Examples of Tier 2 Employees in a sentence
The Administrator (as defined in Section 3 below) shall select the Tier 1 Employees and Tier 2 Employees who may participate in the Plan (a “Participant”).
Classic – Tier 2: Employees hired on or after July 1, 2012, and who are recognized as “Classic” members, are covered by the 2%@60 retirement formula.
Tier 2 Employees (current employees) are defined as those individuals employed in a full-time position with the City of Fountain Valley beginning August 16, 2009 through August 15, 2010.
The Administrator (as defined in Section 3 below) shall select the Tier 1 Employees and Tier 2 Employees who may participate in the Plan (a "Participant").
Members of the executive management team of the Company ("Tier 1 Employees") and other key employees of the Company ("Tier 2 Employees") are eligible to participate in the Plan.
Tier 2: Employees hired on or after January 1, 2013 and who are defined by the Public Employees ’ Pension Act (PEPRA) as “new members: ” The retirement formula is two percent (2%) at 62 years of age.
To meet that standard, WCE-represented Tier 2 Employees will continue to make the required employee contribution (with no EPMC) of 7% for Local Miscellaneous, but will also contribute (in a phased in manner) to the employer’s side (Government Code (GC) section 20516) to reach the CalPERS standard of equal sharing of normal costs.
Tier 2: Employees hired on or after January 1, 2013, and who are defined by the Public Employees ’ Pension Act (PEPRA) as “new members.
Tier 2 Employees will be covered by the Fourth level of 1959 Survivors’ Benefit Program (Government Code Section 21574), Survivor Continuance allowance; credit for unused sick leave; fifty percent (50%) ordinary disability benefit and military service credit buy back option.
Tier 2 Employees - Tier 2 will include current employees (15-16) with more than 26 years of experience, employees whose salary would decrease with placement on the new salary schedule, or employees whose salary increase would be less than $600 on the Tier I schedule.