Retirement COLA Cost Sample Clauses

Retirement COLA Cost. Employees hired on or after August 7, 2011 will pay fifty percent (50%) of the Retirement COLA cost as determined by SamCERA. COLA costs are included in the Plan 7 statutory rate. Effective July 5, 2015, all employees will pay fifty percent (50%) of the Retirement COLA cost as determined by SamCERA.
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Retirement COLA Cost. Retirement COLA: Employees hired on or after August 7, 2011 will pay 50% of the Retirement COLA cost as determined by SamCERA. COLA costs are included in the Plan 7 statutory rate. Effective July 5, 2015, all employees will pay fifty percent (50%) of the Retirement COLA cost as determined by SamCERA. Effective July 5, 2015, all employees will receive a one percent (1%) salary increase to offset the additional employee payment toward retirement COLA. Any agreements reached with AFSCME or SEIU regarding retirement plans shall be extended to this MOU. The intent of this paragraph is to memorialize a “me-too” agreement regarding retirement plan changes entered into with AFSCME. In the event that AFSCME Local 829 or SEIU Local 521 negotiates a termination of the employee retirement cost sharing provision, cost sharing will also be terminated for employees represented by BCTC on the same effective date as that negotiated by AFSCME or SEIU. Retirement Plan 2 participants will be eligible for a maximum annual cost of living adjustment to the retirement benefit of three percent (3%) per year. There is no "banking" or "roll-over" of any cost of living adjustment in excess of the annual adjustment. Retirement Plan 4 participants hired on or after July 13, 1997, will be eligible for a maximum annual cost of living adjustment to the retirement benefit of two percent (2%) per year. There is no "banking" or "roll-over" of any cost of living adjustment in excess of the annual adjustment. The participants’ retirement annuity shall be calculated based on their average salary for 36 highest consecutive months.  One and one-half percent (1.5%) salary increase after the employee achieves the equivalent of ten (10) years of full time County service (20,800 hours)  An additional one and one-half percent (1.5%) salary increase (for a total of three percent (3%)) after the employee achieves the equivalent of twenty (20) years of full time County service (41,600 hours)  An additional one percent (1%) salary increase (for a total of four percent (4%) after the employee achieves the equivalent of twenty-five (25) years of full time County service 52,000 hours)
Sample 1

Related to Retirement COLA Cost

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.02(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or the Government Employees Compensation Act prevents her from receiving Employment Insurance or Québec Parental Insurance Plan maternity benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.02(a), other than those specified in sections (A) and (B) of subparagraph 17.02(a)(iii), shall be paid, in respect of each week of maternity allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of her weekly rate of pay and the gross amount of her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.02 for a combined period of no more than the number of weeks during which she would have been eligible for maternity benefits under the Employment Insurance or Québec Parental Insurance Plan had she not been disqualified from Employment Insurance or Québec Parental Insurance maternity benefits for the reasons described in subparagraph (a)(i).

  • Maternity Leave Allowance ‌ (a) An employee who qualifies for maternity leave pursuant to Clause 21.1, shall be paid a maternity leave allowance in accordance with the Supplemental Employment Benefit (SEB) Plan. In order to receive this allowance, the employee must provide to the Employer, proof that she has applied for and is eligible to receive employment insurance benefits pursuant to the Employment Insurance Act. An employee disentitled or disqualified from receiving employment insurance benefits is not eligible for maternity leave allowance. (b) Pursuant to the Supplemental Employment Benefit (SEB) Plan, the maternity leave allowance will consist of 15 weekly payments equivalent to the difference between the employment insurance gross benefits and any other earnings received by the employee and 85% of the employee's basic pay.

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.05(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long-term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or via the Government Employees Compensation Act prevents the employee from receiving Employment Insurance or Québec Parental Insurance Plan benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.05(a), other than those specified in sections (A) and (B) of subparagraph 17.05(a)(iii), shall be paid, in respect of each week of benefits under the parental allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of the employee's rate of pay and the gross amount of his or her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.05 for a combined period of no more than the number of weeks during which the employee would have been eligible for parental, paternity or adoption benefits under the Employment Insurance or Québec Parental Insurance Plan, had the employee not been disqualified from Employment Insurance or Québec Parental Insurance Plan benefits for the reasons described in subparagraph (a)(i).

  • Living Away From Home Allowance When Employees are to be engaged on a Project requiring them to live away from home, the provisions of Appendix I will apply in determining their entitlement and the conditions whilst they are living away from home.

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Uniform Allowance Where uniforms are required, the Hospital shall either supply and launder uniforms or provide a uniform allowance of per year in a lump sum payment in the first pay period of November of each year.

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

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