Public Employment Retirement (PERS) Contributions Sample Clauses

Public Employment Retirement (PERS) Contributions. 1. If PERS or the Nevada State Legislature takes any action to increase the total contribution rate in any single year in an amount of two percent (2%) or less during the term of this Agreement, the County will pay one-half of the increase, up to one percent (1%), and the employee’s salary will be reduced by one-half of the increase, up to one percent (1%). However, the County will increase the employee’s salary on the effective date of the reduction in salary in an amount equal to the reduction made to the employee’s salary.
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Related to Public Employment Retirement (PERS) Contributions

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

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