Retirement Public Employees Retirement System Sample Clauses

Retirement Public Employees Retirement System. The CITY shall enroll ROSE in the Public Employees' Retirement System (PERS) 2% at fifty-five plan. Effective 10/01/2013, CITY will pay on behalf of ROSE 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, ROSE 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 ROSE the "employer's share" of the PERS costs and ROSE 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. ROSE's PERS contributions shall be paid 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 as are provided to other non-represented , Department Head level employees of the CITY.
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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.
Sample 1Sample 2
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.
Sample 1
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.
Sample 1
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.
Sample 1

Related to Retirement Public Employees Retirement System

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Retirement System The withdrawal of employee contributions made on or after January 1, 2014 may also be withdrawn but only on an actuarially neutral basis. The actuarial present value of the pension reduction shall be equal to the amount of accumulated member contributions withdrawn. The actuarial present value shall computed using the interest rate used in the annual actuarial valuation and the mortality table used in the annual actuarial valuation with a 50% unisex blend.

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • RETIREMENT PICK-UP 257. For the term of this Agreement, the CITY shall pick up the full amount of the employees’ contribution to retirement.

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Post Retirement Health Care Benefit Employees who separate from State service and who, at the time of separation are insurance eligible and entitled to immediately receive an annuity under a State retirement program, shall be entitled to a contribution of two hundred fifty dollars ($250) to the Minnesota State Retirement System’s (MSRS) Health Care Savings Plan. Employees who have a HCSP waiver on file shall receive a two hundred fifty dollars ($250) cash payment. If the employee separates due to death, the two hundred fifty dollars ($250) is paid in cash, not to the HCSP. An employee who becomes totally and permanently disabled on or after January 1, 2008, who receives a State disability benefit, and is eligible for a deferred annuity under a State retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. Employees are eligible for this benefit only once.

  • Retirement Programs The Company agrees to provide Employees with the benefits under the Magna Group of Companies Retirement Savings Program as set out in the Employee Retirement Savings Program Booklets.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Non-Vested Retirement Gratuity for Teachers 1. The minimum years of service for retirement gratuity shall be defined as the lesser of the contractual minimal service requirement in the 2008-2012 collective agreement, or ten (10) years.

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