Common use of Retirement Contribution Offsets Clause in Contracts

Retirement Contribution Offsets. a. The following language in paragraphs 2.b. through 5 has been left in the MOU for historical purposes only and has no force and effect during the term of this MOU. b. City agrees to continue to offset or pay for 4.3% of the employee’s portion of the required retirement contribution to SDCERS. The employee, upon termination, will have no vested right in the amount so contributed by City. Substitution of this portion of the employee’s contribution by a City payment will not decrease the total amount applied towards 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. c. City agrees that it will apply an amount that is approximately equal to 7.3% of the base wage of employees covered by this MOU who are SDCERS Safety Members, into the City Retirement System, thereby reducing the amount deducted from employee’s paychecks as the employee’s retirement contribution by that amount. Effective July 1, 2002, this amount for Safety Members will be increased to 9.0%. This increase will remain in effect until the Employee Contribution Reserve is exhausted. Effective July 5, 2003, this amount, for Safety Members, will increase to 10% of base wage. This increase will remain in effect until the Employee Contribution Reserve is exhausted. For SDCERS General Members represented by Local 145, effective July 5, 2003, City agrees that it will apply an additional 1.6%, for a total of 7.0%, of the base wage of employees covered by this MOU, into the Retirement System, thereby reducing the amount deducted from employee’s paychecks as the employee’s retirement contribution by that amount. This increase is to remain in effect until the Employee Contribution Reserve is exhausted. The employee, upon termination, will have no vested right in the amount so contributed by City. Substitution of this portion of the employee’s contribution by a City payment will not decrease the total amount applied towards 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. d. City agrees not to propose reductions in the retirement offset through 2002.

Retirement Contribution Offsets. a. The following language in paragraphs 2.b. through 5 has been left in the MOU for historical purposes only and has no force and effect during the term of this MOU. b. City agrees to continue to offset “pick up” or pay for 4.3% of the employee’s portion of the required retirement contribution to SDCERS. The employee, upon termination, will have no vested right in the amount so contributed by the City. Substitution of this portion of the employee’s contribution by a City payment will not decrease the total amount applied towards 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. c. . The following language has been left in the MOU for historical information purposes only, and is of no force and effect during the term of this MOU. The City agrees that it will apply an amount that is approximately equal to 7.3% of the base wage salary of employees covered by this MOU agreement who are SDCERS Safety Members, into the City Retirement System, thereby reducing the amount deducted from employee’s paychecks as the employee’s retirement contribution by that amount. Effective July 1, 2002, this amount for Safety Members will be increased to 9.0%. This increase will to remain in effect until the Employee Contribution Reserve is exhausted. Effective July 5, 2003, this amount, for Safety Members, will increase to 10% of base wagesalary. This increase will to remain in effect until the Employee Contribution Reserve is exhausted. For SDCERS General Members represented by Local 145, effective July 5, 2003, the City agrees that it will apply an additional 1.6%, for a total of 7.0%, of the base wage salary of employees covered by this MOUagreement, into the City Retirement System, thereby reducing the amount deducted from employee’s paychecks as the employee’s retirement contribution by that amount. This increase is to remain in effect until the Employee Contribution Reserve is exhausted. The employee, upon termination, will have no vested right in the amount so contributed by the City. Substitution of this portion of the employee’s contribution by a City payment will not decrease the total amount applied towards the required retirement contribution, and will not affect retirement benefits providedbenefits. Provided, however, such payment shall not exceed any employee’s total contribution to the Retirement System. d. system. The City agrees not to propose reductions in the retirement offset through 2002.

Retirement Contribution Offsets. a. The following language in paragraphs 2.b. through 5 has been left in the MOU for historical purposes only and has no force and effect during the term of this MOU. b. City agrees to continue to offset or pay for 4.3% of the employee’s portion of the required retirement contribution to SDCERS. The employee, upon termination, will have no vested right in the amount so contributed by City. Substitution of this portion of the employee’s contribution by a City payment will not decrease the total amount applied towards 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. c. City agrees that it will apply an amount that is approximately equal to 7.3% of the base wage salary of employees covered by this MOU who are SDCERS Safety Members, into the City Retirement System, thereby reducing the amount deducted from employee’s paychecks as the employee’s retirement contribution by that amount. Effective July 1, 2002, this amount for Safety Members will be increased to 9.0%. This increase will remain in effect until the Employee Contribution Reserve is exhausted. Effective July 5, 2003, this amount, for Safety Members, will increase to 10% of base wagewage salary. This increase will remain in effect until the Employee Contribution Reserve is exhausted. For SDCERS General Members represented by Local 145, effective July 5, 2003, City agrees that it will apply an additional 1.6%, for a total of 7.0%, of the base wage salary of employees covered by this MOU, into the Retirement System, thereby reducing the amount deducted from employee’s paychecks as the employee’s retirement contribution by that amount. This increase is to remain in effect until the Employee Contribution Reserve is exhausted. The employee, upon termination, will have no vested right in the amount so contributed by City. Substitution of this portion of the employee’s contribution by a City payment will not decrease the total amount applied towards 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. d. City agrees not to propose reductions in the retirement offset through 2002.

Retirement Contribution Offsets. a. The following language in paragraphs 2.b. through 5 has been left in the MOU for historical purposes only and has no force and effect during the term of this MOU. b. City agrees to continue to offset “pick up” or pay for 4.3% of the employee’s portion of the required retirement contribution to SDCERS. The employee, upon termination, will have no vested right in the amount so contributed by the City. Substitution of this portion of the employee’s contribution by a City payment will not decrease the total amount applied towards 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. c. . The following language has been left in the MOU for historical information purposes only, and is of no force and effect during the term of this MOU. The City agrees that it will apply an amount that is approximately equal to 7.3% of the base wage salary of employees covered by this MOU agreement who are SDCERS Safety Members, into the City Retirement System, thereby reducing the amount deducted from employee’s paychecks as the employee’s retirement contribution by that amount. Effective July 1, 2002, this amount for Safety Members will be increased to 9.0%. This increase will to remain in effect until the Employee Contribution Reserve is exhausted. Effective July 5, 2003, this amount, for Safety Members, will increase to 10% of base wagesalary. This increase will to remain in effect until the Employee Contribution Reserve is exhausted. For SDCERS General Members represented by Local 145, effective July 5, 2003, the City agrees that it will apply an additional 1.6%, for a total of 7.0%, of the base wage salary of employees covered by this MOUagreement, into the City Retirement System, thereby reducing the amount deducted from employee’s paychecks as the employee’s retirement contribution by that amount. This increase is to remain in effect until the Employee Contribution Reserve is exhausted. The employee, upon termination, will have no vested right in the amount so contributed by the City. Substitution of this portion of the employee’s contribution by a City payment will not decrease the total amount applied towards the required retirement contribution, and will not affect retirement benefits providedbenefits. Provided, however, such payment shall not exceed any employee’s total contribution to the Retirement System. d. system. The City agrees not to propose reductions in the retirement offset through 2002. 3. 1981 Pension Plan Effective July 1, 1991, for the purpose of benefit calculation only, 1981 Plan service will be made equivalent to CERS Service. 4. C.O.L.A. Effective July 1, 1992, the cost of living adjustment (COLA) for retirees who retired before October 6, 1980, will increase from 1.5% to 2% per year.

Retirement Contribution Offsets. a. The following language in paragraphs 2.b. through 5 has been left in the MOU for historical purposes only and has no force and effect during the term of this MOU. b. City agrees to continue to offset “pick up” or pay for 4.3% 4.3 percent of the employee’s portion of the required retirement contribution to SDCERS. The employee, upon termination, will have no vested right in the amount so contributed by City. Substitution of this portion of the employee’s contribution by a City payment will not decrease the total amount applied towards 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. b. The following language has been left in the MOU for historical information purposes only, and is of no force and effect during the term of this MOU. c. City agrees that it will apply an amount that is approximately equal to 7.3% 7.3 percent of the base wage salary of employees covered by this MOU who are SDCERS Safety Members, into the City Retirement System, thereby reducing the amount deducted from employee’s paychecks as the employee’s retirement contribution by that amount. Effective July 1, 2002, this amount for Safety Members will be increased to 9.0%9.0 percent. This increase will to remain in effect until the Employee Contribution Reserve is exhausted. Effective July 5, 2003, this amount, for Safety Members, will increase to 10% 10 percent of base wagesalary. This increase will to remain in effect until the Employee Contribution Reserve is exhausted. For SDCERS General Members represented by Local 145, effective July 5, 2003, City agrees that it will apply an additional 1.6%1.6 percent, for a total of 7.0%7.0 percent, of the base wage salary of employees covered by this MOU, into the Retirement System, thereby reducing the amount deducted from employee’s paychecks as the employee’s retirement contribution by that amount. This increase is to remain in effect until the Employee Contribution Reserve is exhausted. The employee, upon termination, will have no vested right in the amount so contributed by City. Substitution of this portion of the employee’s contribution by a City payment will not decrease the total amount applied towards 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. d. City agrees not to propose reductions in the retirement offset through 2002.

Retirement Contribution Offsets. a. The following language in paragraphs 2.b. through 5 has been left in the MOU for historical purposes only and has no force and effect during the term of this MOU. b. City agrees to continue to offset or pay for 4.3% of the employee’s portion of the required retirement contribution to SDCERS. The employee, upon termination, will have no vested right in the amount so contributed by City. Substitution of this portion of the employee’s contribution by a City payment will not decrease the total amount applied towards 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. c. City agrees that it will apply an amount that is approximately equal to 7.3% of the base wage of employees covered by this MOU who are SDCERS Safety Members, into the City Retirement System, thereby reducing the amount deducted from employee’s paychecks as the employee’s retirement contribution by that amount. Effective July 1, 2002, this amount for Safety Members will be increased to 9.0%. This increase will remain in effect until the Employee Contribution Reserve is exhausted. Effective July 5, 2003, this amount, for Safety Members, will increase to 10% of base wage. This increase will remain in effect until the Employee Contribution Reserve is exhausted. For SDCERS General Members represented by Local 145, effective July 5, 2003, City agrees that it will apply an additional 1.6%, for a total of 7.0%, of the base wage of employees covered by this MOU, into the Retirement System, thereby reducing the amount deducted from employee’s paychecks as the employee’s retirement contribution by that amount. This increase is to remain in effect until the Employee Contribution Reserve is exhausted. The employee, upon termination, will have no vested right in the amount so contributed by City. Substitution of this portion of the employee’s contribution by a City payment will not decrease the total amount applied towards 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. d. City Xxxx agrees not to propose reductions in the retirement offset through 2002.