Common use of Required Employee Contribution Clause in Contracts

Required Employee Contribution. ‌ As required by Government Code Section 7522.04(g), SCERA safety members covered by this Section 12.4 shall pay 50 percent (50%) of normal costs. In addition, effective January 1, 2013, SCERA members covered by this Section 12.5 shall pay 3.0 percent (3%) of any compensation from which retirement deductions are required to be made to their employee retirement account. The additional contributions shall be deducted from the employee’s compensation pretax and shall become part of the accumulated retirement contributions of the employees. This contribution to defray the cost of the unfunded accrued actuarial liability will continue until July 2024.

Required Employee Contribution. ‌ As required by Government Code Section 7522.04(g), SCERA safety general members covered by this Section 12.4 12.7 shall pay 50 percent (50%) of normal costs. In addition, effective January 1, 2013, SCERA members covered by this Section 12.5 12.7 shall pay 3.0 3.03 percent (33.03%) of any compensation from which retirement deductions are required to be made to their employee retirement account. The additional contributions shall be deducted from the employee’s compensation pretax and shall become part of the accumulated retirement contributions of the employees. This contribution to defray the cost of the unfunded accrued actuarial liability will continue until July 2024.

Required Employee Contribution. ‌ As required by Government Code Section 7522.04(g), SCERA safety general members covered by this Section 12.4 12.7 shall pay 50 percent (50%) of normal costs. In addition, effective January 1, 2013, SCERA members covered by this Section 12.5 12.7 shall pay 3.0 3.03 percent (33.03%) of any compensation from which retirement deductions are required to be made to their employee retirement account. The additional contributions shall be deducted from the employee’s compensation pretax and shall become part of the accumulated retirement contributions of the employees. This contribution to defray the cost of the unfunded accrued actuarial liability will continue until July 2024.

Required Employee Contribution. ‌ As required by Government Code Section 7522.04(g), SCERA safety members covered by this Section 12.4 shall pay 50 percent (50%) of normal costs. In addition, effective January 1, 2013, SCERA members covered by this Section 12.5 shall pay 3.0 percent (3%) of any compensation from which retirement deductions are required to be made to their employee retirement account. The additional contributions shall be deducted from the employee’s compensation pretax and shall become part of the accumulated retirement contributions of the employees. This contribution to defray the cost of the unfunded accrued actuarial liability will continue until July 2024. 12.6 General Employees Hired Before January 1, 2013 (3% at 60 Enhanced Retirement Program)

Required Employee Contribution. ‌ As required by Government Code Section 7522.04(g), SCERA safety general members covered by this Section 12.4 12.7 shall pay 50 percent (50%) of normal costs. In addition, effective January 1, 2013, SCERA members covered by this Section 12.5 12.7 shall pay 3.0 3.03 percent (33.03%) of any compensation from which retirement deductions are required to be made to their employee retirement account. The additional contributions shall be deducted from the employee’s compensation pretax and shall become part of the accumulated retirement contributions of the employees. This contribution to defray the cost of the retirement plan’s unfunded accrued actuarial liability will continue until July end the last pay period in June 2024.

Required Employee Contribution. ‌ As required by Government Code Section 7522.04(g), SCERA safety members covered by this Section 12.4 shall pay 50 percent (50%) of normal costs. In addition, effective January 1, 2013, SCERA members covered by this Section 12.5 shall pay 3.0 percent (3%) of any compensation from which retirement deductions are required to be made to their employee retirement account. The additional contributions shall be deducted from the employee’s compensation pretax and shall become part of the accumulated retirement contributions of the employees. This contribution to defray the cost of the retirement plan’s unfunded accrued actuarial liability will continue until July end the last pay period in June 2024.

Required Employee Contribution. ‌ As required by Government Code Section 7522.04(g), SCERA safety members covered by this Section 12.4 shall pay 50 percent (50%) of normal costs. In addition, effective January 1, 2013, SCERA members covered by this Section 12.5 shall pay 3.0 percent (3%) of any compensation from which retirement deductions are required to be made to their employee retirement account. The additional contributions shall be deducted from the employee’s compensation pretax and shall become part of the accumulated retirement contributions of the employees. This contribution to defray the cost of the unfunded accrued actuarial liability will continue until July 2024.