PERS Contract definition

PERS Contract means the contract, as amended from time to time, entered into by the Borrower and PERS pursuant to the Retirement Law obligating the Borrower to make contributions to PERS in exchange for PERS providing retirement benefits to certain Borrower employees.
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PERS Contract has the meaning assigned that term in the Recitals to this Trust Agreement.
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PERS Contract means the contract dated April 5, 1960, between the Local Agency and the System, as heretofore and hereafter amended from time to time.
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Examples of PERS Contract in a sentence

  • The County will work with CalPERS to process a PERS Contract Amendment, which would credit this additional contribution towards the employee’s account.

  • Full-time and Part-time employees of the District shall continue as members of the District’s current California Public Employees Retirement System (PERS) Contract to provide for 2% at 55 Supplemental or Modified Formula for Local Miscellaneous Members.

  • The City may exempt temporary employees from the PERS Contract and add a PERS payroll code to simplify payroll.

  • The City participates in two retirement plans (with tiers within such plans) under the PERS Contract.

  • From time to time, the City may enter into (i) one or more other trust agreements or indentures and/or (ii) one or more agreements supplementing and/or amending this Trust Agreement, for the purpose of providing for the issuance of Additional Bonds to refund the Bonds or to refund all or any portion of any Unfunded Liability under the PERS Contract arising subsequent to the issuance of the Bonds or any other obligations due to PERS.

  • The Bonds may be issued by the City under the terms of this Trust Agreement only to refund the PERS Contract and to pay the Costs of Issuance in connection with the issuance of the Bonds.

  • PERS Fourth-Level 1959 Survivor Benefits (PERS Contract Section 21574) (Sworn) Effective October 17, 2010, the PERS contract was am ended so that members will receive the Fourth-Level 1959 Survivor Benefits.

  • The parties also agreed to process a PERS Contract Amendment, which would credit this additional contribution towards the employee's account.

  • The proceeds of the Bonds will be used to: (i) refund the City’s obligations to PERS evidenced by the two retirement plans in which the City participates pursuant to the PERS Contract and representing the current unfunded accrued liability (the “Unfunded Liability”) with respect to certain pension benefits under the Retirement Law, and (ii) pay certain costs associated with the issuance and delivery of the Bonds.

  • These cost shares will be in addition to the employee-paid PERS Member Contribution of 50 percent of normal cost and in addition 0.148 percent of salary pension contribution which is associated with the Fourth-Level 1959 Survivor Benefits (PERS Contract Section 21574).


More Definitions of PERS Contract

PERS Contract means the contract, as amended from time to time, entered into by the City and PERS pursuant to the Retirement Law obligating the City to make contributions to PERS in exchange for PERS providing retirement benefits to certain City employees.
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Related to PERS Contract

  • Customer Contract means a Contract (or group of related Contracts) pursuant to which any Group Company, after giving effect to the Pre-Closing Business Transfers, licenses or otherwise provides products and services to customers of the Business.

  • Services Contract means an agreement for the provision of Services entered into with a Provider by one or more of the Partners in accordance with the relevant Individual Scheme. Service Users means those individual for whom the Partners have a responsibility to commission the Services. SOSH means the Secretary of State for Health.

  • Service Contract means, with respect to a Financed Vehicle, the agreement, if any, financed under the related Receivable that provides for the repair of such Financed Vehicle.

  • Assumed Contracts has the meaning set forth in Section 2.1(d).