PERS Participating Member Retirement Contributions Sample Clauses

PERS Participating Member Retirement Contributions. Effective February 1, 2019, compensation plan salary rates for PERS participating members were increased by six and nine five one hundredths percent (6.95%) 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. Employees’ contributions shall be treated as ‘pre tax’ contributions pursuant to 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.The Parties acknowledge that challenges have been or may be filed that contest the legislation enacted by the 2019 Legislative Assembly, including SB1049 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.
Sample 1
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PERS Participating Member Retirement Contributions. Effective February 1, 2019, compensation plan salary rates for PERS participating members were increased by six and nine five one hundredths percent (6.95%) 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. Employees’ contributions shall be treated as ‘pre tax’ contributions pursuant to Internal Revenue Code Section 414(h)(2).
Sample 1

Related to PERS Participating Member Retirement Contributions

  • Member Contributions With respect to benefits accrued under the Retirement System on or after January 1, 2021, members shall be required to make the following rates of member contributions to the Retirement System:

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. 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”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Contributions for OTPP Plan Members i. When an employee/plan member is on short term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OTPP contributions based on 100% of the employee/plan member’s regular pay.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • Retirement Contribution The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications. Corrections Firearms Instructor Oil & Hazardous Material Responder I Oil & Hazardous Material Responder II

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Company Contributions (a) For employees hired, rehired or who become covered under the CWA 3176 Agreement through any means before January 1, 2016, the Company shall contribute a Company Matching Contribution equal to 25 percent of the Participant’s Contribution up to a maximum of 6 percent of eligible wage.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

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