Common use of Reduction in Reverse Pickup Clause in Contracts

Reduction in Reverse Pickup. 1. Effective the first day of the first full pay period following Board of Supervisors adoption of this MOU, the annual reverse pickup contribution rate for employees in the PEPRA and 1.62% at 65 Classic benefit formulas will be frozen at the fiscal year 2019-2020 rate. The reverse pickup contribution rate for employees in the 2.7% at 55 benefit formula shall continue to be calculated pursuant to Section 2 of this Article.

Reduction in Reverse Pickup. 1. a. Effective the first day of the first full pay period following the Board of Supervisors adoption of this MOU, the annual reverse pickup contribution rate for employees in the PEPRA and 1.622.5% at 65 Classic 67 PEPRA benefit formulas formula will be frozen at the fiscal year 2019-2020 rate. The reverse pickup contribution rate for employees in the 2.7% at 55 classic benefit formula shall continue to be calculated pursuant to Section 2 of this Articleas they currently are.