Common use of Classic Member Clause in Contracts

Classic Member. Employees hired prior to March 19, 2012 shall contribute on a tax deferred basis 8% toward the PERS employee share. Employees hired after March 19, 2012, shall contribute on a tax deferred basis 7% toward the PERS employee share. New Member: Employees hired after January 1, 2013 shall contribute 6.25% or 50% of the total normal cost (whichever is greater) toward the PERS employee share. Both City and employee contributions shall at the time of separation, belong to the employee. All other PERS contract options and policies in effect as of July 1, 2019, shall continue.

Classic Member. Employees hired prior to March 19, 2012 shall contribute on a tax deferred basis 8% toward the PERS employee share. Employees hired after March 19, 2012, shall contribute on a tax deferred basis 7% toward the PERS employee share. New Member: Employees hired after January 1, 2013 shall contribute 6.25% or 50% of the total normal cost (whichever is greater) toward the PERS employee share. Both City and employee contributions shall at the time of separation, belong to the employee. All other PERS contract options and policies in effect as of July 1, 20192014, shall continue.

Classic Member. Employees hired prior to March 19, 2012 shall contribute on a tax deferred basis 8% toward the PERS employee share. Employees hired after March 19, 2012, shall contribute on a tax deferred basis 7% toward the PERS employee share. New Member: Employees hired after January 1, 2013 shall contribute 6.25% or 50% of the total normal cost (whichever is greater) toward the PERS employee share. Both City and employee contributions shall at the time of separation, belong to the employee. All other PERS contract options and policies in effect as of July 1, 2019, 2019 shall continue.

Classic Member. Employees hired prior to March 19, 2012 shall contribute on a tax deferred basis 8% toward the PERS employee share. Employees hired after March 19, 2012, shall contribute on a tax deferred basis 7% toward the PERS employee share. New Member: Employees hired after January 1, 2013 shall contribute 6.25% or 50% of the total normal cost (whichever is greater) toward the PERS employee share. Both City and employee contributions shall at the time of separation, belong to the employee. All other PERS contract options and policies in effect as of July 1, 2019, 2014 shall continue.