PEPRA NEW Members Employee Retirement Contribution Sample Clauses

PEPRA NEW Members Employee Retirement Contribution. Employees identified by CalPERS as PEPRA New Members will have an employee contribution rate of at least 50% of the normal cost rate of their defined benefit plan, rounded to the near ¼ percent; adjusted periodically as determined by PERS. The employee contribution currently in effect is 6.25% for Local MISC PEPRA New Members plus a percentage of the Employer’s pension cost for a total employee contribution as identified in this Section below under “Employee Sharing Additional Cost”.
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PEPRA NEW Members Employee Retirement Contribution. Employees identified by XxxXXXX as PEPRA New Members will have an employee contribution rate of at least 50 percent of the normal cost rate for the defined benefit plan, rounded to the nearest ¼ percent; adjusted periodically as determined by PERS (as adjusted by CalPERS in accordance with Section Code 7522.30(b)): Effective July 1, 2019, the PEPRA New Member employee contribution is as follows:
Sample 1
PEPRA NEW Members Employee Retirement Contribution. Employees identified by XxxXXXX as PEPRA New Members will have an employee contribution rate of at least 50 percent of the normal cost rate for their defined benefit plan, rounded to the near ¼ percent; adjusted periodically as determined by PERS. The employee contribution currently in effect is 6.25% for Local MISC New Members. Employee Sharing Additional Cost (Classic Members): Pursuant to Government Code section 20516(a), the County of Yuba and DDAA have agreed to an amendment to their CalPERS contract effective July 1, 2016, which includes Classic employees paying an additional portion of the employer’s share of pension cost as follows: • DDAA MISC Classic Members pay an additional 1% toward the Employer Contribution, with the DDAA MISC Classic Members total employee contribution of 8%. Effective July 1, 2019, following the amendment of the CalPERS retirement contract pursuant to Government Code section 20516(a), the CalPERS Employer Pension Contribution will be as follows: • DDAA MISC Classic Members agree to pay an additional 1% for a total of 2% toward the Employer Contribution, with the DDAA MISC Classic Members total employee contribution of 9%. If the required CalPERS ballot initiative for the contract amendment does not pass, DDAA agrees to pay the additional 1% toward the Employer Contribution pursuant to Government Code Section 20516(f) effective July 1, 2019 until such time that the CalPERS retirement contract can be amended to provide for DDAA members to pay the additional 1% toward the Employer Contribution pursuant to Government Code section 20516(a).
Sample 1

Related to PEPRA NEW Members Employee Retirement Contribution

  • Retirement Contribution The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications. Corrections Firearms Instructor Oil & Hazardous Material Responder I Oil & Hazardous Material Responder II

  • 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.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Voluntary employee contributions (i) Subject to the governing rules of the relevant superannuation fund, an employee may, in writing, authorise their employer to pay on behalf of the employee a specified amount from the post- taxation wages of the employee into the same superannuation fund as the employer makes the superannuation contributions provided for in Clause 24(b).

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • 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.

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