Retirement Public Employees Retirement System. The CITY shall enroll XXXXXX in the Public Employees' Retirement System (PERS) 2% at fifty-five plan. Effective 10/01/2013, CITY will pay on behalf of XXXXXX the "employer's share" of the PERS costs and three percent (3.0%) of the "employee's share" of the PERS costs. Effective 10/01/2013, XXXXXX shall pay the remaining four percent (4.0%) of the "employee's share" of PERS retirement costs through bi-weekly pre-taxed payroll deductions. Effective 10/01/2014 , CITY will pay on behalf of XXXXXX the "employer's share" of the PERS costs and XXXXXX shall pay an additional three percent (3.0%) of the "employee's share" of the PERS costs, which equates to the full seven percent (7.0%) "employee's share" of PERS retirement costs. XXXXXX'x PERS contributions shall be paid through bi-weekly pre-taxed payroll deductions. In the event the CITY voluntarily joi ns or is required by law to joi n the Federal Social Security System , XXXXXX shall be treated in the same manner as all City employees . Should the PERS plan be amended by the City Council in the future , XXXXXX would be automatically entitled to receive such benefits.
Retirement Public Employees Retirement System. The CITY shall enroll XXXXXXXXX in the Public Employees' Retirement System (PERS) 2% at fifty-five plan. CITY will pay on behalf of XXXXXXXXX the "employer's share" of the PERS costs and XXXXXXXXX shall pay the seven percent (7.0%) "employee's share" of PERS retirement costs through bi-weekly pre-taxed payroll deductions. In the event the CITY voluntarily joins or is required by law to join the Federal Social Security System, XXXXXXXXX shall be treated in the same manner as all City employees. Should the PERS plan be amended by the City Council in the future, XXXXXXXXX would be automatically entitled to receive such benefits.
Retirement Public Employees Retirement System. XXXXXXXX shall be a member of the City's retirement plan adopted and existing pursuant to its contract with the State of California Public Employees Retirement System ("PERS"). City shall pay the full amount of the required employer's contribution for the benefit of XXXXXXXX, and XXXXXXXX shall pay the full amount of the employee's required contribution consistent with other City employees deemed Classic Members by PERS. In the event that other City employees deemed Classic Members by PERS are required to pay an additional amount of pay toward unfunded pension liability pension costs, then WISNESKI shall pay the same amount. In the event the CITY voluntarily joins or is required by law to join the Federal Social Security System, XXXXXXXX shall be treated in the same manner as all City employees. Should the CalPERS plan be amended by the City Council in the future, XXXXXXXX would be automatically entitled to receive such amended benefits.
Retirement Public Employees Retirement System. The CITY shall enroll ROSE in the Public Employees' Retirement System (PERS) 2% at fifty-five plan. CITY will pay on behalf of ROSE the "employer's share" of the PERS costs, and ROSE shall pay the seven percent (7.0%) "employee's share" of PERS retirement costs through bi-weekly pre-taxed payroll deductions. In the event the CITY voluntarily joins or is required by law to join the Federal Social Security System, ROSE shall be treated in the same manner as all City employees. Should the PERS plan be amended by the City Council in the future, ROSE would be automatically entitled to receive such benefits.
Retirement Public Employees Retirement System. The CITY shall enroll XXXXXXXX in the California Public Employees’ Retirement System (CalPERS) 2% at fifty-five plan. CITY will pay on behalf of XXXXXXXX the “employer’s share” of the CalPERS costs and XXXXXXXX shall pay the “employee’s share” of CalPERS retirement costs, through bi-weekly pre-taxed payroll deductions. Effective July 1, 2020, the employee’s share of CalPERS retirement costs is 7.0% plus an additional 1.25% for unfunded liability (totaling 8.25%); and increasing an additional 0.75% for unfunded liability effective 07/01/2021 (totaling 9.0%). In the event the CITY voluntarily joins or is required by law to join the Federal Social Security System, XXXXXXXX shall be treated in the same manner as all City employees. Should the CalPERS plan be amended by the City Council in the future, XXXXXXXX would be automatically entitled to receive such benefits.
Retirement Public Employees Retirement System. The CITY shall enroll XXXXXXXXX in the Public Employees' Retirement System (PERS) 2% at fifty-five plan. CITY will pay on behalf of XXXXXXXXX the "employer's share" of the PERS costs and XXXXXXXXX shall pay the seven percent (7.0%) "employee's share" of PERS retirement costs through bi-weekly pre-taxed payroll deductions. Should City employees represented by the Xxxx Point Employees Association agree to contribute an additional amount beyond the employee share of PERS, which is currently 7% of base pay, XXXXXXXXX agrees to contribute an additional, like amount. In the event the CITY voluntarily joins or is required by law to join the Federal Social Security System, XXXXXXXXX shall be treated in the same manner as all City employees. Should the PERS plan be amended by the City Council in the future, XXXXXXXXX would be automatically entitled to receive such benefits.
