Common use of Employer Paid Retirement Clause in Contracts

Employer Paid Retirement. The Xxxxxx City School District agrees to pay the current cost of the employee's contribution to the Public Employees Retirement System. 1. When increases to the PERS Contribution Rate affecting teachers occur, the appropriate condition will begin on the effective date set by PERS of the retirement contribution rate increase: a. When teachers are not receiving a pay increase, the Licensed Salary Schedule will be reduced by one-half the amount of the change to the PERS Contribution Rate NRS 286.421 (3). b. When teachers are to receive a pay increase equivalent to one-half the amount of change to the PERS Contribution Rate there will be no change to the Licensed Salary Schedule. c. When teachers are receiving a pay increase greater than one-half of the difference in the increase of the PERS Contribution Rate, the pay increase will be reduced by the one-half difference in the PERS Contribution Rate Increase. 2. When reductions to the PERS Contribution Rate affecting teachers occur, the appropriate condition will begin on the effective date set by PERS of the retirement contribution rate reduction: a. When teachers are not receiving a pay increase, the Licensed Salary Schedule will be increased by one-half the amount of the change to the PERS Contribution Rate. b. When teachers are to receive a pay increase equivalent to the one-half in reduction of the PERS Contribution Rate, the Licensed Salary Schedule will be increased by the one-half equivalent pay increase and by one-half the amount of the reduction to the PERS Contribution Rate. c. When teachers are receiving a pay increase greater than one-half of the difference in the reduction of the PERS Contribution Rate, the pay increase will be increased by that one-half reduction in the PERS Contribution Rate, and by any additional negotiated pay increase. Any impact on the salary schedules will be implemented following completion of contract negotiations.

Employer Paid Retirement. The Xxxxxx City School District agrees to pay the current cost of the employee's contribution to the Public Employees Retirement System. 1. When increases to the PERS Contribution Rate affecting teachers occur, the appropriate condition will begin on the effective date set by PERS of the retirement contribution rate increase: a. When teachers are not receiving a pay increase, the Licensed Salary Schedule will be reduced by one-half the amount of the change to the PERS Contribution Rate as dictated by NRS 286.421 (3). b. When teachers are to receive a pay increase equivalent to one-half the amount of change to the PERS Contribution Rate there will be no change to the Licensed Salary Schedule. c. When teachers are receiving a pay increase greater than one-half of the difference in the increase of the PERS Contribution Rate, the pay increase will be reduced by the one-half difference in the PERS Contribution Rate Increase. 2. When reductions to the PERS Contribution Rate affecting teachers occur, the appropriate condition will begin on the effective date set by PERS of the retirement contribution rate reduction: a. When teachers are not receiving a pay increase, the Licensed Salary Schedule will be increased by one-half the amount of the change to the PERS Contribution Rate. b. When teachers are to receive a pay increase equivalent to the one-half in reduction of the PERS Contribution Rate, the Licensed Salary Schedule will be increased by the one-half equivalent pay increase and by one-half the amount of the reduction to the PERS Contribution Rate. c. When teachers are receiving a pay increase greater than one-half of the difference in the reduction of the PERS Contribution Rate, the pay increase will be increased by that one-half reduction in the PERS Contribution Rate, and by any additional negotiated pay increase. Any impact on the salary schedules will be implemented following completion of contract negotiations.