Common use of Employee Contribution Toward Retiree Medical Obligation Unfunded Liability Clause in Contracts

Employee Contribution Toward Retiree Medical Obligation Unfunded Liability. Effective the pay period after ratification. all coded employees shall contribute on a biweekly basis fifteen dollars ($15) toward the retiree medical obligation unfunded liability. Such contributions are to be made on a pre-tax basis, and employees shall have no vested right to the contributions made by the employees. Such contributions shall be used by the County exclusively to offset a portion of the County’s annual required contribution amount to the California Employers Retirement Benefit Trust established for the express purpose of meeting the County’s other post- employment benefits (OPEB) obligations and shall not be used for any other purpose.

Employee Contribution Toward Retiree Medical Obligation Unfunded Liability. Effective with the pay period after ratification. paycheck beginning August 12, 2011, all coded employees shall contribute on a biweekly basis fifteen dollars ($15) toward an amount equivalent to 1.0% of the lowest cost early retiree medical obligation unfunded liabilitypremium rate. Such contributions are to be made on a prean after-tax basis, basis and employees shall have no vested right to the contributions made by the employees. Such contributions shall be used by the County exclusively to offset a portion of the County’s annual required contribution amount to the California Employers Retirement Benefit Trust established for the express purpose of meeting the County’s other post- post employment benefits (OPEB) obligations and shall not be used for any other purpose.

Employee Contribution Toward Retiree Medical Obligation Unfunded Liability. Effective with the pay period after ratification. beginning June 24, 2013, all coded employees shall contribute on a biweekly basis fifteen dollars ($15) toward an amount equivalent to 7.5% of the lowest cost early retiree medical obligation unfunded liabilitypremium rate. Such contributions are to be made on a pre-tax basis, and employees shall have no vested right to the contributions made by the employees. Such contributions shall be used by the County exclusively to offset a portion of the County’s annual required contribution amount to the California Employers Retirement Benefit Trust established for the express purpose of meeting the County’s other post- post-employment benefits (OPEB) obligations and shall not be used for any other purpose.