CalPERS. In order to comply with the Public Employees’ Pension Reform Act of 2013 (“PEPRA”), Executive will be enrolled in the 2.5% @ 55 Public Employees Retirement System and will be subject to such terms and conditions as Watermaster may contract for with CalPERS or may otherwise impose, including the following: Watermaster will initially contribute both the employer portion of the CalPERS Retirement contribution and the employee portion, up to 8%, provided that the Watermaster Board reserves discretion as to the amount of future CalPERS contributions on behalf of the Executive that are attributable to future salary increases.
Appears in 2 contracts
Sources: Employment Agreement, Employment Agreement