Common use of PERS Participating Member Contributions Clause in Contracts

PERS Participating Member Contributions. Effective June 1, 2019, Compensation Plan salary rates for PERS participating members were increased by six percent (6%) and the State ceased “picking up” the six percent (6%) employee contribution. The State will deduct from an employee’s salary and make the six percent (6%) employee contribution to their PERS account or Individual Account Program (“IAP”) account, as applicable. Such employee contributions shall be treated as “pre-tax” contributions pursuant to the Internal Revenue Code, Section 414(h)(2). 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”). The Parties acknowledge that challenges have been or may be filed that contest the legislation enacted by the 2019 Legislative Assembly, including SB1049.Nothing in this agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the above. REV: 2019

PERS Participating Member Contributions. Effective June 1, 2019, 2019 Compensation Plan salary rates for PERS participating members were increased by six percent (6%) and the State ceased “picking up” the six percent (6%) employee contribution. The State will deduct from an employee’s salary and make the six percent (6%) employee employees contribution to their PERS account or Individual Account Program (“IAP”) account, as applicable. Such employee contributions shall be treated as “pre-tax” contributions pursuant to the Internal Revenue Code, Section 414(h)(2). 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”). The Parties acknowledge that challenges have been or may be filed that contest the legislation enacted by the 2019 Legislative Assembly, including SB1049.Nothing SB 1049. Nothing in this agreement Agreement shall constitute a waiver of any party’s rights, claims or defenses with in respect to the above. REV: 2019.