Employee Contribution Rate. The employee contribution rate is currently 9% (8% statutory employee contribution plus 1% pickup of the employer rate). Effective as soon as practicable, Employees shall pay 2.0% of PERSable compensation on behalf of the employer (i.e., the employee contribution shall be 8% and the employee contribution towards the employer share shall be 2.0%, increasing the employee contribution to 10%). Such amount shall be deducted from the employee's paycheck. The parties understand that this provision must be implemented for all non-safety personnel at the same time. CalPERS requires a contract amendment and a separate vote of all affected employees to implement an increase in the employee contribution rate. If affected employees do not approve the additional 1% contribution, it will be made as a reduction in base wage for bargaining unit members.
Employee Contribution Rate. Less than 2 years 0¢ per hour *2 years but less than 8 years 22¢ per hour 8 or more years 40¢ per hour *Employee contributions are to commence the earlier of: • The first (1st) day of the month following completion of two (2) years of continuous service with one (1) or more Participating Employer; or, • January 1st of the year following two (2) consecutive calendar years if, in each of these calendar years, an employee has either completed at least three hundred fifty (350) hours of employment with one (1) or more Participating Employer; or, earned at least thirty-five (35%) percent of the Year’s Maximum Pensionable Earnings with one (1) or more Participating Employer.
Employee Contribution Rate. Employee contributions are two percent (2%) of compensation received, deducted biweekly from paychecks. Employees hired on or after January 1, 2000, shall contribute six and one-half percent (6.5%) of compensation received, deducted biweekly from paychecks. As soon as administratively feasible February 26, 2013, the County will reduce the pre-tax compensation of each employee by seven percent (7%) deducted bi- weekly which the County will contribute to the Genesee County Employees’ Retirement System as an Employer contribution.
Employee Contribution Rate. Employee contributions are five percent (5%) of their annual compensation deducted biweekly.
Employee Contribution Rate. The mandatory employee contribution rate for employees who do not select the Annuity Withdrawal option, shall be 4.0% of all earnings. The City agrees to an employer pick-up through salary reduction of the employee’s required Pension Plan contribution, pursuant to Section 414(h) of the Internal Revenue Code of 1986.
Employee Contribution Rate. Contributions beyond the CPP maximum remain unchanged at four percent (4%) at employee=s cost.
Employee Contribution Rate. The following contribution rates only apply to "legacy" employees hired prior to January 1, 2013, and those hired on or after January 1, 2013 that are eligible for reciprocity with another California public retirement system. Employees hired on or after January 1, 2013 and are not eligible for reciprocity with another California public retirement system, or who are otherwise " new employees" or "new members," as defined under the California Public Employee Pension Reform Act ("PEPRA"), will be subject to the retirement contribution required by XXXXX. As of January 1, 2013, PEPRA requires that the contribution rate shall be at least 50% of the normal cost of the pension benefit. Information regarding the retirement plan for such employees, including the current contribution rate, can be found in the EBMUD Retirement Handbook. • Effective April 18, 2016, the employee contribution rate will be 8.75%
Employee Contribution Rate. Employees shall contribute the following amounts toward the monthly premium for their health care coverage/program beginning January 1, 2014: Ten percent (10%) per month
Employee Contribution Rate. The employee’s contribution to the retirement system shall be 5.5% of the compensation paid him by the City. Effective January 1, 1996, the pension multiplier will be raised by 1.1% to 2.6%.
Employee Contribution Rate. Employee contributions are one-half of one percent (.5%) of their annual compensation deducted biweekly from paychecks. Employees hired on or after July 1, 1996, are not eligible to participate in the GCERS Defined Benefit Plan.
