PERS Employee Contribution Sample Clauses
PERS Employee Contribution. A.1.a. Effective July 1, 2003, the City has a contract with the Public Employees Retirement System (PERS) to provide safety employees with a 3% @ 55 retirement plan in accordance with Section 21362.1, 21363.1 of the California Government Code. As a result of the Public Employee’s Pension Reform Act (PEPRA), effective January 1, 2013, this retirement plan will only be applicable to employees identified by PERS as Classic Members (generally employees who became members of PERS prior to January 1, 2013).
PERS Employee Contribution. The City's contribution to PERS on behalf of all affected employees shall be nine percent (9%).
PERS Employee Contribution. A.1.a Effective December 22, 2013, the City ceased paying the 9% employee contribution to the Public Employees Retirement System ( PERS) for employees identified by PERS as Classic Members (generally employees who became members of PERS prior to January 1, 2013). Each Classic Member employee shall be responsible for paying the full 9% employee share of PERS contributions, with state and federal income tax on the PERS member contribution deferred to the extent permitted by Internal Revenue Code, 26 USC Section 4.14(h)(2).
PERS Employee Contribution. The County of Yuba and YCEA negotiated a contract, which amended the County’s local Miscellaneous Members’ Contract under Section 20516 for Local Miscellaneous Classic and PEPRA New members beginning in 2015. The result of these amendments over time is an agreement that the members will pay an additional 2% toward the Employer contribution effective July 1, 2019.
PERS Employee Contribution. 1. The City's contribution to PERS on behalf of all affected employees shall be the seven percent (7%) contribution.
2. The City's contributions to PERS on behalf of affected employees shall be used in salary comparisons as part of total compensation.
3. In implementing the provisions of paragraph 1 of this section, each affected employee shall be obligated to contribute any increase in employee contributions that should hereafter result from any state or federal enactment or action, which increases the total employee contribution rate above its current level of seven percent (7%).
4. In implementing the provisions of paragraph 1 of this section, the City will credit to the employee any decrease in employee contributions that should hereafter result from any state or federal enactment or action, which decreases the total employee contribution rate below its current level of seven percent (7%).
5. Amounts contributed by the City pursuant to this section shall be credited to the affected employee's PERS account as if made solely by the employee.
PERS Employee Contribution. The District will allow each eligible employee through payroll deduction to make his/her employee contribution to PERS with pre-tax dollars subject to state and federal law and tax codes.
PERS Employee Contribution. The PERS employee contribution rate is seven percent (7%) for Classic members. Effective July 1, 2016 for each employee identified as a Classic member of CalPERS and covered by first tier (2% @ 55) benefits, the Authority shall pay the Employer Paid Member Contributions (EPMC) of 2.0% of base pay and report this as “Special Compensation”. Each employee shall pay the remaining 5.0 % of the employee’s PERS contribution. Effective July 1, 2017, for each employee identified as Classic members of CalPERS and covered by first tier (2% @ 55) benefits, the Authority shall pay the Employer Paid Member Contributions (EPMC) of 1.0% of base pay and report this as “Special Compensation”. Each employee shall pay the remaining 6.0 % of the employee’s PERS contribution. Effective July 1, 2018, for each employee identified as Classic members of CalPERS and covered by first tier (2% @ 55) benefits, the Authority shall cease paying the Employer Paid Member Contributions (EPMC). Each employee shall pay 7.0% of his/her reportable pay each pay period to CalPERS as the employee’s CalPERS contribution. Each employee identified as a new member of CalPERS and covered by second tier (2% @62) benefits shall contribute 50% of the Total Normal Cost, as determined by CalPERS, or the amount as similarly situated employees, as determined by CalPERS, whichever is greater, of his/her reportable pay each pay period to CalPERS.