CalPERS Cost Sharing Sample Clauses

CalPERS Cost Sharing. Effective as soon as administratively possible following ratification by the Union and adoption by the Board, employees who receive the CalPERS 2.7% @ 55 pension benefit will contribute 1.0% towards the employer’s CalPERS required contribution. Effective for the pay period beginning December 20, 2018 employees who receive the CalPERS 2.7% @ 55 pension benefit will contribute an additional 1.0% towards the employer’s CalPERS required contribution, for a total employee contribution of 2.0%.
Sample 1
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CalPERS Cost Sharing. The employer contribution rate is established and adjusted annually by the CalPERS Board. In FY 20-21, the Xxxxxx City employer safety contribution rate is 62.291[WS1]% of pensionable income. In the event that the employer contribution rate exceeds 50% of pensionable income, the City and the Union have agreed that unit employees shall pay 50% of the increase up to a maximum of 5% of pensionable income. For example, should the employer contribution rate increase to 62% of pensionable income, the employees shall pay 5% of pensionable income (their cap) and the City shall pay 57% of pensionable income. This Cost Sharing arrangement shall be made in accordance with California Government Code Section 20156 (f). Contributions made by unit employees shall be on a pre-tax basis. It is expressly understood and agreed that the City has no authority or jurisdiction by which to bind CalPERS, the Internal Revenue Service (IRS), the Franchise Tax Board or any other agency ("Entities”) to a determination that such contributions are indeed pre-tax. Thus the parties acknowledge and agree that the City shall have no liability to any individual unit employee or the collective bargaining unit should any of the aforementioned Entities reject treatment of those contributions as pre-tax.
Sample 1
CalPERS Cost Sharing. Effective the beginning of the last full pay period in fiscal year 2021/22 (which is 06/12/22), Classic Member employees will pay half the normal cost of their pensions, as determined annually by the CalPERS Actuarial Valuation Report, with a total employee contribution cap of 9.14%. The total employee contribution, including any cost sharing, will continue to be in effect beyond expiration of this MOU. Effective the beginning of the last full pay period in fiscal year 2021/22 (which is 06/12/22), each Classic Member employee shall contribute an amount equal to 1.14% of compensation earnable towards the employer PERS contribution, which is separate from, and in addition to, the 8% employee contribution described in Section A.1. above, for a total contribution of 9.14%. As soon as practical, the City will implement this section of this MOU by processing a PERS contract amendment for Cost Sharing, pursuant to Government Code Section 20516. As part of the PERS contract amendment process, PERS requires Classic BCEA members, through secret ballot, to approve the amendment to the PERS contract. If BCEA members do not approve the PERS contract amendment, the City will implement the additional employee contribution set forth in this section as a post taxation deduction from the employees’ pay.
Sample 1
CalPERS Cost Sharing. Effective the beginning of the last full pay period in fiscal year 2021/22 (which is 06/12/22), Classic Member employees will pay half the normal cost of their pensions, as determined annually by the CalPERS Actuarial Valuation Report, with a total employee contribution cap of 9.14%. The total employee contribution, including any cost sharing, will continue to be in effect beyond expiration of this MOU. Effective the beginning of the last full pay period in fiscal year 2021/22 (which is 06/12/22), each Classic Member employee shall contribute an amount equal to 1.14% of compensation earnable towards the employer PERS contribution, which is separate from, and in addition to, the 8% employee contribution described in Section A.1. above, for a total contribution of 9.14%. SECTION B SURVIVOR BENEFITS‌ Effective July 16, 2003, the retirement benefits shall include Fourth Level of 1959 Survivor Benefits under Section 21574 of the California Government Code and Post-Retirement Survivor Allowance to Continue After Remarriage under Section 21266 of the California Government Code. The cost of this benefit will be paid by employees. To the extent that the miscellaneous employees’ surplus, held at PERS, is available to xxxxx the cost payment, then this cost will be made from such funds. (Move from First Level to Fourth Level July 2003) Effective July 16, 2003, the PERS Pre-Retirement Optional Settlement 2 Death Benefit under Section 21548 will be implemented. This will be implemented at no cost to the employee. The spouse of a deceased member, who was eligible to retire from service at the time of death, may elect to receive the Pre-Retirement Optional Settlement 2 Death Benefit in lieu of the lump sum Basic Death Benefit. The benefit is a monthly allowance equal to the amount the member would have received if he/she had retired from service on the date of death and elected Optional Settlement 2, the highest monthly allowance a member can leave a spouse.
Sample 1
CalPERS Cost Sharing. The employer contribution rate is established and adjusted annually by the CalPERS Board. In FY 19-20, the Xxxxxx City employer safety contribution rate is 59.33
Sample 1
CalPERS Cost Sharing. The employer contribution rate is established and adjusted annually by the CalPERS Board. In FY 14-15, the Xxxxxx City employer safety contribution rate is 39.23%. In the event that the employer contribution rate exceeds 50%, the City and POA have agreed that unit employees shall pay 50% of the increase up to a maximum of 5%. This Cost Sharing arrangement shall be made in accordance with California Government Code Section 20156 (f). Contributions made by unit employees shall be on a pre-tax basis. It is expressly understood and agreed that the City has no authority or jurisdiction by which to bind CalPERS, the Internal Revenue Service (IRS), the Franchise Tax Board or any other agency (collective “Entities) to a determination that such contributions are indeed pre-tax. Thus the parties acknowledge and agree that the City shall have no liability to any individual unit employee or the collective bargaining unit should any of the aforementioned Entities reject treatment of said contributions as pre-tax.
Sample 1
CalPERS Cost Sharing. Effective as soon as practical after final ratification of this agreement by the City Council, employees who are Tier 1 retirement benefit employees as defined by Section 11 (“Retirement”) of this agreement (Full-Time Employees hired on or before June 30, 2012) shall receive a general salary increase of four percent (4.0%). Effective the same date, Tier 1 employees shall contribute four percent (4.0%) of total pensionable compensation towards the normal cost of the CalPERS pension benefit. Said employee pickup shall be deducted on a deferred compensation basis. The City shall continue to report four percent (4.0%) as Employer Paid Member Contribution (EPMC) for pensionable compensation purposes. Effective as soon as practical after final ratification of this agreement by the City Council, employees who are Tier 2 retirement benefit employees as defined by Section 11 (“Retirement”) of this agreement (Full-Time Employees hired after June 30, 2012 and before January 1, 2013) shall receive a general salary increase of three percent (3.0%). Effective the same date, Tier 2 employees shall contribute three percent (3.0%) of total pensionable compensation towards the normal cost of the CalPERS pension benefit. Said employee pickup shall be deducted on a deferred compensation basis. General Salary Increase Effective July 1, 2016, all employees covered by this agreement shall receive an across the board general salary increase of two percent (2.0%).
Sample 1
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CalPERS Cost Sharing. Effective July 1 2016, employees who are Tier 1 retirement benefit employees as defined by Section 11 (“Retirement”) of this agreement (Full-Time Employees hired on or before June 30, 2012) shall receive a general salary increase of four percent (4.0%). Effective the same date, Tier 1 employees shall contribute four percent (4.0%) of total pensionable compensation towards the normal cost of the CalPERS pension benefit for a total employee pick-up of eight percent (8.0%). Said employee pickup shall be deducted on a deferred compensation basis. The City shall provide all SEIU Local 721 represented employees covered by this agreement with any greater economic benefits provided to any other City bargaining unit, group, or individual that they may receive during the term of this agreement.
Sample 1

Related to CalPERS Cost Sharing

  • Cost Sharing a) With respect to the funding in C6.1a), should there be an amount of employee co-pay, the Trust shall advise boards what that amount shall be. Unless advised otherwise, there will be no deductions upon the Participation Date.

  • Start-Up Costs 4.1.1 The Government of Ontario will provide:

  • Transportation Expenses (a) When an employee is required to report for work and reports under the conditions described in paragraphs 28.05(c), and 28.06(a), and is required to use transportation services other than normal public transportation services, the employee shall be reimbursed for reasonable expenses incurred as follows:

  • Training Costs All costs and expenses incurred by the Contractor in training as is required under Article 22 of the Contract.

  • Direct Charges To the extent Cash-based Expenses are incurred by the Contractor, the Contractor shall be reimbursed for reasonable and necessary actual direct costs incurred (e.g., equipment, supplies, travel and other costs directly associated with the performance of the Agreement) to the extent required in the performance of the Work and to the extent such costs are anticipated in the Budget. Travel, lodging, meals and incidental expenses shall be reimbursed for reasonable and necessary costs incurred. Costs shall not exceed the daily per diem rates published in the Federal Travel Regulations. Reimbursement for the use of personal vehicles shall be limited to the Internal Revenue Service business standard mileage rate in effect at the time the expense was incurred.

  • CLEC Provided Splitter – Line Sharing 3.4.1 Freedom may at its option purchase, install and maintain central office POTS splitters in its collocation arrangements. Freedom may use such splitters for access to its customers and to provide digital line subscriber services to its customers using the High Frequency Spectrum. Existing Collocation rules and procedures and the terms and conditions relating to Collocation set forth in Attachment 4- Central Office shall apply.

  • Maintenance and Repair – Line Sharing 3.6.1 C.M. shall have access for repair and maintenance purposes to any Loop for which it has access to the High Frequency Spectrum. If C.M. is using a BellSouth owned splitter, C.M. may access the Loop at the point where the combined voice and data signal exits the central office splitter via a bantam test jack. If C.M. provides its own splitter, it may test from the collocation space or the Termination Point.

  • Relocation Expenses 19841 Provides relocation expenses for involuntary transfer or promotion requiring a change in residence.

  • Operating Costs The Assuming Institution agrees, during its period of use of any Leased Data Management Equipment, to pay to the Receiver or to appropriate third parties at the direction of the Receiver all operating costs with respect thereto and to comply with all relevant terms of any existing Leased Data Management Equipment leases entered into by the Failed Bank, including without limitation the timely payment of all rent, taxes, fees, charges, maintenance, utilities, insurance and assessments.

  • Construction Cost Estimate At 50% completion of the contract documents, the design team will present and submit copies of the project plans and manual. The Construction Administrator will prepare and issue the fourth of five construction cost estimates. The estimate shall be derived from actual takeoffs, subcontractor and vendor input, and material and labor cost data. All quantitative systems information shall be provided in detail.

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