Common use of Required Employee Contribution Clause in Contracts

Required Employee Contribution. SCERA members covered by this Section 20.7.1 will contribute the amount required by SCERA as employee contributions, and shall continue to pay an additional 3.03% of pay, pretax, to their employee retirement account. This 3.03% of pay contribution of the employee’s pensionable compensation shall be paid as part of the County’s contribution to pay for the unfunded accrued actuarial liability resulting from past service. This additional 3.03% contribution will continue until July 2024. Employees also will continue to pay a pretax statutory contribution of approximately 1% or slightly more, contingent upon age of entry into the retirement system.

Required Employee Contribution. ‌ SCERA members covered by this Section 20.7.1 27.1 will contribute the amount required by SCERA as employee contributions, and shall continue to pay an additional 3.03% of pay, pretax, to their employee retirement account. This 3.03% of pay contribution of the employee’s pensionable compensation shall be paid as part of the County’s contribution to pay for the unfunded accrued actuarial liability resulting from past service. This additional 3.03% contribution will continue until July 2024. Employees also will continue to pay a pretax statutory contribution of approximately 1% or slightly more, contingent upon age of entry into the retirement system.

Required Employee Contribution. SCERA members covered by this Section 20.7.1 will contribute the amount required by SCERA as employee contributions, and shall continue to pay an additional 3.03% of pay, pretax, to their employee retirement account. This 3.03% of pay contribution of the employee’s pensionable compensation shall be paid as part is intended to defray the cost of the Countyretirement plan’s contribution to pay for the unfunded accrued actuarial liability resulting from past serviceliability. This additional 3.03% contribution will continue until July 2024unless modified by mutual agreement between the County and ESC. Employees also will continue to pay a pretax statutory contribution of approximately 1% or slightly more, contingent upon age of entry into the retirement system.

Required Employee Contribution. ‌ SCERA members covered by this Section 20.7.1 42.2 will contribute the amount required by SCERA as employee contributions, and shall continue to pay an additional 3.03% of pay, pretax, to their employee retirement account. This 3.03% of pay contribution of the employee’s pensionable compensation shall be paid as part of the County’s contribution to pay for the unfunded accrued actuarial liability resulting from past service. This additional 3.03% contribution will continue until July 2024. Employees also will shall continue to pay a pretax statutory contribution of approximately 11.0% or slightly more, contingent upon age of entry into the retirement system.

Required Employee Contribution. ‌ SCERA members covered by this Section 20.7.1 17.2 will contribute the amount required by SCERA as employee contributions, and shall continue to pay an additional 3.03% of pay, pretax, to their employee retirement account. This 3.03% of pay contribution of the employee’s pensionable compensation shall be paid as part of the County’s contribution to pay for the unfunded accrued actuarial liability resulting from past service. This additional 3.03% contribution will continue until July 2024. Employees also will continue to shall pay a pretax statutory contribution of approximately 11.0% or slightly more, contingent upon age of entry into the retirement system.

Required Employee Contribution. SCERA members covered by this Section 20.7.1 27.1 will contribute the amount required by SCERA as employee contributions, and shall continue to pay an additional 3.03% of pay, pretax, to their employee retirement account. This 3.03% of pay contribution of the employee’s pensionable compensation shall be paid as part of the County’s contribution to pay for the unfunded accrued actuarial liability resulting from past service. This additional 3.03% contribution will continue until July 2024. Employees also will continue to pay a pretax statutory contribution of approximately 1% or slightly more, contingent upon age of entry into the retirement system.

Required Employee Contribution. SCERA members covered by this Section 20.7.1 17.2 will contribute the amount required by SCERA as employee contributions, and shall continue to pay an additional 3.03% of pay, pretax, to their employee retirement account. This 3.03% of pay contribution of the employee’s pensionable compensation shall be paid as part of the County’s contribution to pay for the unfunded accrued actuarial liability resulting from past service. This additional 3.03% contribution will continue until July 2024. Employees also will continue to shall pay a pretax statutory contribution of approximately 11.0% or slightly more, contingent upon age of entry into the retirement system.

Required Employee Contribution. SCERA members covered by this Section 20.7.1 42.2 will contribute the amount required by SCERA as employee contributions, and shall continue to pay an additional 3.03% of pay, pretax, to their employee retirement account. This 3.03% of pay contribution of the employee’s pensionable compensation shall be paid as part of the County’s contribution to pay for the unfunded accrued actuarial liability resulting from past service. This additional 3.03% contribution will continue until July 2024. Employees also will shall continue to pay a pretax statutory contribution of approximately 11.0% or slightly more, contingent upon age of entry into the retirement system. 42.3 Retirement – Employees Hired On Or After January 1, 2013