Pension Pick-up. Effective throughout the life of this Agreement, the City shall pay one percentage (1%) point of the employee's state-mandated contribution to the Police and Fireman's Pension Fund. The remaining portion of the employee's contribution shall be paid by the employee. However, the City shall "shelter" members pension contribution for personal income tax purposes.
Pension Pick-up. The City will continue to provide a pension pick-up plan, whereby employee contributions will be made from pre-tax earnings, as long as it continues to be permitted by the Internal Revenue Service Code.
Pension Pick-up. Effective the first full pay period on or after adoption of this MOU by the Board of Supervisors (June 25, 2013), The County will cease providing the one percent (1%) pick up of the employee’s share towards Retirement.
Pension Pick-up. Section 1 – Pension Pick-Up – The City agrees to “pick-up” the statutorily required contribution to the applicable pension fund by the salary reduction method that the individual employee has been paying pursuant to present Federal and Ohio laws. Allowing employees to contribute in this manner will result in a deferral of federal and state income taxes on a portion of their wages and a reduction in taxable income.
Pension Pick-up. Effective throughout the life of this Agreement, the City shall pay one percentage (1%) point of the employee's state mandated contribution to Ohio Public Employees Retirement System (OPERS). The remaining portion of the employee's contribution shall be paid by the employee. However, the City shall "shelter" members pension contribution for personal income tax purposes.
Pension Pick-up. The Board shall continue to pay the faculty member's state-mandated contribution (currently at 8%) to the State Universities Retirement System (SURS) out of the faculty member's salary as set forth herein.
Pension Pick-up. The Township will maintain a fringe benefit "pick-up" of the member contribution to the Public Employees Retirement System (Law Enforcement) (hereinafter referred to as "PERS-LE") under the following terms and conditions:
Pension Pick-up. 9.1.1 The County agrees to continue Employer Paid Member Contributions (EPMC) for a portion of the Tier 1 and Tier 2 employees’ contribution to the Pension Trust whereby the County will pay nine and twenty-nine hundredths percent (9.29%) of the pensionable wages to the County’s Retirement System on behalf of each such employee. As set forth in the Retirement Plan, the EPMC amount is pensionable income.
Pension Pick-up. Pursuant to this Section, a portion of the contribution made by the employee to the Police and Fireman’s Disability and Pension Fund (“the Fund”), such portion being equal to six percent (6%) of the employee’s earned compensation, shall be picked up (assumed and paid) on behalf of the employee by the City, and in lieu of payment by the employee. The remaining portion of the employee contribution shall continue to be paid by the employee.
Pension Pick-up. The City shall “pick up” (assume and pay) on behalf of each member the percentage of the member's required contribution to the Ohio Police and Fire Pension Fund (hereinafter, "Fund") as set forth below: Beginning July 1, 2011 – 6.5% For the year 2012 – 3.5% For the year 2013 and thereafter – 0% Such payment shall be made by the City in lieu of payment by the member. The provisions of this Article shall apply uniformly to all members, and no member shall have the option to elect a wage increase or other benefit in lieu of the payment provided for herein. The City shall in reporting and making remittance to the Fund report that the member’s contribution has been made as provided by statute.
