Common use of Required Employee Contribution Clause in Contracts

Required Employee Contribution. Members covered by this section 7.11.3 will contribute 50% of normal costs as established by CalPERS for the 2.0% @ 62 Pension Formula. The required contribution amount was 6.25% as of the date of this MOU. In the event employee contribution rates are adjusted by CalPERS during the term of this MOU, the employee contribution will be recalculated based upon the updated required employee contribution rate established by CalPERS.

Required Employee Contribution. Members covered by this section 7.11.3 will contribute 50% of normal costs as established by CalPERS for the 2.0% @ 62 Pension Formula. The required contribution amount was 6.25% as of the date of this MOU. In the event employee contribution rates are adjusted by CalPERS XxxXXXX during the term of this MOU, the employee contribution will be recalculated based upon the updated required employee contribution rate established by CalPERSXxxXXXX.

Required Employee Contribution. Members covered by this section 7.11.3 7.9.3 will contribute 50% of normal costs as established by CalPERS for the 2.0% @ 62 Pension Formula. The required contribution amount was 6.25% as of the date of this MOU. In the event employee contribution rates are adjusted by CalPERS XxxXXXX during the term of this MOU, the employee contribution will be recalculated based upon the updated required employee contribution rate established by CalPERSXxxXXXX.

Required Employee Contribution. Members covered by this section 7.11.3 7.9.3 will contribute 50% of normal costs as established by CalPERS for the 2.0% @ 62 Pension Formula. The required contribution amount was 6.25% as of the date of this MOU. In the event employee contribution rates are adjusted by CalPERS during the term of this MOU, the employee contribution will be recalculated based upon the updated required employee contribution rate established by CalPERS.

Required Employee Contribution. Members covered by this section 7.11.3 7.9.3 will contribute 50% of normal costs as established by CalPERS for the 2.0% @ 62 Pension Formula. The required contribution amount was 6.256.75% as of the date of this MOU. In the event employee contribution rates are adjusted by CalPERS during the term of this MOU, the employee contribution will be recalculated based upon the updated required employee contribution rate established by CalPERS.