Classic Members. Effective July 1, 2015 the DISTRICT will cease paying any portion of the EMPLOYEE share of PERS contributions (EMPLOYEE will pay the full 8%). In exchange, the DISTRICT will provide a four (4) percent increase in salary for all EMPLOYEES covered by this agreement.
Classic Members. The District contracts with CalPERS to provide the 2.5% @ 55 for Local Miscellaneous Members (Classic Members as defined by CalPERS) retirement plan. The District shall contribute to CalPERS at the rate required by law to maintain the Employer's contributions.
Classic Members. Employees covered by this MOU who are defined as “Classic Members” are eligible for retirement benefits based on 2.7% at 55. Employees must have five (5) years of service credit and be a minimum age of 50 for a service retirement.
Classic Members. Effective December 22, 2002, for those “classic” employees (employees who do not qualify as “New Members” under the California Public Employees’ Pension Reform Act of 2013 (“PEPRA”)) who are members of and are required to make an employee contribution to the Alameda County Employee Retirement Association (“ACERA”), the County shall pay a portion of the employee’s contribution to ACERA that equals three percent (3%) of the employee’s salary as an employer paid member contribution (“EPMC”).
Classic Members. The Office will pay the total PERS contribution for eligible probationary and permanent employees hired prior to January 1, 2013, and for employees designated as classic members under the Public Employees’ Pension Reform Act.
Classic Members. (As defined by PEPRA): Metrolink contracts with the California Public Employees' Retirement System (CalPERS). Metrolink shall make the employee contribution of seven percent (7%) in addition to the employer's contribution.
Classic Members. Unit members employed by the District before January 1, 2013 are defined as “Classic” members under the PEPRA and are covered by the 2% @ 55 formula provided for by the Public Employees’ Retirement Law at Government Code section 21354.4. Retirement benefits for employees subject to the 2% @ 55 formula are based on the employee’s highest average annual pensionable compensation over a continuous 12 month period.
Classic Members. As for the first full pay period following July 1, 2018, CalPERS classic members shall contribute the full CalPERS member contribution of 7% unless the percentage is increased by legislation. In addition to paying the entire 7% member contribution, classic members shall pay an additional 1% of the employer share as cost sharing under Government Code section 20516(f) for a total of 8% towards the CalPERS retirement benefit.
Classic Members. 1. All regular full-time and regular part-time NAME members who were appointed prior to January 1, 2013 and all “Classic Members” (as defined by XxxXXXX) are referred herein either as “Classic Members” or as “Classic”.
Classic Members. The City agrees to maintain a two percent (2%) at age Fifty (50) PERS Retirement Plan for the permanent employees who are “classic members”, as defined by XxxXXXX, by paying the PERS employer contribution. Effective July 14, 2013, classic members agree to pay a 4.5% member contribution rate to PERS. Effective July 1, 2014, classic members agree to pay a 7% member contribution rate to PERS. Effective July 1, 2015, classic members agree to pay a 9% member contribution rate to PERS. Employees shall remain responsible for the additional contribution per bi-weekly pay period for the ‘59 Survivor’s Continuance Benefit. The PERS program offered by the City for classic members consists of the PERS basic Safety plan of two percent (2%) at age fifty (50) program plus the ‘59 Survivor’s Continuance Benefit. Effective January 1, 2000, the City agreed to provide the PERS Retirement Employer Paid Member Contribution (EPMC) option of reporting the value of employer paid member contributions to PERS, in accordance with Government Code Section 20636(c). Effective July 14, 2013, this benefit will consist of the City paying 4.5% of (eligible earnings) the PERS member contribution for classic members. Effective July 1, 2014, this benefit will consist of the City paying 2% of (eligible earnings) the PERS member contribution for classic members. Effective July 1, 2015, this benefit will consist of the City paying 0% of the PERS member contribution for classic members. New Members. The City agrees to provide a two and seven/tenths percent (2.7%) at age 57 PERS Retirement Plan for the permanent employees who are “new members”, as defined by XxxXXXX, by paying the PERS employer contribution rate. New members will pay 50% of the total annual normal cost of pension benefits for PERS retirement, rounded to the nearest one quarter of one percent, or the current member contribution paid by similarly situated classic members, whichever is greater, up to 12%. There is no Employer Paid Member Contribution (EPMC) optional benefit for “new members”.
