Contribution to PERS Sample Clauses

Contribution to PERS. Faculty members shall contribute to the Public Employees

Contribution to PERS. Effective the first full pay period following adoption of this MOU, the City will cease paying any portion of the member’s employee contribution to CalPERS. All New Members (as defined by PEPRA) hired by the City on or after January 1, 2013 will pay the full employee contribution, which will be one-half the normal cost rate as determined by CalPERS. For employees who are members of the City’s 2.5% @ 55, Tier One (1) service retirement formula, the cost of the 8% employee contribution will be paid by the employee, through pre- tax payroll deduction. For employees who are members of the City’s 2.0% @ 55, Tier Two (2) service retirement formula, the cost of the 7% employee contribution will be paid by the employee, through pre- tax payroll deduction.