Common use of Retirement Contribution Offsets Clause in Contracts

Retirement Contribution Offsets. Upon termination of employment, an employee will have no vested right in employee pension contribution offsets contributed by City. Substitution of this portion of the employees’ contribution by a City payment will not decrease the total amount applied toward the required retirement contribution and will not affect retirement benefits. Provided, however, such payment shall not exceed any employee’s total contribution to the Retirement System.

Retirement Contribution Offsets. Upon termination of employment, an employee will have no vested right in employee pension contribution offsets contributed by the City. Substitution of this portion of the employees’ contribution by a City payment will not decrease the total amount applied toward the required retirement contribution contribution, and will not affect retirement benefits. Provided, however, such payment shall not exceed any employee’s total contribution to the Retirement Systemsystem.

Retirement Contribution Offsets. Upon termination of employment, an employee will have no vested right in employee pension contribution offsets contributed by City. Substitution of this portion of the employees’ contribution by a City payment will not decrease the total amount applied toward the required retirement contribution contribution, and will not affect retirement benefits. Provided, however, such payment shall not exceed any employee’s total contribution to the Retirement System.