Public Employees Retirement System (CalPERS) Sample Clauses

Public Employees Retirement System (CalPERS). In the event that Contractor or any employee, agent, or subcontractor of Contractor providing services under this Contract is determined by a court of competent jurisdiction or the Public Employees Retirement System (CalPERS) to be eligible for enrollment in CalPERS as an employee of the County, Contractor shall indemnify, defend, and hold harmless County for the payment of any employee and/or employer contributions of CalPERS benefits on behalf of Contractor or its employees, agents, or subcontractors, as well as for the payment of any penalties and interest on such contributions, which would otherwise be the responsibility of County. Contractor understands and agrees that his personnel are not, and will not be, eligible for memberships in, or any benefits from, any County group plan for hospital, surgical or medical insurance, or for membership in any County retirement program, or for paid vacation, paid sick leave, or other leave, with or without pay, or for any other benefit which accrues to a County employee.
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Public Employees Retirement System (CalPERS). In the event that Contractor or any employee, agent, or subcontractor of Contractor providing services under this Agreement is determined by a court of competent jurisdiction or the Public Employees Retirement System (CalPERS) to be eligible for enrollment in CalPERS as an employee of County, Contractor shall indemnify, defend, and hold harmless County for the payment of any employee and/or employer contributions for CalPERS benefits on behalf of Contractor or its employees, agents, or subcontractors, as well as for the payment of any penalties and interest on such contributions, which would otherwise be the responsibility of County.
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Public Employees Retirement System (CalPERS). All employees covered under this Memorandum of Understanding shall be members of the State of California Public Employees' Retirement System (CalPERS) and are subject to all applicable provisions of the City's contract with CalPERS, as amended. Classic Employees - The CalPERS plan in effect for “Classic” members is known as the 2% @ 55 formula for Local Miscellaneous Members based on the three highest consecutive years. Effective the first full payroll period beginning on or after July 1, 2016, employees hired as “Classic” Miscellaneous employees under the CalPERS definition shall pay the entire seven percent (7%) CalPERS-mandated employee retirement contribution. Effective the first full payroll period beginning on or after July 1, 2017 Classic employees shall pay an additional one percent (1%) cost sharing contribution pursuant to Government Code Section 20516 for a total CalPERS employee contribution of eight percent (8%). This cost sharing contribution shall be treated as normal member CalPERS contributions to the extent provided by statute. New Employees or New Members - Pursuant to California Public Employees’ Pension Reform Act of 2013 (PEPRA), “new employees” and/or “new members” as those terms are defined in Government Code Section 7522.04 hired on or after January 1, 2013, are enrolled in the 2% at 62 retirement formula for Local Miscellaneous Members (Government Code Section 7522.20) based on the three highest consecutive years. Pursuant to PEPRA, new employees or new members hired on or after January 1, 2013, shall pay at least 50% of the normal cost of pension as is determined each year by CalPERS to be the employee contribution rate. Implementation of the above funding of the employee CalPERS contributions shall be accomplished by means of each affected employee incurring a payroll deduction each payroll period in the above amounts. Said payroll deductions shall be on a pre-tax basis pursuant to IRS Code Section 414 (h) (2). 1959 Survivor Benefit The CalPERS Retirement Plan has been amended to include the Fourth Level 1959 Survivor Benefit. The employee shall pay 100% of all monthly costs for this benefit, in addition to the $2.00 monthly cost for the basic level 1959 Survivor Benefit.
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Public Employees Retirement System (CalPERS). All employees covered under this Agreement shall be members of the State of California Public Employees' Retirement System (CalPERS) and are subject to all applicable provisions of the City's contract with CalPERS, as amended. Employees hired as “Classic” safety employees under the CalPERS definition pay the entire nine percent (9%) CalPERS mandated employee retirement contribution, and in addition, pick up an additional three percent (3%), for a total CalPERS contribution of twelve percent (12%). Effective July 1, 2017, this 12% contribution shall be designated as an “Employee” contribution. Implementation of the above funding of the employee CalPERS contributions shall be accomplished by means of each affected employee incurring a payroll deduction each payroll period in the above amounts. Said payroll deductions shall be on a pre-tax basis pursuant to IRS Code Section 414(h)(2). CalPERS Plan Formula for Safety Employees- The CalPERS plan in effect for “Classic” Association members hired before September 17, 2011 is known as the “Local Safety 3% @ 50 Plan, based on the single highest year”.
Sample 1
Public Employees Retirement System (CalPERS). All employees covered under this Agreement shall be members of the State of California Public Employees' Retirement System (CalPERS) and are subject to all applicable provisions of the City's contract with CalPERS, as amended. Retirement Formula - The CalPERS plan in effect for Safety Members hired before September 17, 2011, is the 3% @ 50 formula for Local Safety Members, based on single highest year. The CalPERS plan in effect for unit members hired as Classic safety employees on or after September 17, 2011, is the 2% @ 50 formula, (except as noted below in the section titled “New Employees”) based on the three highest consecutive years and shall not be eligible for the single highest year benefit. Employee Contribution - Employees hired as “Classic” Local Safety Members under the CalPERS definition shall pay the entire nine percent (9%) CalPERS-mandated employee retirement contribution. Effective the first full payroll period commencing on or after July 1, 2017 “Classic” safety employees in the unit shall pay an additional three percent (3%) cost sharing contribution pursuant to Government Code Section 20516 for a total CalPERS contribution of twelve percent (12%). New Employees or New Members - Pursuant to California Public Employees’ Pension Reform Act of 2013 (PEPRA), Local Safety Members in this unit who are “new employees” and/or “new members” as those terms are defined in Government Code Section 7522.04 hired on or after January 1, 2013, are enrolled in the 2.7% @ 57 Retirement Formula for Local Safety Members (Government Code Section 7522.25(d) Safety Option Plan Two) based on the three highest consecutive years and shall be ineligible for the single highest year benefit. PEPRA Employee Contribution - Pursuant to PEPRA, “new employees” or “new members” hired on or after January 1, 2013, shall individually pay at least fifty percent (50%) of the total normal cost of pension as is determined each year by XxxXXXX to be the employee contribution rate. Effective the first full payroll period beginning on or after July 1, 2017 “new employees” or “new members” shall pay up to an additional three percent (3%) contribution pursuant to Government Code Section 20516 for a maximum contribution of twelve percent (12%). This cost sharing contribution shall be treated as normal member CalPERS contributions to the extent provided by statute. (PEPRA normal cost rate for 2019 is eleven and one quarter percent (11.25%) resulting in an increase CalPERS contribution ...
Sample 1
Public Employees Retirement System (CalPERS). In the event that SCRC or any employee, agent, or subcontractor of SCRC providing services under this MOU is determined by a court of competent jurisdiction or the Public Employees Retirement System (CalPERS) to be eligible for enrollment in CalPERS as an employee of the County, SCRC shall indemnify, defend, and hold harmless County for the payment of any employee and/or employer contributions of CalPERS benefits on behalf of SCRC or its employees, agents, or subcontractors, as well as for the payment of any penalties and interest on such contributions, which would otherwise be the responsibility of County. SCRC understands and agrees that his personnel are not, and will not be, eligible for memberships in, or any benefits from, any County group plan for hospital, surgical or medical insurance, or for membership in any County retirement program, or for paid vacation, paid sick leave, or other leave, with or without pay, or for any other benefit which accrues to a County employee.
Sample 1
Public Employees Retirement System (CalPERS). In the event that Contractor or any employee, agent, or subcontractor of Contractor providing services under this Contract is determined by a court of competent jurisdiction or the Public Employees Retirement System (CalPERS) to be eligible for enrollment in CalPERS as an employee of the County, Contractor shall indemnify, defend, and hold harmless County for the payment of any employee and/or employer contributions of CalPERS benefits on behalf of Contractor or its employees, agents, or subcontractors, as well as for the payment of any penalties and interest on such contributions, which would otherwise be the responsibility of County. Contractor understands and agrees that his personnel are not, and will not be, eligible for memberships in, or any benefits from, any County group plan for hospital, surgical or medical insurance, or for membership in any County DocuSign Envelope ID: DE20D785-D59E-491F-A20C-92A887AA714E retirement program, or for paid vacation, paid sick leave, or other leave, with or without pay, or for any other benefit which accrues to a County employee.
Sample 1
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Public Employees Retirement System (CalPERS). Employees hired after January 1, 2013, who are “new members” (as defined in Government Code Section 7522.04(f), or its successor) shall be enrolled in the 2.7% at age 57 Plan, as required by law. For other employees, the City shall continue its contract with CalPERS for the 3% at age 50 Plan, with widow’s one-half continuance. The retirement benefit shall be based on the single highest year. Informational booklets regarding the retirement plan are available in the Human Resources Department. The City shall maintain its contract with CalPERS to provide a four percent (4%) COLA for retirees. The City will maintain the CalPERS credit (Government Code § 20965) for unused sick leave.
Sample 1
Public Employees Retirement System (CalPERS). Employees hired after January 1, 2013, who are “new members” (as defined in Government Code Section 7522.04(f), or its successor) shall be enrolled in the 2.7% at age 57 Plan, as required by law. For other employees, the City shall continue its contract with CalPERS for the 3% at age 50 Plan, with widow’s one-half continuance. The retirement benefit shall be based on the single highest year. Informational booklets regarding the retirement plan are available in the Human Resources Department. The City shall maintain its contract with CalPERS to provide a four percent (4%) COLA for retirees. The City will maintain the CalPERS credit (Government Code § 20965) for unused sick leave.
Sample 1

Related to Public Employees Retirement System (CalPERS)

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “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.

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

  • Retirement System The withdrawal of employee contributions made on or after January 1, 2014 may also be withdrawn but only on an actuarially neutral basis. The actuarial present value of the pension reduction shall be equal to the amount of accumulated member contributions withdrawn. The actuarial present value shall computed using the interest rate used in the annual actuarial valuation and the mortality table used in the annual actuarial valuation with a 50% unisex blend.

  • Retroactive Pay for Terminated Employees An employee who has retired or severed his/her employment between the termination date of this Agreement and the effective date of the new Agreement shall receive the full retroactivity of any increase in wages, salaries or other benefits.

  • Pre-Retirement Leave (a) An employee, who is scheduled to retire and to receive a superannuation allowance under the Pension (Public Service) Act, or who has reached the mandatory retiring age, shall be entitled to:

  • Notification of Employees A. Written notice of layoff shall be given to an employee or sent by mail to the last known mailing address at least fourteen (14) calendar days prior to the effective date of the layoff. Notices of layoff shall be served on employees personally at work whenever practicable.

  • Re-employment After Retirement Employees who have reached retirement age as prescribed under the Pension (Municipal) Act and continue in the Employer's service, or are re-engaged within three (3) calendar months of retirement, shall continue at their former increment step in the pay rate structure of the classification in which they are employed, and the employee's previous anniversary date shall be maintained. All perquisites earned up to the date of retirement shall be continued or reinstated.

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