Classic Member definition

Classic Member. Employees

Classic Member means: a unit member who entered into membership with a qualifying public retirement system on or before December 31, 2012 who do not meet the definition of “New Member” under Government Code § 7522.04(f) and related CalPERS membership requirements. Status as a classic member shall be determined by CalPERS.

Classic Member. A classic member is defined as an employee who meets the definition of a “classic” member for purposes of retirement pension benefits in accordance with the Public Employees Pension Reform Act of 2013. Generally, this includes employees that were hired before January 1, 2013 in the California Public Employees Retirement System (CalPERS) or a reciprocal retirement system with no break in service longer than six months. XxxXXXX ultimately determine who is a classic member in compliance with the law. a. The City shall provide for Classic member employees, hired prior to March 19, 2012 shall receive the 2.5% at 55 formula (First Tier). Classic member employees hired after March 19, 2012, shall receive 2% at 55 (Second Tier).

Examples of Classic Member in a sentence

• For purposes of this section "Classic Member" is defined as a member who does not meet the definition of a "New Member" as defined by PEPRA.

• CHAPTER 2:Important phone numbersand resources SECTION 1 SCAN Classic contacts(how to contact us, including how to reach Member Services) How to contact our plan’s Member ServicesFor assistance with claims, billing, or member card questions, please call or write to SCAN Classic Member Services.

• The retirement benefits for each employee identified by PERS as a Classic Member are calculated based upon the employee's highest one year's compensation, pursuant to the provisions of Section 20024.2 of the California Government Code.

• B Tier One: 2.7% at 55 Retirement Program – Bargaining Unit Members Hired On or Before December 31, 2012 and Unit Members Qualified for Reciprocity (Classic Member) This Section B, including subsections, shall apply to bargaining unit members hired on or before December 31, 2012.

• CHAPTER 2:‌Important phone numbersand resources SECTION 1 SCAN Classic contacts(how to contact us, including how to reach Member Services) How to contact our plan’s Member ServicesFor assistance with claims, billing, or member card questions, please call or write to SCAN Classic Member Services.

More Definitions of Classic Member

Classic Member is defined as any of the following: • A new hire that was brought into CalPERS membership for the first time before January 1, 2013. • A new hire who is brought into CalPERS membership for the first time on or after January 1, 2013, and who was a member with another qualifying public retirement system prior to January 1, 2013, and is eligible for reciprocity. • A member who first established CalPERS membership prior to January 1, 2013, and who is rehired (by a different CalPERS employer) after a break in service of less than six months.

Classic Member is defined as a member who does not meet the definition of a "New Member" as defined by XXXXX. Employees who are “Classic Members”, as defined above, are eligible to participate in the City retirement program who does not meet the definition of a “New Member” as defined by XXXXX. Employees who are “Classic Members”, as defined above, are eligible to participate in the City retirement program as provided for in the City contract with CalPERS.

Classic Member. Employees Subject to the 3% @ 55 Formula Effective the first pay period of January 2018 or as soon as a contract amendment is adopted with CalPERS, safety classic employees shall pay an additional one and one half percent (1.5%) of the employer contribution towards their retirement benefit as employer cost sharing in accordance with Government Code section 20516, for a total of twelve percent (12%).

Classic Member. Employees Subject to the 3%@55 and 2.5% @ 55 retirement formulas. Pursuant to the CalPERS contract amendment, safety and miscellaneous classic employees shall pay three percent (3.0%) of the employer contribution towards their retirement benefit as employer cost sharing in accordance with Government Code section 20516. If, at any time in the future, Teamsters, Local 1932 informs the District that it no longer agrees to this cost sharing agreement, effective on the date of the elimination of the cost sharing (which would need to coincide with the expiration date of the MOU) the employees’ base salary would be reduced by twelve percent (12%) for safety classic employees and eleven percent (11%) for miscellaneous classic employees. It is agreed that this cost-sharing of the employer CalPERS contribution is a key component of this Agreement. This cost-sharing will maintain the integrity of the EPMC on a pre-tax basis. Part of the contract amendment process required by XxxXXXX is that all affected employees must cast a vote for the CalPERS contract amendment. As the cost-sharing will be accomplished in two (2) separate increments, this vote will have to be taken two (2) times during the term of this Agreement. Should the employees at any point during the term of this Agreement, not vote for this the PERS cost-sharing contract amendment, any salary increases and/or medical increases due subsequent to the vote will not be implemented as salary and benefit increases were authorized based on the employee cost-sharing of PERS contributions outlined above.

Classic Member. Miscellaneous Unit Members

Classic Member a corporation that (i) was a Pre-Spin-off Member and (ii) becomes a member of the Classic Group at the beginning of the day immediately after the Distribution Date.

Classic Member is typically defined as an employee who was hired on or before December 31, 2012, or is a member of a reciprocal retirement system.