Common use of Employee Contribution Rate Clause in Contracts

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. 1. All employee contributions required by CalPERS shall be made by the City by deducting the amount of the total CalPERS employee contribution from the salary of the employee. The City shall implement the provisions of section 414(h)(2) of the Internal Revenue Code ("IRC") for the employee contributions deducted from the salary of employees. This shall not be construed as a guarantee by the City of the existence or continuation of any tax benefits arising from this section of the IRC, nor shall the City indemnify any employee against any loss that may result from any different interpretation, change or elimination of the relevant sections of the IRC. 2. The City shall exercise its best efforts to extend the provisions of section 414(h)(2) to deductions of employee compensation covering the employees’ share of the CalPERS contributions. 3. The City shall continue to contract with CalPERS to include the twelve (12) highest paid consecutive months in computing retirement consistent with the California Public Employees' Retirement Law. 4. The City shall continue to contract with CalPERS to provide for conversion of unused sick leave to service credit upon an employee's retirement. 5. The City shall continue to contract with CalPERS to provide that bargaining unit members may "buy back" time served on active duty with the United State military and hourly temporary workers prior to employment with the City according to CalPERS rules and regulations on a cost-neutral basis to the City.

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 '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. 1. All employee contributions required by CalPERS shall be made by the City by deducting the amount of the total CalPERS employee contribution from the salary of the employee. The City shall implement the provisions of section 414(h)(2) of the Internal Revenue Code ("IRC") for the employee contributions deducted from the salary of employees. This shall not be construed as a guarantee by the City of the existence or continuation of any tax benefits arising from this section of the IRC, nor shall the City indemnify any employee against any loss that may result from any different interpretation, change or elimination of the relevant sections of the IRC. 2. The City shall exercise its best efforts to extend the provisions of section 414(h)(2) to deductions of employee compensation covering the employees’ ' share of the CalPERS contributions. 3. The City shall continue to contract with CalPERS to include the twelve (12) highest paid consecutive months in computing retirement consistent with the California Public Employees' Retirement Law. 4. The City shall continue to contract with CalPERS to provide for conversion of unused sick leave to service credit upon an employee's retirement. 5. The City shall continue to contract with CalPERS to provide that bargaining unit members may "buy back" time served on active duty with the United State military and hourly temporary workers prior to employment with the City according to CalPERS rules and regulations on a cost-neutral basis to the City.twelve

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 '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. 1. All employee contributions required by CalPERS ▇▇▇▇▇▇▇ shall be made by the City by deducting the amount of the total CalPERS employee contribution from the salary of the employee. The City shall implement the provisions of section 414(h)(2) of the Internal Revenue Code ("IRC") for the employee contributions deducted from the salary of employees. This shall not be construed as a guarantee by the City of the existence or continuation of any tax benefits arising from this section of the IRC, nor shall the City indemnify any employee against any loss that may result from any different interpretation, change or elimination of the relevant sections of the IRC. 2. The City shall exercise its best efforts to extend the provisions of section 414(h)(2) to deductions of employee compensation covering the employees’ ' share of the CalPERS contributions. 3. The City shall continue to contract with CalPERS to include the twelve (12) highest paid consecutive months in computing retirement consistent with the California Public Employees' Retirement Law. 4. The City shall continue to contract with CalPERS to provide for conversion of unused sick leave to service credit upon an employee's retirement. 5. The City shall continue to contract with CalPERS to provide that bargaining unit members may "buy back" time served on active duty with the United State military and hourly temporary workers prior to employment with the City according to CalPERS rules and regulations on a cost-neutral basis to the City.twelve