Single Highest Year definition

Single Highest Year optional retirement benefit pursuant to Government Code Section 20042;
Sample 1Sample 2Sample 3
Single Highest Year. The City has amended its CalPERS contract to implement a single highest year benefit (one-year final compensation) amendment as to safety individuals employed by the City on or before the May 17, 2011, City Council adoption of the March 1, 2011, MOU between the City and the Brea Police Association. Effective concurrent with May 17, 2011, City Council adoption of the March 1, 2011, MOU, all safety employees subject to the single highest year benefit shall fund that benefit in the amount of 1.62% of CalPERS reportable “compensation earnable.” Said funding shall be by means of a payroll deduction. Unit members hired after the May 17, 2011 City Council adoption of the March 1, 2011, MOU, shall be ineligible for the single highest year benefit.
Sample 1
Single Highest Year. The City has amended its CalPERS contract to implement a single highest year benefit (one-year final compensation) amendment as to safety individuals employed by the City on or before May 17, 2011. All safety employees subject to the single highest year benefit shall fund that benefit in the amount of 1.62% of CalPERS reportable “compensation earnable.” Said funding shall be by means of a payroll deduction. Unit members hired after May 17, 2011 shall be ineligible for the single highest year benefit.
Sample 1

Examples of Single Highest Year in a sentence

  • The City's contract with CalPERS provides for the "Single Highest Year" retirement benefit for which “classic member” employees hired prior to July 1, 2012 in the unit are included per Government Code section 20042.

  • The City's contract with CalPERS provides for the "Single Highest Year" retirement benefit for miscellaneous employees of which “classic member” employees in the unit are included per Government Code section 20042.

  • The City's contract with CalPERS provides for the "Single Highest Year" retirement benefit for which “classic member” employees hired prior to December 31, 2012 in the unit are included per Government Code section 20042.

  • The City's contract with CalPERS provides for the "Single Highest Year" retirement benefit for these employees per Government Code section 20042.

  • Effective June 27, 2013, employees hired prior to December 1, 2011, in Groups 4 & 5, will pay an additional 2% toward their member contributions, and the County will no longer provide or report any EPMC or as compensation to CalPERS.E. Single Highest Year: The provisions of Section 20042 of the Public Employees’ Retirement Law (Single Highest Year) shall apply to all miscellaneous and safety employees covered under the provisions of this Resolution.

  • The City agrees to provide retirement benefits through a contract with the California Public Employees Retirement System (CalPERS) for miscellaneous employees as follows: • Tier I – Employees hired prior to January 1, 2013 - 2.5% @ 55 plan with Single Highest Year Compensation Formula • Tier II – Employees hired January 1, 2013 or later shall be subject to the requirements of the Public Employees Pension Reform Act (PEPRA).

  • The County’s contract with CalPERS provides for the "Single Highest Year" retirement benefit for which “classic member” employees hired prior to August 23, 2012 in the unit are included per Government Code section 20042.

  • Retirement Benefit Calculation Period: The County’s contract with CalPERS provides for the "Single Highest Year" retirement benefit for which “classic member” employees hired prior to August 23, 2012 in the unit are included per Government Code section 20042.

  • The provisions of Section 20042 of the Public Employees’ Retirement Law (Single Highest Year) shall apply to all miscellaneous and safety employees covered under the provisions of this Resolution.

  • For sworn Public Safety Employees, the contract offers the following options: • Tier I - Sworn employees hired prior to January 1, 2013 - 3% at 55 Retirement Plan with Single Highest Year Compensation Formula • Tier II - Sworn employees hired January 1, 2013 or later shall be subject to the requirement s of the Public Employees Pension Reform Act (PEPRA).

Related to Single Highest Year

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Yearly (1/Year) sampling frequency means the sampling shall be done in the month of September, unless specifically identified otherwise in the effluent limitations and monitoring requirements table.

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • Project Year means the 12 month period beginning from the Effective Date and ending 12 months thereafter and each successive 12 month period following thereafter;

  • Year 1 means the year next following the export date and “year” followed immediately by any other numeral has a corresponding meaning; reference in this Agreement to an Act shall include the amendments to such Act for the time being in force and also any Act passed in substitution therefor or in lieu thereof and the regulations for the time being in force thereunder; power given under any clause of this Agreement other than clause 17 hereof to extend any period or date shall be without prejudice to the power of the Minister under the said clause 17; marginal notes shall not affect the interpretation or construction hereof; the phases in which it is contemplated that this Agreement will operate are as follows —

  • Current year means the financial year, which has already commenced, but not yet ended;

  • Year 2 means the year after year 1; year 3 means the year after year 2, year 4 means the year after year 3, and so on; and

  • One-hundred-year flood means a flood having a one per cent chance of being equaled or exceeded in any given year.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Calendar Year means each successive period of twelve (12) months commencing on January 1 and ending on December 31.

  • Relevant Year t means the Financial Year for the purposes of which any calculation falls to be made; "Relevant Year t-1" means the Financial Year preceding Relevant Year t, and similar expressions shall be construed accordingly;

  • Agreement Year means the period of twelve months beginning on the last date of execution of this Agreement or any anniversary thereof;

  • Vapor balance system means a combination of pipes or hoses which create a closed system between the vapor spaces of an unloading tank and a receiving tank such that vapors displaced from the receiving tank are transferred to the tank being unloaded.

  • Year 3 means the tax year preceding the current tax year.

  • Benefit year means the period of twelve consecutive months, July 1 through June 30, as established by an employer in which an employee shall accrue and use earned sick leave as provided pursuant to N.J.S.A. 34:11D-2, provided that once the starting date of the benefit year is established by the employer it shall not be changed unless the employer notifies the Commissioner of Labor and Workforce Development of the change in accordance with regulations promulgated pursuant to the Act. The Commissioner shall impose a benefit year on any employer the Commissioner determines is changing the benefit year at times or in ways that prevent the accrual or use of earned sick leave by an employee.