PERS Retirement. County retirement is provided through the Public Employees Retirement System (PERS). Unit employees are covered under the Safety retirement provisions with a 2% @ age 50 benefit. Beginning as soon as the County amends its contract with PERS, new hires after that date will be employed under the 2% @ age 55 PERS Safety retirement provisions. The County shall pay all of the employer contributions associated with this formula as determined by PERS.
PERS Retirement. The member must be retired and receiving benefits under the Oregon Public Employees Retirement System.
PERS Retirement. 10.5.1 PERS Retirement prior to age 55 Unit members who retire under the PERS are eligible to continue in the District's Health and Welfare Benefits, including medical, dental, vision and life insurance; providing such individuals make timely payments to the District for the costs of the premiums for such benefits. The cost of dependent coverage is the retiree‘s responsibility.
10.5.2 District Paid Health and Welfare Benefits The District will contribute $8,848.40 per year (for unit members that retired prior to June 1, 2023) or $10,800 per year (for unit members that retire after June 1, 2023) for District health and welfare benefits which include health, dental, vision, and life insurance for any unit member (member only) who retires from PERS between the ages of 55 and the age he or she qualifies for Medicare and meets all of the requirements listed below:
PERS Retirement. 5.1.1 The City will continue its participation in the Public Employees Retirement System “PERS” for Miscellaneous employees as follows: • Tier One – Applicable to employees who are not defined as “New Members” in Government Code Section 7522.04 and were hired before December 16, 2012 are eligible for a 2.5% @ 55 benefit formula. • Tier Two – Applicable to employees who are not defined as “New Members” in Government Code Section 7522.04 and were hired on/after December 16, 2012 are eligible for a 2% @ 60 benefit formula. • Tier Three – Applicable to employees who are defined as “New Members” in Government Code Section 7522.04 are eligible for the 2% @ 62 benefit formula.
PERS Retirement. 5.1.1 The City will continue its participation in the State of California Public Employees’ Retirement System (“PERS”) for miscellaneous employees as follows: • Tier One – Applicable to employees who are not defined as “New Members” in Government Code Section 7522.04 and were hired before December 16, 2012 are eligible for a 2.5% @ 55 benefit formula. • Tier Two – Applicable to employees who are not defined as “New Members” in Government Code Section 7522.04 and were hired on/after December 16, 2012 are eligible for a 2% @ 60 benefit formula. • Tier Three – Applicable to employees who are defined as “New Members” in Government Code Section 7522.04 are eligible for the 2% @ 62 benefit formula.
PERS Retirement. 1. The EMPLOYER shall pay the appropriate percentage contribution into the state PERS retirement program on behalf of each employee in the unit.
2. The EMPLOYER will submit to the Public Employees' Retirement System the employee's request for withdrawal with the last monthly PERS report that the employee's name appears on, provided the employee has submitted a withdrawal form to the Human Resource Office.
PERS Retirement. 5.1.1 The City provides in its contract with the Public Employees Retirement System for: Safety (Sworn) employees as follows: 3% @ 50—hired before November 20, 2011 with a three year average compensation formula; 3% @ 55—hired on/after November 20, 2011 with a three year average compensation formula;
PERS Retirement. 7.1.1 The City will continue its participation in the Public Employees Retirement System (PERS) for employees as follows: • Tier One – Applicable to employees who are not defined as “New Members” in Government Code Section 7522.04(f) and were hired to the City of Xxxxx before August 12, 2012 are eligible for a 3% @ 50 benefit formula with a three-year average compensation formula; • Tier Two – Applicable to employees who are not defined as “New Members” in Government Code Section 7522.04(f) and were hired to the City of Xxxxx on/after August 12, 2012 are eligible for a 3% @ 55 benefit formula with a three-year average compensation formula; • Tier Three – Applicable to employees who are defined as “New Members” in Government Code Section 7522.04(f) and were hired on/after January 1, 2013 are eligible for a 2.7% @ 57 benefit formula with a three-year average compensation formula; • 1959 Fourth Level Survivor Benefits;
PERS Retirement. A. Employees will be covered under the Fire Safety contract under the Public Employees' Retirement System (PERS) with a 3% at age 50 benefit formula.
B. Employees shall contribute toward PERS Retirement as follows:
1. Effective July 1, 2012 employees will continue to pay 2.98% of salary to CalPERS under Government Code Section 20516(a) (Cost Sharing). The City will continue to contribute the entire required employee portion of the PERS contribution rate equal to 9% of pensionable income on behalf of bargaining unit members as Employer Paid Member Contributions (EPMC), which shall be credited to the individual member's account.
2. Effective January 12, 2013, existing employees will contribute a portion of the required employee contribution equal to 2.25%of pensionable income and the City’s Employer Paid Member Contributions (EPMC) will be reduced accordingly to 6.75% of pensionable income. If retroactivity for the January 12, 2013 employee contribution increase cannot be achieved, a higher amount will be temporarily implemented to achieve similar City savings to the January 12, 2013 implementation date.
3. Effective June 29, 2013 payments under Government Section 20516(a) will end and employees will contribute 4.5% of pensionable income or one-half of the normal member contribution. The City’s Employer Paid Member Contributions will be reduced accordingly to 4.5% of pensionable income.
4. Effective January 11, 2014 employees will contribute a member contribution an amount equal to 7% of pensionable income and the City’s Employer Paid Member Contributions (EPMC) will be reduced accordingly to 2% of pensionable income.
5. Effective January 10, 2015 employees will pay the entire member contribution equal to 9% of pensionable income.
C. Until January 9, 2015, The City shall report the value of any Employer Paid Member Contributions (EPMC) to PERS as compensation earnable pursuant to Government Code Section 20636(c)(4). Effective January 10, 2015, the City will rescind resolutions for paying and reporting the value of Employer Paid Member Contributions to PERS as compensation pursuant to Government Code Section 20636(c)(4) for all employees.
D. Notwithstanding Sections A through C, above, effective January 1, 2013, new members as defined by California Public Employees’ Pension Reform Act of 2013 (hereinafter “AB 340”) will be covered under the 2.7% at 57 retirement formula, with a final compensation measurement period of the average of the highest three (3) cons...
PERS Retirement. The County agrees that Employee's total compensation shall include PERS 1, PERS 2, or PERS 3 retirement as appropriate.
