Common use of New Member Clause in Contracts

New Member. 1. A new member is defined as an employee who meets the definition of a “new” member for purposes of retirement pension benefits pursuant to the Public Employees Pension Reform Act of 2013. Generally, this includes employees that were hired into a regular position on or after January 1, 2013 or former members who have more than a six-month break in service. XxxXXXX ultimately determines who is a new member in compliance with the law. 2. New members shall be eligible for the 2% @ 62 Formula for Local Miscellaneous Members including integration with Social Security. 3. The employee contribution for new members shall be one-half the normal cost, as determined by XxxXXXX. As of July 2013, the required employee contribution for new members is 6.25%. This amount will be adjusted periodically by XxxXXXX.

New Member. 1. A new member is defined as an employee who meets the definition of a “new” member for purposes of retirement pension benefits pursuant to the Public Employees Pension Reform Act of 2013. Generally, this includes employees that were hired into a regular position on or after January 1, 2013 or former members who have more than a six-month break in service. XxxXXXX ultimately determines who is a new member in compliance with the law. 2. New members entering membership for the first time in a Police safety classification shall be eligible for the 22.7% @ 62 Formula at 57 retirement formula for Local Miscellaneous Members including integration with Social SecuritySafety members. 3. The employee contribution for new members shall be one-half the normal cost, as determined by XxxXXXX. As of July 2013, the required employee contribution for new members is 6.2512.75%. This amount will be adjusted periodically by XxxXXXX.

New Member. 1. A new member is defined as an employee who meets the definition of a “new” member for purposes of retirement pension benefits pursuant to the Public Employees Pension Reform Act of 2013. Generally, this includes employees that were hired into a regular position on or after January 1, 2013 2013, or former members who have more than a six-month break in service. XxxXXXX ultimately determines who is a new member in compliance with the law. 2. New members shall be eligible for the 2% @ 62 Formula for Local Miscellaneous Members including integration with Social Security. 3. The employee contribution for new members shall be one-half the normal cost, as determined by XxxXXXX. As of July 2013, the required employee contribution for new members is 6.25%. This amount will be adjusted periodically by XxxXXXX.