SAFE HARBOR RETIREMENT PLAN. CNA accepts the County's "Safe Harbor" retirement plan and agrees that said plan is offered in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act.
SAFE HARBOR RETIREMENT PLAN. The Union agrees that the County's "Safe Harbor" retirement plan is in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act.
SAFE HARBOR RETIREMENT PLAN. VCPPOA accepts the County's "Safe Harbor" Retirement Plan and agrees that said plan is offered in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act. Sec. 406 RETIREMENT STATUS OF “PROBATION UNIT” EMPLOYEES: The parties agree that effective October 13, 2002, “Probation Unit” Employees were deemed to be prospectively eligible for the benefits provided “safety” members of the VCERA. The parties further agree that for all times and/or hours worked prior to that date, such “Probation Unit” employees were not, and cannot in the future be legitimately considered as having been, eligible for said “safety” status. Also effective October 13, 2002, such employees were no longer eligible for benefits of “FICA” (Social Security). The parties recognize that one result of this change in status is that those employed prior to October 13, 2002, will have a “blended” retirement, including both “safety” and “non-safety” service. The parties also recognize that since some Probation Unit Employees were previously “Tier I” “non-safety” members of VCERA while others were “Tier II” “non- safety” members, there may be variations in the individual calculations as- sociated with the change from “non-safety” to “safety” status. Finally, the parties recognize that the change to “safety” status did and will alter their respective financial obligations as set forth in Section 402.
More Definitions of SAFE HARBOR RETIREMENT PLAN
SAFE HARBOR RETIREMENT PLAN. VEA agrees the County's "Safe Harbor" retirement plan is in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act.
SAFE HARBOR RETIREMENT PLAN. This is a retirement plan for employees working less than 64 hours per biweekly pay period. UAPD agrees the County’s “Safe Harbor” retirement plan is in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA) for employees not eligible for coverage under the provisions of the 1937 Retirement Act.
SAFE HARBOR RETIREMENT PLAN. VCPPOA accepts the County's "Safe Harbor" Retirement Plan and agrees that said plan is offered in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act.
SAFE HARBOR RETIREMENT PLAN. Local 721 agrees the County's/APCD’s "Safe Harbor" retirement plan is in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act. Sec. 404 RETIREMENT INCENTIVE - 30 YEAR EMPLOYEES: Regular, full-time employees who have thirty (30) years or more of regular County/APCD service and are no longer subject to retirement deductions, shall be paid a one percent (1%) retirement incentive, based on the employee’s base pay, on a biweekly basis. This incentive shall be taxable and not be considered part of the employee's base hourly rate of pay/salary. Payments made under the provisions of this section shall be calculated at the hourly rate of pay/salary rate in effect at the time such payment is made.
SAFE HARBOR RETIREMENT PLAN. Local 998 agrees the County's "Safe Harbor" retirement plan is in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act. The County agrees to a Labor Management Committee to study the Safe Harbor Plan and the ability of employees to purchase/convert Safe Harbor credit into the Ventura County Employees Retirement Plan once they become eligible for the County’s plan. Sec. 404 RETIREMENT INCENTIVE - 30 YEAR EMPLOYEES: Regular, full-time employees who have thirty years or more of regular County service and are no longer subject to retirement deductions, shall be paid a four percent (4%) retirement incentive on a biweekly basis. This incentive shall be taxable and not be considered part of the employee's base hourly rate of pay/salary. Payments made under the provisions of this Section shall be calculated at the hourly rate of pay/salary rate in effect at the time such payment is made.