PEPRA Members. Employees covered by this MOU who are defined as “New Members” within the meaning of the California Public Employees’ Pension Reform Act (PEPRA) of 2013 receive the 2% @ 62 Service Retirement benefit.
PEPRA Members. Effective after ratification of a successor MOA by the Board of Supervisors, PEPRA Miscellaneous employees shall receive a 2% reduction to the portion of their PERS contribution rate that represents earlier self-funded wage increases, from 7.00% to 5.00%. This 2.00% is a fixed amount which will not fluctuate. The remainder of the PERS contribution rate for PEPRA Miscellaneous employees shall be determined by CalPERS actuaries each fiscal year pursuant to the Public Employees’ Pension Reform Act of 2013. Currently this rate, the “half the normal rate,” is 6.75%. This percentage amount may fluctuate as set forth immediately above. During the remainder of the term of the MOA, PEPRA Miscellaneous employees shall continue to contribute 5.00% to this portion of the PERS contribution rate that represents earlier self-funded wage increases. The remainder of their PERS contribution rate for PEPRA Miscellaneous employees shall be determined by CalPERS actuaries each fiscal year pursuant to the Public Employees’ Pension Reform Act of 2013.
PEPRA Members. Members defined by XxxXXXX as PEPRA members will be provided a retirement benefit formula of Miscellaneous Employees 2% at age 62 with 3-year final compensation. Employees shall pay the full employee’s share of CalPERS as determined by CalPERS through payroll withholding; the District shall not pay any portion of the required employee contribution.
PEPRA Members. 21 Tier C: 2% @ 62 Benefit Formula for employees hired on 22 or after January 1, 2013 who meet the definition of “new member” 23 under the Public Employees’ Pension Reform Act (PEPRA). The Employee 24 Contribution for this formula is 50% of “Normal Cost” and is 6.75% 25 the time of approval of this MOU. The final compensation retirement 26 calculation shall be an average of the highest three (3) consecutive 27 years of compensation earnable.
PEPRA Members. 1. Regular full-time and regular part-time NAME members who were appointed on or after January 1, 2013 and who are “PEPRA Members” (as defined by XxxXXXX) will contribute half the normal cost of the 2.0% at 62 plan as required by the Public Employee’s Pension Reform Act of 2013.
PEPRA Members. The PEPRA Member shall pay 7% toward the employer share of PERS, in addition to the PEPRA Member’s required PEPRA contribution (at least 50% of normal costs). Section 14.4 - Self-Funded Raise of 6.343% Effective upon Ratification by the Board of Supervisors: For Classic PERS Member Miscellaneous Employees As set forth in Article 4.2 of this agreement, the Classic PERS Member employee shall pay the entire 8% PERS member-share contribution (7% is a new contribution plus the existing 1% contribution). Separately, the employee shall continue to pay the existing 2.931% on the employer PERS share. Total employee-paid contribution for PERS is 10.931%. In return for the new contribution of 7% and the elimination of Employer Paid Member Contribution (EPMC), the County will provide an equivalent self-funded wage increase, which is 6.343%, effective upon the second reading and adoption of the salary ordinance by the Board of Supervisors.
PEPRA Members. Uniform Allowance CalPERS New Members (PEPRA) receive uniform allowance in equal amounts per pay period. The total amount is $800 annually.
