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 The withdrawal of employee contributions made on or after January 1, 2014 may also be withdrawn but only on an actuarially neutral basis. The actuarial present value of the pension reduction shall be equal to the amount of accumulated member contributions withdrawn.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.
Retirement System. 23 (1) For employees hired on and after January 1, 1982, the provisions of Chapter 201.24, 24 Employees’ Retirement System, shall be modified as follows:
Retirement System. Unit members are provided retirement benefits under the California Public Employee Retirement System (CalPERS) as described in this Article.
Retirement System. The Employer and the employee shall make contributions in accordance with the provisions of the Plan. (P/T)
Retirement System. All faculty members shall participate in the State Teachers Retirement System (STRS) or the Public Employees Retirement System (PERS) pursuant to applicable rules and regulations of the STRS or PERS. A faculty member shall have deducted from his or her payroll warrant that percent of eligible wages specified by STRS or PERS for employee contributions. The District shall pay that percent of eligible wages specified by STRS or PERS for the employers.
Retirement System. The Corporation and the Employees shall make contributions in accordance with the provisions of the plan.
Retirement System. The City shall provide the following retirement coverage through the California Public Employees Retirement System (CalPERS).
Retirement System. Beginning in January of 1982, the City of Porterville contracted with the California Public Employees’ Retirement System (PERS) to provide various retirement benefits for its employees. The City began paying the employee contribution on July 1, 1985. The City’s Contract with PERS was amended, effective July 1, 1998, to provide the 2% at 50 Retirement Plan for Local Safety Members, and Safety Employees began paying the full employee contribution rate on that date. Effective July 1, 1999, the City began paying the 4% of the Safety Employees’ contribution. The employee contribution and earnings, irrespective of who pays them, remain the property of the employee, but may not be withdrawn other than upon retirement or separation from City employment. (Resolution 49-99) The City Council delegates the City Manager authority to make determination under Section 21023.6, Government Code, on behalf of the Agency, regarding a local safety member’s disability and whether such disability is industrial and to certify such determinations and all other necessary information to the Public Employees’ Retirement System. (Resolution 9717) The PERS maintains each employee’s account and provides a statement annually of contributions and interest earned. Benefits provided by this retirement program includes survivor benefits, normal retirement benefits, disability retirement and industrial disability retirement for Local Safety Employees. (Resolution 49-99) Effective August 1, 2002, the City of Porterville will pay 8.5% of the 9% monthly share of the Employees Retirement Contribution to the California Public Employees’ Retirement System, computed as a percentage of salary, for all full-time Fire Series Employees. (Resolution 116- 2002) Effective September 1, 2002, the City of Porterville will pay the 9.0% monthly Employee Retirement Contribution to the California Public Employees’ Retirement System, computed as a percentage of salary , for all full-time Fire Series Employees. (Resolution 141-2002) Effective February 1, 2006, the employee’s share of the monthly CalPERS contribution, i.e., 9%, shall be converted to salary for all Fire Series employees, providing all eligible Fire Series employees participate in paying the employee’s pre-taxed monthly retirement contribution of 9% on the same date as the salary conversion.(Resolution 16-2006) Effective July 1, 2006, the City will amend its contract with CalPERS to provide all eligible Fire Series employees and unrepresented Fire Man...
Retirement System. Employees who work thirty-five hours or more a week are required to join the contributory pension plan of the City, NH Retirement System, as a condition of employment. The contribution rate will be determined by the NH Retirement System and all applicable laws and regulations shall apply. Group I members shall also be enrolled in the social security system.
Retirement System. They may voluntarily choose to be members of the health and accident insurance program.
