Employee Contributions to Other Post-Employment Benefits (OPEB) Sample Clauses

Employee Contributions to Other Post-Employment Benefits (OPEB). Confidential Employees will continue making contributions to the OPEB Trust via payroll deductions with a current employee contribution rate of 4% of basic compensation. These contributions will be made on a pre-tax basis. The first pay period beginning in January 2021 employees will pay 50% of normal cost of the OPEB benefit based on the most recent fiscal year actuarial valuation, but in no event shall the amount of the contribution be increased or decreased by more than 0.2% (two tenths of one percent) of base salary in any year. Any change in contribution rate, based on the most recent fiscal year actuarial valuation, will be effective the first pay period beginning in January of each calendar year thereafter. Further, the parties agree that the District retains the sole responsibility of funding the remainder of the Annual Required Contribution (ARC) for the OPEB program, which includes the portion of the Normal Cost not addressed by Employee OPEB Contributions. Should the District, for any reason, not fully fund the remaining portion of the ARC, it will not cause the employee contribution to be increased to more than what is described above. For transparency purposes, an annual audited accounting of all contributions (employee and employer) shall be completed, and funding progress will be reported and made generally available.
Sample 1
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Employee Contributions to Other Post-Employment Benefits (OPEB). Unrepresented Employees will continue making contributions to the OPEB Trust via payroll deductions with a current employee contribution rate of 2.2% of basic compensation. These contributions will be made on a pre-tax basis. The first pay period beginning in January 2023 employees will pay 50% of normal cost of the OPEB benefit after excluding the actuarily determined implicit subsidy, reduced further by
Sample 1

Related to Employee Contributions to Other Post-Employment Benefits (OPEB)

  • Employee Contributions (a) Each participant shall be allowed to contribute on a bi-weekly basis up to an amount equal to eighty percent (80%) of the Participant’s wage. Such bi-weekly wage deductions shall be in increments of one percent (1%) and shall be contributed to the Participant’s account. The participant may contribute on a pre-tax, after-tax, Xxxx basis or any combination.

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

  • ' COMPENSATION BENEFITS In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • Voluntary employee contributions (i) Subject to the governing rules of the relevant superannuation fund, an employee may, in writing, authorise their employer to pay on behalf of the employee a specified amount from the post- taxation wages of the employee into the same superannuation fund as the employer makes the superannuation contributions provided for in Clause 24(b).

  • Employment Benefits In addition to the Salary payable to the Executive hereunder, the Executive shall be entitled to the following benefits:

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Employee Contribution Eligible employees shall contribute one percent (1%) of their salary on a per pay period basis to the HCSP.

  • Employee Compensation The wages, salaries and other compensation paid to employees who will be employed for the benefit of the Project, and to others who perform special services for the benefit of the Project, to the extent not otherwise paid through a Cash Management System, shall be paid by Owner from a Project Account pursuant to this Section 9.2.

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

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