Member Contribution to PERS Retirement Plan. New Members “New members” as defined by Public Employees’ Pension Reform Act (PEPRA) shall be members in the PERS on terms consistent with the PEPRA. New members shall qualify for the 2% at 62 benefit formula, shall contribute fifty percent (50%) of the total normal cost as required by PEPRA, and retirement shall be based upon the highest thirty-six (36) consecutive months of compensation.
Appears in 7 contracts
Samples: Agreement, www.cityofsacramento.org, www.cityofsacramento.org
Member Contribution to PERS Retirement Plan. New Members “New members” as defined by Public Employees’ Pension Reform Act (PEPRA) shall be members in the PERS on terms consistent with the PEPRA. New members shall qualify for the 2% at 62 benefit formula, shall contribute fifty percent (50%) of the total normal cost as required by PEPRAXXXXX, and retirement shall be based upon the highest thirty-six (36) consecutive months of compensation.
Appears in 7 contracts
Samples: Agreement, www.cityofsacramento.gov, Agreement
