Common use of Required Employee Contribution Clause in Contracts

Required Employee Contribution. ‌ SCERA members covered by this Section 12.4 will contribute the amount required by SCERA as employee contributions, and shall continue to contribute an additional three 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 they shall become part of the accumulated retirement contributions of the employees. This contribution to defray the cost of the unfunded accrued actuarial liability for any past service due to the enhanced retirement programs will continue until July 2024.

Required Employee Contribution. ‌ SCERA members covered by this Section 12.4 12.6 will contribute the amount required by SCERA as employee contributions, and shall continue to contribute an additional three 3.03 percent (33.03%) of any compensation from which retirement deductions are required to be made under the 1937 Act to their employee retirement account. The This additional contributions contribution shall be deducted from the employee’s employees’ compensation pretax and they shall become part of the accumulated retirement contributions of the employees. This contribution to defray the cost of the unfunded accrued actuarial liability for any past service due to the enhanced retirement programs will continue until July 2024. Represented employees covered by this Section 12.6 also will pay a pretax statutory contribution of approximately 1% to 1.25%, contingent upon age of entry into the retirement system.

Required Employee Contribution. ‌ SCERA members covered by this Section 12.4 will contribute the amount required by SCERA as employee contributions, and shall continue to contribute an additional three 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 they shall become part of the accumulated retirement contributions of the employees. This contribution to defray the cost of the unfunded accrued actuarial liability for any past service due to the enhanced retirement programs will continue until July 2024.

Required Employee Contribution. ‌ SCERA members covered by this Section 12.4 12.6 will contribute the amount required by SCERA as employee contributions, and shall continue to contribute an additional three 3.03 percent (33.03%) of any compensation from which retirement deductions are required to be made under the 1937 Act to their employee retirement account. The This additional contributions contribution shall be deducted from the employee’s employees’ compensation pretax and they shall become part of the accumulated retirement contributions of the employees. This contribution to defray the cost of the unfunded accrued actuarial liability for any past service due to the enhanced retirement programs will continue until July 2024.. Represented employees covered by this Section

Required Employee Contribution. ‌ SCERA members covered by this Section 12.4 12.6 will contribute the amount required by SCERA as employee contributions, and shall continue to contribute an additional three 3.03 percent (33.03%) of any compensation from which retirement deductions are required to be made under the 1937 Act to their employee retirement account. The This additional contributions contribution shall be deducted from the employee’s employees’ compensation pretax and they shall become part of the accumulated retirement contributions of the employees. This contribution to defray the cost of the unfunded accrued actuarial liability for any past service due to the enhanced retirement programs will continue until July 2024. Represented employees covered by this Section 12.6 also will pay a pretax statutory contribution of approximately 1% to 1.25%, contingent upon age of entry into the retirement system.