Safety Employees Retirement Benefit – Tier A – Employees Who Become Members of CCCERA Before January 1, 2013 Sample Clauses

Safety Employees Retirement Benefit – Tier A – Employees Who Become Members of CCCERA Before January 1, 2013. A. For County employees who become safety members of CCCERA before January 1, 2013, or who are not new members under XXXXX, the retirement formula shall be “3 percent at 50”. The cost of living adjustment (COLA) to the retirement allowance shall not exceed three (3) percent per year. The employee’s final compensation shall be calculated based on a twelve (12) month salary average. This retirement benefit is known as Tier A. Each such employee shall pay nine percent (9%) of his or her retirement base to pay part of the employer’s
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Safety Employees Retirement Benefit – Tier A – Employees Who Become Members of CCCERA Before January 1, 2013. A. For County employees who become safety members of CCCERA before January 1, 2013, or who are not new members under XXXXX, the retirement formula shall be “3 percent at 50”. The cost of living adjustment (COLA) to the retirement allowance shall not exceed three (3) percent per year. The employee’s final compensation shall be calculated based on a twelve (12) month salary average. This retirement benefit is known as Tier A. Each such employee shall pay nine percent (9%) of his or her retirement base to pay part of the employer’s contribution for the cost of this retirement benefit. B. Effective July 1, 2012, and through December 31, 2014, each employee in Tier A shall pay four and half percent (4.5%) of his or her retirement base to pay part of the employer’s contribution for the cost of the Tier A retirement benefit. C. Effective January 1, 2015, and through June 29, 2015, each employee in Tier A shall pay two and a quarter percent (2.25%) of his or her retirement base to pay part of the employer’s contribution for the cost of the Tier A retirement benefit. D. Effective June 30, 2015, the employee’s payment of two and a quarter percent (2.25%) of his/her retirement base to pay part of the employer’s contribution for the cost of the Tier A retirement benefit will cease.
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Related to Safety Employees Retirement Benefit – Tier A – Employees Who Become Members of CCCERA Before January 1, 2013

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.05(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long-term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or via the Government Employees Compensation Act prevents the employee from receiving Employment Insurance or Québec Parental Insurance Plan benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.05(a), other than those specified in sections (A) and (B) of subparagraph 17.05(a)(iii), shall be paid, in respect of each week of benefits under the parental allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of the employee's rate of pay and the gross amount of his or her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.05 for a combined period of no more than the number of weeks during which the employee would have been eligible for parental, paternity or adoption benefits under the Employment Insurance or Québec Parental Insurance Plan, had the employee not been disqualified from Employment Insurance or Québec Parental Insurance Plan benefits for the reasons described in subparagraph (a)(i).

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