Common use of Additional Employee PERS Contributions Clause in Contracts

Additional Employee PERS Contributions. Effective the first full pay period following July 1, 2019 or as soon as administratively possible, all employees regardless of pension formula in this unit shall contribute an additional 0.5% to the Employer share of pension for a total of 3.5% contribution toward the Employer share of pension. (Total Employee contribution will be 12.5% for Classic; 50% of Normal Cost plus 3.5% for PEPRA.) • Additional contributions will coincide with the City amending its contract with CalPERS to reflect these changes. However, should CalPERS delay or the City of Palo Alto and PAPOA July 1, 2018 – June 30, 2021 Association fail to approve the CalPERS amendment required to incorporate the additional 0.5% contribution, the City may implement the additional 0.5% effective July 1, 2019 without a contract amendment., and additional employee PERS contributions under CalPERS 20516 will be provided on a pre-tax basis to the extent allowable by law.

Additional Employee PERS Contributions. Effective the first full pay period following July 1, 2019 or as soon as administratively possible, all employees regardless of pension formula in this unit shall contribute an additional 0.5% to the Employer share of pension for a total of 3.5% contribution toward City of Palo Alto and PAPOA April 10, 2023 – June 30, 2025 the Employer share of pension. (Total Employee contribution will be 12.5% for Classic; 50% of Normal Cost plus 3.5% for PEPRA.) • Additional contributions will coincide with the City amending its contract with CalPERS to reflect these changes. However, should CalPERS delay or the City of Palo Alto and PAPOA July 1, 2018 – June 30, 2021 Association fail to approve the CalPERS amendment required to incorporate the additional 0.5% contribution, the City may implement the additional 0.5% effective July 1, 2019 without a contract amendment., and additional employee PERS contributions under CalPERS 20516 will be provided on a pre-tax basis to the extent allowable by law.