PERS Cost Sharing Sample Clauses

PERS Cost Sharing. 1. Effective August 1, 2011, unit employees agree to contribute one and one-half percent (1.5%) of their salary per year and each fiscal year thereafter to the employer PERS contribution rate. 2. Effective September 1, 2013, unit employees agree to contribute an additional one and one-half percent (1.5%) of their salary per year and each fiscal year thereafter to the employer PERS contribution rate, for a total unit employee contribution of three percent (3%). 3. Effective July 1, 2016, unit employees agree to contribute an additional one percent (1%) of their salary per year and each fiscal year thereafter to the employer PERS contribution rate, for a total unit employee contribution of four percent (4%).
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PERS Cost Sharing. In the event that the employer Public Employees Retirement System (PERS) contribution rate set forth in Section XXVIII. Subsection B. established (by PERS) for the category of public safety employees (Police and Fire) of the City of Glendale exceeds four percent (4%) of salary set forth in Section XXVIII. Subsection D., the City and unit employees agree that the City and the unit public safety employees shall pay equal amounts (50/50) of any employer PERS contribution rate in excess of four percent (4%) of salary.
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PERS Cost Sharing. 1. Effective August 1, 2011, unit employees agree to contribute one and one-half percent (1.5%) of their salary per year and each fiscal year thereafter to the employer PERS contribution rate. 2. Effective September 1, 2013, unit employees agree to contribute an additional one and one-half percent (1.5%) of their salary per year and each fiscal year thereafter to the employer PERS contribution rate, for a total unit employee contribution of three percent (3%). 3. Effective July 1, 2016, unit employees agree to contribute an additional one percent (1%) of their salary per year and each fiscal year thereafter to the employer PERS contribution rate, for a total unit employee contribution of four percent (4%). 4. As set forth in Article Two, Section III, effective the first day of the pay period that includes January 1, 2022, the unit employee contribution to the employer PERS contribution rate shall decrease by one percent (1%), for a total unit employee contribution of three percent (3%). 5. As set forth in Article Two, Section III, effective the first day of the pay period that includes July 1, 2023, the unit employee contribution to the employer PERS contribution rate shall decrease by one-half percent (0.5%), for a total unit employee contribution of two and one-half percent (2.5%).
Sample 1
PERS Cost Sharing. 1. In the event that the employer Public Employees Retirement System (PERS) contribution rate set forth in Section XXV (B), established (by PERS) for the category of public safety employees (Police and Fire) of the City of Glendale exceeds 4% of salary, the City and unit employees agree that the City and the unit public safety employees shall pay equal amounts (50/50) of any employer PERS contribution rate in excess of 4% of salary. 2. The maximum amount a unit employee will pay is not to exceed 1.5% of “PERSable” salary annually through December 31, 2010. 3. Effective January 1, 2011, the maximum amount a unit employee will pay is not to exceed 2.0% of “PERSable” salary annually through December 31, 2012. 4. Effective January 1, 2013, the maximum amount a unit employee will pay is not to exceed 2.25% of “PERSable” salary annually through December 31, 2013. 5. Effective January 1, 2014, the maximum amount a unit employee will pay is not to exceed 3.0% of “PERSable” salary annually through December 31, 2014. 6. Effective January 1, 2015, the maximum amount a unit employee will pay is not to exceed 3.5% of “PERSable” salary annually through August 31, 2015. 7. Effective September 1, 2015 a. Classic CalPERS Members (Tier I: 3% at 50 and Tier II: 3% at 55): the maximum amount a unit employee will pay is not to exceed 3.75% of “PERSable” salary annually through June 30, 2017. b. PEPRA CalPERS Members (hired on or after January 1, 2013): the maximum amount a unit employee will pay is not to exceed 3.5% of “PERSable” salary annually during the life of this benefit. 8. Effective July 1, 2017 a. Classic CalPERS Members (Tier I: 3% at 50 and Tier II: 3% at 55): the maximum amount a unit employee will pay is not to exceed 4.0% of “PERSable” salary annually through the life of this benefit. b. PEPRA CalPERS Members (hired on or after January 1, 2013): the maximum amount a unit employee will pay is not to exceed 3.5% of “PERSable” salary annually during the life of this benefit. 9. Effective July 1, 2020 a. Classic CalPERS Members (Tier I: 3% at 50 and Tier II: 3% at 55): the maximum amount a unit employee will pay is not to exceed 4.5% of “PERSable” salary annually through the life of this benefit. b. PEPRA CalPERS Members (hired on or after January 1, 2013): the maximum amount a unit employee will pay is not to exceed 3.5% of “PERSable” salary annually during the life of this benefit. 10. The following charts illustrates the cost-sharing agreement between the City an...
Sample 1
PERS Cost Sharing. 1. In the event that the employer Public Employees Retirement System (PERS) contribution rate set forth in Section XXVI,- B, established (by PERS) for the category of public safety employees (Police and Fire) of the City of Glendale exceeds 4% of salary, the City and unit employees agree that the City and the unit public safety employees shall pay equal amounts (50/50) of any employer PERS contribution rate in excess of 4% of salary . 2. The maximum amount a unit employee will pay is not to exceed 1.5% of “PERSable” salary annually through December 31, 2010. 3. Effective January 1, 2011, the maximum amount a unit employee will pay is not to exceed 2.0% of “PERSable” salary annually during the life of the benefit.
Sample 1
PERS Cost Sharing. Employees in the bargaining unit pay one-­‐half of one percent (.5%) as an additional pension contribution as cost sharing in accordance with Government Code section 20516(f). Effective with the pay period which begins on January 1, 2016, employees in the bargaining unit are responsible for paying an additional pension contribution of two and one half percent (2.5%) for a total of three percent (3%) as cost sharing in accordance with Government Code section 20516(f). If, at any time in the future, the Union informs the City that it no longer agrees to this cost sharing agreement, effective on the date of the elimination of the cost sharing (which would need to coincide with the expiration date of the MOU) the employees’ base salary would be reduced by three percent (3%).
Sample 1
PERS Cost Sharing. Employees in the bargaining unit pay three percent (3%) as an additional pension contribution as cost sharing in accordance with Government Code section 20516(f). If, at any time in the future, the Union informs the City that it no longer agrees to this cost sharing agreement, effective on the date of the elimination of the cost sharing (which would need to coincide with the expiration date of the MOU) the employees’ base salary would be reduced by three percent (3%). The parties agree that in conducting a salary or compensation survey, the employees’ contribution to their member contribution and the additional contribution for cost sharing will be deducted from their total compensation and from the total compensation of the other survey agencies.
Sample 1
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PERS Cost Sharing. In the event that the employer Public Employees Retirement System (PERS) contribution rate set forth in Section XXVII. Subsection B. established (by PERS) for the category of public safety employees (Police and Fire) of the City of Glendale exceeds four percent (4%) of salary set forth in Section XXVII. Subsection D., the City and unit employees agree that the City and the unit public safety employees shall pay equal amounts (50/50) of any employer PERS contribution rate in excess of four percent (4%) of salary. The maximum amount a unit employee will pay is not to exceed 3.5% of ”PERSable” salary annually.
Sample 1

Related to PERS Cost Sharing

  • Occupancy Costs (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof. (ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.

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