New Members’ Pension Contributions Sample Clauses

New Members’ Pension Contributions. Effective November 6, 2016, in addition to the contributions in Section 59.6, New Members will contribute eight percent (8.0%) towards the City’s CalPERS employer share of pension through a 20516 CalPERS amendment that allows such contributions as pre-tax via automatic payroll deduction, in exchange for the City granting the salary increase set forth in Section 13.1.5 (CalPERS Salary Exchange) of this MOU. Such employee deductions by the City shall be used towards the City’s CalPERS required contributions.
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New Members’ Pension Contributions. New Members hired on or after January 1, 2013 shall pay 50% of the normal share of cost required by PEPRA.
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New Members’ Pension Contributions. ‌ New Members hired on or after January 1, 2013, shall pay 50% of the normal share of cost required by PEPRA. The City and Association agree that, effective January 1, 2016, employees will pay an additional 1% contribution to the City’s CalPERS employer contribution rate via automatic payroll deduction. Effective July 1, 2016, employees will pay an additional 1% contribution to the City’s CalPERS employer contribution rate via automatic payroll deduction. The City shall designate such payments to the City’s CalPERS employer contribution rate as an Employer Pickup as defined by Section 414(h)(2) of the Internal Revenue Code.
Sample 1
New Members’ Pension Contributions. ‌ New Members hired on or after January 1, 2013 shall pay 50% of the normal share of cost required by XXXXX. Effective January 1, 2015, New Members shall also contribute an additional one percent (1%) of pensionable compensation (in addition to contributing 50% of the normal cost) towards the City’s CalPERS employer contribution through automatic payroll deduction on a pre-tax basis. The City and Association agree that, effective 1st pay period after Council approval of this MOU, employees will pay an additional one percent (1%) to the City’s CalPERS employer contribution rate via automatic payroll deduction.
Sample 1
New Members’ Pension Contributions. New Members hired on or after January 1, 2013, shall pay 50% of the normal share of cost required by PEPRA. The City and Association agree that, effective January 1, 2016, employees will pay an additional 1% contribution to the City’s CalPERS employer contribution rate via automatic payroll deduction. Effective July 1, 2016, employees will pay an additional 1% contribution to the City’s CalPERS employer contribution rate via automatic payroll deduction. The City shall designate such payments to the City’s CalPERS employer contribution rate as an Employer Pickup as defined by Section 414(h)(2) of the Internal Revenue Code. 2021 - 2023 Memorandum of Understanding City of Berkeley Berkeley Police Association
Sample 1
New Members’ Pension Contributions. New Members hired on or after January 1, 2013 shall pay 50% of the normal share of cost required by XXXXX. Effective January 1, 2015, New Members shall also contribute an additional one percent (1%) of pensionable compensation (in addition to contributing 50% of the normal cost) toward their pensions through automatic payroll deduction on a pre- tax basis.
Sample 1

Related to New Members’ Pension Contributions

  • Pension Contributions 19.2.3.1 Unless required by law to commence receiving a pension prior to the Member’s actual retirement date (i.e., currently December 31 of the year in which the Member attains age sixty-nine (69)) the Member who postponed retirement beyond his or her TRD will continue to make pension contributions.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Member Contributions With respect to benefits accrued under the Retirement System on or after January 1, 2021, members shall be required to make the following rates of member contributions to the Retirement System:

  • Annual Contributions □ Check enclosed in the amount of $ representing current contribution for tax year 20 . This contribution does not exceed the maximum permitted amount for the year of contribution as described in the Xxxx XXX Disclosure Statement. If no tax year is indicated, contribution will automatically apply to current year.

  • Initial Contributions The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Contributions for OTPP Plan Members i. When an employee/plan member is on short term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OTPP contributions based on 100% of the employee/plan member’s regular pay.

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