Examples of Contribution Rate in a sentence
The benefit shall be based upon the following PERS Local Miscellaneous formulas, as follows: Tier 1-PERS 2% @ 55 Full time employees and PERS eligible part time employees hired on or before March 23, 2012 shall contribute 7% of their salary toward the Employee Contribution Rate.
Effective the first full pay period following approval by the District Board of this MOU amendment, employees who are members of SJCERA Tier 1 shall pay the Basic Member Contribution Rate applicable to their member category plus the increase in that rate as specified in Government Code Section 31631.5 (a) (1), not to exceed 50% of the normal cost of benefits.
Tier 2 -2% @ 60 Full time employees and PERS eligible part time employees hired after March 23, 2012 shall contribute 7% of their salary toward the Employee Contribution Rate.