013, and a break in service of less than 6 months and consider legacy employees by PERS AB 340, shall be subject to the PERS pension formula of 3@50 with only the optional pension enhancements and the other provisions of the retirement tier they were hired under. Employees shall pay the employee’s statutory employee’s contribution for these benefits of 9%
Employees with Reciprocity. Employees hired on or after December 29, 2012, who had service City of Stockton and Stockton City Employees’ Association Memorandum of Understanding 2023 - 2026 44 under another CalPERS agency or public retirement system with reciprocity prior to January 1, 2013, and a break in service of less than six (6) months and considered classic employees by PERS AB 340, will be subject to the PERS pension formula of two percent (2%) at sixty (60) with no optional pension enhancements and the other provisions of the retirement tier they were hired under. Employees will pay the entire employee contribution of seven (7%) percent to the California Public Employees Retirement System (CalPERS).