Common use of New Members’ Pension Contributions Clause in Contracts

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. 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.

New Members’ Pension Contributions. New Members hired on or after January 1, 2013 2013, shall pay 50% of the normal share of cost required by PEPRA. 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 Employees will pay an additional one percent (1%) % contribution to the City’s CalPERS employer contribution rate via automatic payroll deduction. 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.

New Members’ Pension Contributions. New Members hired on or after January 1, 2013 shall pay 50% of the normal share of cost required by PEPRAXXXXX. 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.

New Members’ Pension Contributions. ‌ New Members hired on or after January 1, 2013 shall pay 50% of the normal share of cost required by PEPRAXXXXX. 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.