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%).
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.
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.
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.
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.
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...
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%).
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%).