Retirement Offset. 1. Each employee shall pay, via payroll deduction, the amount prescribed by the rate established for each employee’s contribution for the appropriate General benefit Tier into the appropriate fund in accordance with the rules and regulations governing such employee contributions excepting that the County will contribute the below rates but no more than the employee’s established rate, to the fund on behalf of the General employee covered by this Agreement. In the event that the employee’s rate is less than the rate indicated below, the employee shall not be credited with the difference. Effective July 1, 2012: Retirement Contribution Offset – Tier A/1 Union Code Employees who have less than 5 yrs. of continuous service: Employees who have at least 5 yrs. of continuous service: CM 1.5% 3.0% Retirement Contribution Offset – Tier B Union Code Employees who have less than 5 yrs. of continuous service: Employees who have at least 5 yrs. of continuous service: CM 1% 2.0% No Offset. Upon termination, employees shall have no vested right in the amount of retirement funds contributed by the County on their behalf. Effective the payday of December 27, 2013, employees shall receive a salary adjustment as specified in the chart below: All employees at Step 5 or above of the salary range 2.0% increase to the Step 5 or above of the salary schedule All employees at Steps 1-4 1.0% increase to all other steps Effective June 9, 2017, the offset shall be eliminated. Effective June 9, 2017, all employees shall receive a wage increase as an even exchange for the remaining offset elimination. The amount of this even exchange shall be based on the Fiscal Year 2016-17 Adopted Budget for the bargaining unit and will be determined by converting the amount appropriated for offset to a percentage of the total salaries and benefits. Total salaries and benefits shall include base salary, supplemental pay, employer retirement contributions, other post-employment benefits, OASDI and Medicare. The amount of this increase for employees will be cost neutral to the County and in no way shall it result in a cost increase to the County.
Retirement Offset. Effective January 4, 2015, and in conjunction with both (a) the cessation of all employer “payments” of any portion of an employee’s required retirement contribution set forth in Section 402 as well as the reduction in the Retirement Incentive for 30-Year Employees set forth in Section 403, and (b) the requirement that represented employees prospectively share (on a 50:50 basis) in their actuarially-determined “normal” cost of retirement, the base salary range of all classifications in this unit, and each employee therein, was increased by 3.05
Retirement Offset. 1. Notwithstanding the above, unless modified by subsection A.2 herein below, the County will offset a portion of the employee's prescribed rate. The County shall, therefore, contribute a portion as described below, of each employee's prescribed amount, but no more than the employee's established rate. In the event that the employee's rate is less than the portion described below, the employee shall not be credited with the difference. Upon termination, employees shall have no vested right in the amount of the retirement funds contributed by the County on their behalf. More than 5 years: 3% Less than 5 years: .75% More than 5 years: 2% Less than 5 years: .25% No Offset.
2. Effective the final pay period in FY 2016/2017, all retirement offset shall be eliminated.
3. a. Further, upon completion of five (5) full years of continuous service in the County retirement system, the employee shall receive the full retirement offset, in which case, subsection A.1. hereinabove shall apply.
Retirement Offset. 1. Notwithstanding the above and unless modified by subsection A.2 herein below, the County will offset a portion of the employee's prescribed rate. The County shall, therefore, contribute a portion as described below, of each employee's prescribed amount, but no more than the employee's established rate. In the event that the employee's rate is less than the portion described below, the employee shall not be credited with the difference. Upon termination, employees shall have no vested right in the amount of the retirement funds contributed by the County on their behalf.
2. Effective the final pay period in FY 2016/2017, all retirement offset shall be eliminated. Effective June 9, 2017, the final pay period in FY 2016-2017, all employees shall receive a wage increase of 2% as an even exchange with parity for the remaining offset elimination. The parties have determined this provision is cost neutral to the County.
3. a. Upon completion of at least five (5) years of continuous service in the County retirement system, the employee shall receive the full retirement offset in which case, subsection A.1 hereinabove shall apply.
Retirement Offset. 1. The County shall adopt the employee contribution rates set as recommended by the Board of Retirement. The employee shall pay, via payroll deduction, the amount prescribed by the rate established for each employee's contribution for the appropriate General or Safety benefit Tier into the appropriate fund in accordance with the rules and regulations governing such employee contributions, excepting that for the PO unit, unless modified by Section 1.E.2 herein below. Upon termination, employees shall have no vested right in the amount of retirement funds contributed by the County on their behalf.
a. One-half Retirement Offset: Effective June 19, 1998 through completion of at least five (5) years of continuous service in the retirement system, employees shall receive one-half of the retirement offset provided for in Section 1.E.1 above.
Retirement Offset. Tier A: Effective December 27, 2013: Reduce offset to 0.00% Tier B: Effective December 27, 2013: Reduce offset to 0.00% Tier C: No offset
Retirement Offset. 1. Each employee shall pay, via payroll deduction, the amount prescribed by the rate established for each employee’s contribution for the appropriate General Benefit Tier into the appropriate fund in accordance with the rules and regulations governing such employee contributions excepting that the County will contribute the below rates but no more than the employee’s established rate, to the fund on behalf of the General employee covered by this Agreement. In the event that the employees rate is less than the rate indicated below, the employee shall not be credited with the difference. Effective June 9, 2017, the County’s retirement contribution offset shall be eliminated. Tier C: No Offset. Upon termination, for all tiers listed above, employees shall have no vested right in the amount of retirement funds contributed by the County on their behalf.
2. a. One-half Retirement Offset: Effective June 19, 1998 through completion of at least five (5) years of continuous service in the retirement system, employees shall receive one-half of the retirement offset provided for in Section 1.A.1 above.
Retirement Offset. 1. Each employee shall pay, via payroll deduction, the amount prescribed by the rate established for each employee’s contribution for the appropriate General benefit Tier into the appropriate fund in accordance with the rules and regulations governing such employee contributions excepting that the County will contribute a portion as described below, to the fund on behalf of the General employee covered by this Agreement. In the event that the employee’s rate is less than the portion described below, the employee shall not be credited with the difference. Retirement Contribution Offset – Tier A/1 Union Code Employees who have less than 5 yrs. of continuous service: Employees who have at least 5 yrs. of continuous service:
Retirement Offset. 1. Each employee shall pay, via payroll deduction, the amount prescribed by the rate established for each employee’s contribution for the appropriate General benefit Tier into the appropriate fund in accordance with the rules and regulations governing such employee contributions excepting that the County will contribute the below rates but no more than the employee’s established rate, to the fund on behalf of the General employee covered by this Agreement. In the event that the employee’s rate is less than the rate indicated below, the employee shall not be credited with the difference. Effective June 9, 2017, the County’s retirement contribution offset shall be eliminated for all bargaining units. Tier C: No Offset. Upon termination, for all tiers listed above, employees shall have no vested right in the amount of retirement funds contributed by the County on their behalf.
2. a. One-half Retirement Offset: Effective June 19, 1998 through completion of at least five (5) years of continuous service in the retirement system, employees shall receive one-half of the retirement offset provided for in Section 1.A.1 above.
Retirement Offset. 1. Unless modified by Section 1.A.2. hereinbelow, and notwithstanding the above, the County will offset a portion of the employee's prescribed rate. The County shall, therefore, contribute the below rates, but no more than the employee's established rate. In the event that the employee's rate is less than the rate indicated below, the employee shall not be credited with the difference. Upon termination, employees shall have no vested right in the amount of the retirement funds contributed by the County on their behalf. Effective June 9, 2017, the County’s retirement contribution offset shall be eliminated. Tier C: No Offset. Upon termination, for all tiers listed above, employees shall have no vested right in the amount of retirement funds contributed by the County on their behalf.
2. a. For employees employed in classifications covered by this agreement on or after July 5, 1996, one half of the retirement offset provided for in Section 1.A.1. above shall be paid until that employee qualifies by having completed at least five (5) years of continuous service in the County retirement system. Upon completion of at least five (5) years of continuous service in the County retirement system, the employee shall receive the full retirement offset established in subsection A of this Section.
