PERS Pickup. Effective February 1, 2019 compensation plan salary rates for PERS participating members shall be increased by six and ninety five one hundredths percent (6.95%). At that time bargaining unit employees will begin to make their own six percent (6%) contributions to their PERS account or the Individual Account Program as applicable. Employees’ contributions shall be treated as ‘pretax’ contributions pursuant to Internal Revenue Code Section 414(h)(2).
PERS Pickup. Effective February 1, 2019 compensation plan salary rates for PERS participating members shall be increased by six and ninety five hundredths percent (6.95%). At that time the Employer will begin paying the six percent (6%) required under ORS 238A.330 to the PERS or IAP accounts of such members, on behalf of such members, pursuant to a reduction of those members’ compensation under ORS 238.335(2)(a) and OAR 000-00-0000(3). No 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 contributions described under this Section to qualify as treatment as Employer contributions under Section 414(h)(2) of the Internal Revenue Code. This provision shall not be retroactive in its application or effective prior to February 1, 2019.
PERS Pickup. The District shall continue, so long as it is lawful and of no cost to the District, the "PERS Pickup" to enable unit members to defer income taxes on the District's PERS contributions.
PERS Pickup a. During the term of the Agreement, the District will participate in the public employee retirement plans established in ORS Chapter 238 and ORS 238A that are; (1) in effect as of the execution date of this Agreement; and (2) as applicable to employees covered by this Agreement. Any changes in the public employee retirement plans which are enacted during the life of this Agreement by statute or administrative rule will apply to employees covered by those plans.
b. The District does not agree to provide employees any particular level or type of retirement benefit, but only to participate in the public employee retirement plans and make contributions as required by law.
c. Employees will contribute 6% of their wage as defined by ORS Chapter 238 and/or 238A (HB 2020) to the public employee retirement plan for the duration of this agreement.
d. To the extent allowed by law, retiring employees will receive credit for unused sick leave for the purpose of calculating final average wage for PERS retirement benefits.
PERS Pickup. Section 28.1. The Employer agrees to implement a Salary Reduction Plan for P.E.R.S. contributions effective January 1, 2002, paid on behalf of the employees and at no cost to the Employer.
PERS Pickup. Section A. Public Employees Retirement System (“PERS”) Members. For purposes of this Section A, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.
PERS Pickup. The parties agree that the employee's contribution to the Public Employees Retirement System will, for tax purposes, be paid by the Employer. The Employer's share of the PERS contribution shall not increase due to the provisions, nor shall an employee's salary change due to the provision.
PERS Pickup. The College shall not withhold from the members' monthly salaries the employee contributions required by ORS 238.205, and shall "pick-up," assume, and pay the required employee contribution to the Public Employees Retirement System (PERS). The full amount of required employee contributions "picked-up" and paid pursuant to this Section shall be considered as "salary" within the meaning of ORS 238.205(2) with respect to PERS for the purposes of computing an employee member's "final average salary" within the meaning of ORS 238.205(3), but shall not be considered as "salary" for the purpose of determining the amount of employee contribution required to be contributed pursuant to ORS 238.205(3) in PERS and shall be considered to be employee contributions for purposes of ORS 238.005 to 238.320.
PERS Pickup. The unit member’s contribution required by PERS/OPSRP shall be made by the unit member through a payroll deduction.
PERS Pickup. The salary plan for all employees shall include the following: The District shall continue to pay as permitted by ORS 237.075 (now ORS 238.205) and House xxxx 2020, Sections 32-35 (2003), the six percent (6%) employee contribution for the Public Employee Retirement System for the employees then participating in the Public Employee Retirement System. Such payment of employee monthly contributions to the system shall continue for the life of this Agreement. Payment of the employee contribution shall also be applicable to employees who first began to participate in the system on and after September 1, 1979. The full amount of required employee contributions paid by the District pursuant to ORS 237.075 and ORS 238.205 on behalf of employees shall be considered as "salary" within the meaning of ORS 237.003(8) and 238.005(20) for the purpose of computing an employee's "final average salary" within the meaning of ORS 237.003(12) and ORS 238.005(8) but shall not be considered as "salary" for the purposes of determining the amount of employee contribution required to be contributed pursuant to ORS 237.071 or ORS 238.200(1). Such paid employee contribution shall be credited to the employee accounts pursuant to ORS 237.071(2) and ORS 238.200(2) and shall be considered to be employee contributions for the purposes of ORS 237.001 to 237.320 and the like renumbered statutes under ORS 238. The amount of an employee contribution to the individual account program that is paid by the employer and is not deducted from the compensation of the employee, as provided under Section 34(1) and (2)(b) of House Xxxx 2020 (2003) shall not be considered as "salary" for purpose of computing an employee's "final average salary" within the meaning of House Xxxx 2020 Section 10 (2003) nor shall it be considered as "salary" for purposes of determining the amount of employee contribution required to be contributed pursuant to Section 32 of House Xxxx 2020 (2003). Such paid employee contributions shall be credited to the employee individual account program pursuant to Section 32 of House Xxxx 2020 (2003) and shall be considered an employee contribution for the purpose of Section 34 of House Xxxx 2020 (2003).
