Employee PERS Contributions Clause Samples
The Employee PERS Contributions clause defines the responsibilities regarding contributions to the Public Employees Retirement System (PERS) for employees covered under the agreement. Typically, this clause specifies whether the employer or the employee is responsible for making the required retirement contributions, and may outline the percentage or amount to be contributed from each party. By clearly allocating the obligation for PERS contributions, this clause ensures compliance with retirement system requirements and prevents disputes over payment responsibilities.
Employee PERS Contributions. Tier One - employees shall contribute eight percent (8%) of Base Salary to the PERS retirement plan. • Tier Two - employees shall contribute seven percent (7%) of Base Salary to the PERS retirement plan. • Tier Three – new members shall contribute fifty percent (50%) of the total normal cost, unless otherwise determined annually by ▇▇▇▇▇▇▇, of the PERS retirement plan.
Employee PERS Contributions. (a) Employees will be responsible for payment of the Employee contribution to the Public Employees Retirement System (PERS).
(b) In addition to the applicable required CalPERS employee contribution, APA members have agreed to share in the employer contributions as provided in Government Code Section 20516 (Employees Sharing Additional Cost) 12.1.7 PERS MISCELLANEOUS (NON-SWORN) EMPLOYEE RETIREMENT PLANS FORMULA EMPLOYEE CONTRIBUTION GOVT. CODE 20516 COST SHARING TOTAL 2.7%@55 8% 3% 11% 2%@55 7% 3% 10% 2%@62 6.75% * 3% 9.75% * *Rate subject to CalPERS Actuary change annually. Employee contribution required to be 50% of the actuary normal cost determined for the plan.
Employee PERS Contributions. Tier One and Two - Employees shall contribute nine percent (9%) for Public Safety, employee’s contribution. Tier Three –New members shall contribute fifty percent (50%) of the total normal cost, unless otherwise determined annually by ▇▇▇▇▇▇▇, of the PERS retirement plan.
Employee PERS Contributions. Tier One and Two – Classic Member Employee Contributions: Classic Members shall contribute seven percent (7%) of salary to the PERS retirement plan. Tier Three - New Member Employee Contributions: New Members shall contribute fifty percent (50%) of the total normal cost, unless otherwise determined annually by ▇▇▇▇▇▇▇, of the PERS retirement plan. Employee contributions paid by members will be deducted on a pre•tax basis, in accordance with IRC Section 414(h)(2).
Employee PERS Contributions. (a) Employees will be responsible for payment of the Employee contribution to the Public Employees Retirement System (PERS).
(b) In addition to the applicable required CalPERS employee contribution, APA members have agreed to share in the employer contributions as provided in Government Code Section 20516 (Employees Sharing Additional Cost)