Pension Cost Sharing Sample Clauses

Pension Cost Sharing. Effective the first full pay period in January 2016, employees covered by this Section 2 shall pay, through payroll deduction, the full 7.0% member contribution and an additional 1% of PERSable compensation toward the City’s required contribution for a total contribution of 8% toward the normal cost of pension benefits as permitted by Government Code Section 20516.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Pension Cost Sharing. Effective January 9, 2016, employees covered by this Section 1 shall pay, through payroll deduction, the full 7.0% member contribution and an additional 1% of PERSable compensation toward the City’s required contribution for a total contribution of 8% toward the normal cost of pension benefits as permitted by Government Code Section 20516.
Sample 1Sample 2Sample 3
Pension Cost Sharing. In addition to paying 50% of normal costs as described above, bargaining members covered by this Section shall pay, through payroll deduction, an additional 3.0% of PERSable compensation toward the City’s normal cost of pension benefits as permitted by Xxx Xxx. Code Section 20516. The parties acknowledge that CalPERS mandates an election of unit members, separate from ratification of this MOU, to provide for this cost sharing pursuant to Government Code Section 20516. As soon as practicable after the effective date of this MOU, the City will initiate the contract amendment process. Upon approval and agreement from the bargaining unit and completion of the City’s amendment to the CalPERS contract, unit member contributions will be made pursuant to Government Code Section 20516, Unit member Cost Sharing of Additional Benefits. If the contract amendment is not complete before the effective date of the cost sharing described in this Section, the cost sharing shall be implemented outside of a CalPERS contract amendment as authorized by Government Code Section 20516(f). The Union and the City will take all actions necessary to implement the pension cost sharing agreement described in this Section.
Sample 1Sample 2
Pension Cost Sharing. In addition to paying the 7.0% member contribution, bargaining unit members covered by this Section shall pay, through payroll deduction, an additional 3.0% of PERSable compensation towards the City’s costs, for a total contribution of 10% toward the normal cost of pension Memorandum of Understanding: General Employees Unit July 1, 2022 – June 30, 2024 benefits, as permitted by Cal. Gov. Code Section 20516. The parties acknowledge that CalPERS mandates an election by unit members, separate from ratification of this MOU, to provide for this cost sharing pursuant to Cal. Gov. Code Section 20516. As soon as practicable after the effective date of this MOU, the City will initiate the PERS contract amendment process. Upon approval and agreement from the bargaining unit and completion of the City’s amendment to the PERS contract, unit member contributions will be made pursuant to Cal. Gov. Code Section 20516. If the contract amendment is not complete before the effective date of the cost sharing described in this Section, the cost sharing shall be implemented outside of a PERS contract amendment as authorized by Xxx. Gov. Code Section 20516(f). The Union and the City will take all actions necessary to implement the pension cost sharing agreement described in this Section.
Sample 1
Pension Cost Sharing. In addition to paying the 7.0% member contribution, bargaining unit members covered by this Section shall pay, thorough payroll deduction, an additional 3.0% of PERSable compensation towards the City’s costs, for a total contribution of 10% toward the normal cost of pension benefits, as permitted by Cal. Gov. Code Section 20516. The parties acknowledge that CalPERS mandates an election by unit members, separate from ratification of this MOU, to provide for this cost sharing pursuant to Cal. Gov. Code Section 20516. As soon as practicable after the effective date of this MOU, the City will initiate the PERS contract amendment process. Upon approval and agreement from the bargaining unit and completion of the City’s amendment to the PERS contract, unit member contributions will be made pursuant to Cal. Gov. Code Section 20516. If the contract amendment is not complete before the effective date of the cost sharing described in this Section, the cost sharing shall be implemented outside of a PERS Memorandum of Understanding: Management Employees Unit July 1, 2022 – June 30, 2024 contract amendment as authorized by Cal. Gov. Code Section 20516(0. The Union and the City will take all actions necessary to implement the pension cost sharing agreement described in this Section.
Sample 1
Pension Cost Sharing. Effective the first payroll period after July 27, 2015, bargaining unit members covered by this Section 23.2 shall pay, through payroll deduction, the 8.0% member contribution and an additional 1% of PERSable compensation for a total contribution of 9% toward the normal cost of pension benefits as permitted by Government Code Section 20516. Effective the first day of the first full pay period in July 2016, bargaining unit members covered by this Section 23.2 shall pay, through payroll deduction, the 8.0% member contribution and an additional 2% of PERSable compensation for a total contribution of 10% toward the normal costs of pension benefits as permitted by Government Code Section 20516. Effective the first day of the first full pay period in July 2017, bargaining unit members covered by this Section 23.2 shall pay, through payroll deduction, the 8% member contribution and an additional 2.5% of PERSable compensation for a total contribution of 10.5% toward the normal costs of pension benefits as permitted by Government Code Section 20516. The parties acknowledge that CalPERS mandates an election of unit members, separate from ratification of this MOU, to provide for this cost sharing pursuant to Government Code Section 20516. As soon as practicable after the effective date of this MOU, the City will initiate the contract amendment process. Upon approval and agreement from the bargaining unit and completion of the City’s amendment to the CalPERS contract, unit member contributions will be made pursuant to Government Code Section 20516, Unit member Cost Sharing of Additional Benefits. If the contract amendment is not complete before the effective date of the cost sharing described in this Section 23.2, the cost sharing shall be implemented outside of a CalPERS contract amendment as authorized by Government Code Section 20516(f), and shall extend beyond the expiration of this MOU. The Union and the City will take all actions necessary to implement the pension cost sharing agreement described in this Section 23.2.
Sample 1
Pension Cost Sharing. Effective the first pay period after July 27, 2015, in addition to paying 50% of normal costs as described above, bargaining unit members covered by this Section 23.3 shall pay, through payroll deduction, an additional 1.0% of PERSable compensation toward the City’s normal cost of pension benefits as permitted by Government Code Section 20516. Effective the first day of the first full pay period in July 2016, in addition to paying 50% of normal costs as described above, bargaining unit members covered by this Section 23.3 shall pay, through payroll deduction, an additional 2.0% of PERSable compensation toward the City’s normal cost of pension benefits as permitted by Government Code Section 20516. Effective the first day of the first full pay period in July 2017, in addition to paying 50% of normal costs as described above, bargaining unit members covered by this Section 23.3 shall pay, through payroll deduction, an additional 2.5% of PERSable compensation toward the normal costs of pension benefits as permitted by Government Code Section 20516.
Sample 1
AutoNDA by SimpleDocs

Related to Pension Cost Sharing

  • Cost Sharing a) With respect to the funding in C6.1a), should there be an amount of employee co-pay, the Trust shall advise boards what that amount shall be. Unless advised otherwise, there will be no deductions upon the Participation Date.

  • 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.

  • Termination Costs If a Party elects to terminate this Agreement pursuant to Article 2.3.1 above, the terminating Party shall pay all costs incurred (including any cancellation costs relating to orders or contracts for Attachment Facilities and equipment) or charges assessed by the other Parties, as of the date of the other Parties’ receipt of such notice of termination, that are the responsibility of the terminating Party under this Agreement. In the event of termination by a Party, all Parties shall use commercially Reasonable Efforts to mitigate the costs, damages and charges arising as a consequence of termination. Upon termination of this Agreement, unless otherwise ordered or approved by FERC:

  • Pension All present employees enrolled in the Hospital's pension plan shall maintain their enrolment in the plan subject to its terms and conditions. New employees and employees not yet eligible for membership in the plan shall, as a condition of employment, enroll in the plan when eligible in accordance with its terms and conditions.

  • Benefit Premiums The Employer shall continue to pay its portion of insured benefit premiums, provided employees continue to pay their portion, as follows:

  • 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.

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • Overtime Premium Pay Time and one-half (1 1/2) the employee's straight time rate of pay shall be paid for all hours actually worked in excess of forty (40) hours in any one workweek.

  • Pension Benefits Each party reserves the right to retain as his or her sole and absolute separate property, the entire interest in pension benefits now vested, or that become vested in the future, and the right to manage, control, transfer, and convey all such property and dispose of the same by will, beneficiary designation or otherwise, without any interference from the other. The parties acknowledge that this Agreement shall constitute an effective waiver of any rights in the other's pension benefit plans. Furthermore, each party agrees to execute whatever additional waiver document may be necessary or useful to confirm such waiver of rights to the other party's pension benefit plans.

  • Profit Sharing Profit sharing, bonuses, or other similar compensation of any kind paid by CM/GC to its employees.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!