Common use of PERS Participating Members Clause in Contracts

PERS Participating Members. Effective November 1, 2016, Compensation Plan salary rates for PERS participating members were increased by six and ninety-five hundredths percent (6.95%) and the State ceased “picking up” the six percent (6%) employee contribution under OAR 459-009-0200(2). The State will deduct from a PERS participating member’s salary and make the six percent (6%) employee contribution to their PERS account or Individual Account Program (“IAP”) account, as applicable, on behalf of such member, pursuant to a reduction of the member’s compensation under ORS 238A.335(2)(a) and OAR 459-009-0200(3). No PERS participating member will have an option to receive any part of that six percent (6%) contribution directly, as cash or otherwise. The intent of the Parties is for the employee contributions described under this Section to qualify for treatment as employer contributions under Section 414(h)(2) of the Internal Revenue Code.

PERS Participating Members. Effective November 1, 2016, Compensation Plan salary rates for PERS participating members were increased by six and ninety-five hundredths percent (6.95%) and the State ceased “picking up” the six percent (6%) employee contribution under OAR 459-009-0200(2). The State will deduct from a PERS participating member’s salary and make the six percent (6%) employee contribution to their PERS account or Individual Account Program (“IAP”) account, as applicable, on behalf of such member, pursuant to a reduction of the member’s compensation under ORS 238A.335(2)(a) and OAR 459-009-0200(3). No PERS participating member will have an option to receive any part of that six percent (6%) contribution directly, as cash or otherwise. The intent of the Parties is for the employee contributions described under this Section to qualify for treatment as employer contributions under Section 414(h)(2) of the Internal Revenue Code.. LETTER OF AGREEMENT 31.00-11-226‌‌

PERS Participating Members. Effective November 1, 2016, Compensation Plan salary rates for PERS participating members were increased by six and ninety-five hundredths percent (6.95%) and the State ceased “picking up” the six percent (6%) employee contribution under OAR 459-009-0200(2). The State will deduct from a PERS participating member’s salary and make the six percent (6%) employee contribution to their PERS account or Individual Account Program (“IAP”) account, as applicable, on behalf of such member, pursuant to a reduction of the member’s compensation under ORS 238A.335(2)(a) and OAR 459-009-0200(3). No PERS participating member will have an option to receive any part of that six percent (6%) contribution directly, as cash or otherwise. The intent of the Parties is for the employee contributions described under this Section to qualify for treatment as employer contributions under Section 414(h)(2) of the Internal Revenue Code.. LETTER OF AGREEMENT 30.00-21-396‌

PERS Participating Members. Effective November 1, 2016, Compensation Plan salary rates for PERS participating members were increased by six and ninety-five hundredths percent (6.95%) and the State ceased “picking up” the six percent (6%) employee contribution under OAR 459-009-0200(2). The State will deduct from a PERS participating member’s salary and make the six percent (6%) employee contribution to their PERS account or Individual Account Program (“IAP”) account, as applicable, on behalf of such member, pursuant to a reduction of the member’s compensation under ORS 238A.335(2)(a) and OAR 459-009-0200(3). No PERS participating member will have an option to receive any part of that six percent (6%) contribution directly, as cash or otherwise. The intent of the Parties is for the employee contributions described under this Section to qualify for treatment as employer contributions under Section 414(h)(2) of the Internal Revenue Code.. LETTER OF AGREEMENT 27.5A-03-73‌‌