Common use of Provision Government Code Section Clause in Contracts

Provision Government Code Section. 2% at 62 7522.20 (a) Three Highest Years Average Compensation 7522,32 The “normal cost rate” shall mean the annual actuarially determined normal cost for the employer’s defined benefit plan expressed as a percentage of payroll. New Members and New Employees shall pay 50% of the normal cost adjusted annually in accordance with the CalPERS actuarial valuation for the City of Fountain Valley’s 2% at 62 plan. Any change to the New Member and New Employee contribution rate will become effective the first payroll period closest to July 1 of the appropriate year. Upon receipt of the annual actuarial valuation from CalPERS for the 2% at 62 plan, the Personnel Department will forward a copy to the Association specifying the New Member and New Employee contribution rate for the upcoming period. This process shall serve as the meet and confer process for any increase in the employee contribution rate. The Association may request to meet with the City if the New Member and New Employee contribution rate increases.

Provision Government Code Section. 2% at 62 7522.20 (a) Three Highest Years Average Compensation 7522,32 The “normal cost rate” shall mean the annual actuarially determined normal cost for the employer’s defined benefit plan expressed as a percentage of payroll. New Members and New Employees shall pay 50% of the normal cost adjusted annually in accordance with the CalPERS actuarial valuation for the City of Fountain Valley’s 2% at 62 plan. Any change to the New Member and New Employee contribution rate will become effective the first payroll period closest to July 1 of the appropriate year. Upon receipt of the annual actuarial valuation from CalPERS for the 2% at 62 plan, the Personnel Human Resources Department will forward a copy to the Association specifying the New Member and New Employee contribution rate for the upcoming period. This process shall serve as the meet and confer process for any increase in the employee contribution rate. The Association may request to meet with the City if the New Member and New Employee contribution rate increases.

Provision Government Code Section. 2% at 62 7522.20 (a) Three Highest Years Average Compensation 7522,32 The “normal cost rate” shall mean the annual actuarially determined normal cost for the employer’s defined benefit plan expressed as a percentage of payroll. New Members and New Employees shall pay 50% of the normal cost adjusted annually in accordance with the CalPERS actuarial valuation for the City of Fountain Valley’s Valley 2% at 62 plan. Any change to the New Member and New Employee contribution rate will become effective the first payroll period closest to July 1 of the appropriate year. Upon receipt of the annual actuarial valuation from CalPERS for the 2% at 62 plan, the Personnel Department will forward a copy to the Association specifying the New Member and New Employee contribution rate for the upcoming period. This process shall serve as the meet and confer process for any increase in the employee contribution rate. The Association may request to meet with the City if the New Member and New Employee contribution rate increases.