Common use of PERS Clause in Contracts

PERS. Employee shall pay three percent (3%) toward the employee contribution of PERS. The City shall pay the remaining employee contribution of five percent (5%) pursuant to the retirement plan maintained by the City through the Public Employees Retirement System (PERS); provided, however, said payments shall not exceed the full employee portion of eight percent (8%) of the Employee’s compensation in the case of miscellaneous members of the retirement system. These payments are not salary increases but are retirement contributions made in accordance with Section 414(h)2 of the Internal Revenue Code. The City will pay the Employee’s cost of the 1959 Survivor’s Benefit.

PERS. Employee shall pay three percent (3%) toward the employee contribution of PERS. The City shall pay the remaining employee contribution of five percent (5%) pursuant to the retirement plan maintained by the City through the Public Employees Retirement System (PERS); provided, however, said payments shall not exceed the full employee portion of eight percent (8%) of the Employee’s Employees compensation in the case of miscellaneous members of the retirement system. These payments are not salary increases but are retirement contributions made in accordance with Section 414(h)2 414 (h)2 of the Internal Revenue Code. The City will pay the Employee’s cost of the 1959 Survivor’s Benefit.