Common use of First Tier Eligibility For Employees In Second Tier Clause in Contracts

First Tier Eligibility For Employees In Second Tier. A. New employees who meet the criteria for CalPERS membership are enrolled in the First Tier plan and have the right to be covered under the Second Tier plan within 180 days of the date of their appointment. If a new employee does not make an election for Second Tier coverage during this period, he or she would remain in the First Tier plan. B. An employee in the Second Tier may exercise the Tier 1 right of election at any time. C. An employee who makes this election is eligible to purchase past Second Tier service. The parties will work with CalPERS to establish more flexible purchase provisions for employees. These include, but are not limited to, increasing the installment period from 96 months (8 years) to 144 months (12 years) or up to 180 months (15 years), and allowing employees to purchase partial amounts of service. D. Employees who purchase their past service are required to pay the amount of contributions they would have paid had they been First Tier members during the period of service that they are purchasing. As required by CalPERS law, the amount includes interest at six percent (6%), annually compounded.

First Tier Eligibility For Employees In Second Tier. A. New employees who meet the criteria for CalPERS membership are enrolled in the First Tier plan and have the right to be covered converted under the Second First Tier plan Plan within 180 one hundred eighty (180) days of the date of their appointment. If a new employee does not make an election for Second Tier coverage during this period, he or she would remain will be enrolled in the First Tier plan. B. An employee in the Second Tier may exercise the Tier 1 right of election at any time. C. . An employee who makes this election is eligible to purchase past Second Tier service. The parties will work with CalPERS to establish more flexible purchase provisions for employees. These include, but are not limited to, increasing the installment period from 96 ninety-six (96) months (8 years) to 144 one hundred forty-four (144) months (12 years) or up to 180 one hundred eighty (180) months (15 years), and allowing employees to purchase partial amounts of service. D. C. Employees who purchase their past service are required to pay the amount of contributions contribution they would have paid had they been First Tier members during the period of service that they are purchasing. As required by CalPERS law, the amount includes interest at a six percent (6%), annually compounded.

First Tier Eligibility For Employees In Second Tier. A. New employees who meet the criteria for CalPERS membership are enrolled in the First Tier plan and have the right to be covered under the Second Tier plan within 180 one hundred eighty (180) days of the date of their appointment. If a new employee does not make an election for Second Tier coverage during this period, he or she would remain in the First Tier plan. B. An employee in the Second Tier may exercise the elect Tier 1 right of election at any time. C. . An employee who makes this election is eligible to purchase past Second Tier serviceService. The parties will work with CalPERS to establish more flexible purchase provisions for employees. These include, but are not limited to, increasing the installment period from 96 months (8 years) to 144 months (12 years) or up to 180 months (15 years), ) and allowing employees to purchase partial amounts of service. D. C. Employees who purchase their past service are required to pay the amount of contributions they would have paid had they been First Tier members during the period of service that they are purchasing. As required by CalPERS law, the amount includes include interest at six percent (6%)6 percent, annually compounded.