Common use of PERS Member Contribution Clause in Contracts

PERS Member Contribution. As required by Government Code Section 7522.30, each represented employee covered by this Section 7.3 shall pay, through payroll deductions, fifty percent (50%) of the normal cost of the two percent at sixty two (2% at 62) retirement plan as determined by PERS, with state and federal income tax on the PERS member’s contribution deferred to the extent permitted by Internal Revenue Code, 26 USC Section 414(h)(2).

PERS Member Contribution. As required by Government Code Section 7522.30, each represented employee covered by this Section 7.3 shall pay, through payroll deductions, fifty percent (50%) of the normal cost of the two percent at sixty two (2% at 62) retirement plan as determined by PERS, with state and federal income tax on the PERS member’s members contribution deferred to the extent permitted by Internal Revenue Code, 26 USC Section 414(h)(2).