Salary Offsets for Increased Retirement Contributions (Historical. Effective July 6, 2014, in order to accomplish the changed noted in Section 403, the pay/salary ranges of represented classifications were, and the pay/salary of each represented employee was, increased by: a. The percentage amount equal to the percentage value of eliminating the retirement pick-up; and b. The percentage value of employees participating in the 50/50 cost- sharing of the normal cost of retirement contributions. c. The value of the salary offsets (in a and b above) were as approximate as possible to result in a cost neutral “exchange” for both the County and employee.
Appears in 3 contracts
Samples: Memorandum of Agreement, Memorandum of Agreement, Memorandum of Agreement
Salary Offsets for Increased Retirement Contributions (Historical. Effective July 6, 2014, in order to accomplish the changed noted in Section 403, the pay/salary ranges of represented classifications were, and the pay/salary of each represented employee was, increased by:
a. The percentage amount equal to the percentage value of eliminating the retirement pick-up; and
b. The percentage value of employees participating in the 50/50 cost- cost-sharing of the normal cost of retirement contributions.
c. The value of the salary offsets (in a a. and b b. above) were as approximate as possible to result in a cost neutral “exchange” for both the County and employee.
Appears in 1 contract
Samples: Memorandum of Agreement
Salary Offsets for Increased Retirement Contributions (Historical. Effective July 6, 2014, in order to accomplish the changed noted in Section 403, the pay/salary ranges of represented classifications were, and the pay/salary of each represented employee was, increased by:
a. The percentage amount equal to the percentage value of eliminating the retirement pick-up; and
b. The percentage value of employees participating in the 50/50 cost- sharing of the normal cost of retirement contributions.
c. The value of the salary offsets (in a a. and b b. above) were as approximate as possible to result in a cost neutral “exchange” for both the County and employee.
Appears in 1 contract
Samples: Memorandum of Agreement
