New Members definition

New Members. As Defined By the Public Employees’ Pension Reform Act of 2013 (PEPRA)

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New Members. For purposes of this section “New Member” is defined by PEPRA to be any of the following (statutory reference is to the California Government Code): (1) An individual who becomes a member of any public retirement system for the first time on or after January 1, 2013, and who was not a member of any other public retirement system prior to that date. (2) An individual who becomes a member of a public retirement system for the first time on or after January 1, 2013, and who was a member of another public retirement system prior to that date, but who was not subject to reciprocity under subdivision (c) of Section 7522.02. (3) An individual who was an active member in a retirement system and who, after a break in service of more than six months, returned to active membership in that system with a new employer. For purposes of this subdivision, a change in employment between state entities or from one school employer to another shall not be considered as service with a new employer. “New Members”, as defined above, are eligible to participate in the County retirement program as contracted through the California Public Employees’ Retirement System (“CalPERS”). The retirement program is integrated with Social Security and the retirement benefit is based on the highest average annual compensation over a three-year period and the 2% @ 62 formula.

New Members as defined by ▇▇▇▇▇ who are hired by the City on or after January 1, 2013 shall be entitled to the retirement formula set forth in PEPRA.

Examples of New Members in a sentence

• PEPRA New Members will continue to fall under PEPRA restrictions.

• For non-safety employees who, under ▇▇▇▇▇, become New Members of the Contra Costa County Employees Retirement Association (CCCERA) on or after January 1, 2013, retirement benefits are governed by the California Public Employees Pension Reform Act of 2013 (PEPRA), (Chapters 296, 297, Statutes of 2012).

• For employees who, under PEPRA, become Safety New Members of CCCERA after January 1, 2013, retirement benefits are governed by the California Public Employees Pension Reform Act of 2013 (PEPRA), (Chapters 296, 297, Statutes of 2012).

• For employees who are hired or rehired by the County before January 1, 2013, or who are initially hired after that date but, under ▇▇▇▇▇, do not become New Members, and who are safety members of CCCERA, the retirement formula shall be “3 percent at 50".

• For employees hired by the County after June 30, 2014, who, under ▇▇▇▇▇, become New Members of CCCERA, the cost of living adjustment to the retirement allowance will not exceed two percent (2%) per year, and the cost of living adjustment will be banked.

More Definitions of New Members

New Members are eligible to participate in the “DC Plan” described in Section 4 below.

New Members as defined by ▇▇▇▇▇ who are hired by the City on or after January 1, 2013 shall be entitled to the retirement formula set forth in PEPRA 23 6.1.3.1 2.0% at 62 Retirement Plan 23 6.1.3.2 PERS Contribution 23

New Members means those tenants who lawfully begin residence at the Project after the date of this Agreement. New Members never become Current Members.

New Members shall have the meaning set forth in Section 2.4.

New Members. Definition

New Members as defined by ▇▇▇▇▇ who are hired by the City on or after January 1, 2013 shall be entitled to the 2.7% at age 57 retirement formula with highest three (3) year average final compensation as set forth in PEPRA.

New Members. Effective the pay period including January 1, 2013, employees shall pay an amount that is equal to one half (1/2) the normal cost of his/hers CalPERS pension, or the current contribution rate of similarly situated employees, whichever is greater.