Miscellaneous Employee Cost Sharing of Additional Benefits Sample Clauses

Miscellaneous Employee Cost Sharing of Additional Benefits. Effective the first full pay period in January 2017, each bargaining unit member covered by this MOU shall pay, through payroll deduction, an additional three percent (3%) of PERSable compensation towards the City’s costs, in addition to the amounts specified in 6.5.A. and B., toward the normal costs of pension benefits as permitted by Government Code Section 20516, and shall extend beyond the expiration of this MOU. If the contract amendment between the City and CalPERS is not completed as described in Section 6.5.C., the cost sharing, as described in this section, shall be implemented outside of a CalPERS contract amendment as authorized by Government Code Section 20516(f), and shall extend beyond the expiration of this MOU. Effective September 17, 2019, each bargaining unit member covered by this MOU shall pay, through payroll deduction, an additional three and sixty-eight hundredths percent (3.68%) of PERSable compensation towards the City’s costs, for a total of six and sixty- eight hundredths percent (6.68%) in addition to the amounts specified in 6.5.A. and B., toward the normal costs of pension benefits as permitted by Government Code Section 20516, and shall extend beyond the expiration of this MOU. If the contract amendment between the City and CalPERS is not completed as described in Section 6.5.C., the cost sharing, as described in this section, shall be implemented outside of a CalPERS contract amendment as authorized by Government Code Section 20516(f), and shall extend beyond the expiration of this MOU.
Sample 1
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Related to Miscellaneous Employee Cost Sharing of Additional Benefits

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