Common use of PERS Contribution Clause in Contracts

PERS Contribution. Each unit member shall pay the full member contribution to PERS equal to eight percent (8%) of the compensation paid the member for service rendered, with state and federal income tax on the PERS members contribution deferred to the extent permitted by Internal Revenue Code, 26 USC Section 414(h)(2). Effective July 1, 2011, all employees in the bargaining unit shall pay an additional four percent (4%) contribution toward the employee cost of PERS, with state and federal income tax deferred to the extent permitted by Internal Revenue Code, 26 USC Section 414(h)(2). The total employee contribution shall be twelve percent (12%) of eligible compensation, effective on July 1, 2011. The additional four percent (4%) contribution will terminate June 30, 2013.

PERS Contribution. Each unit member shall pay the full member contribution to PERS equal to eight percent (8%) of the compensation paid the member for service rendered, with state and federal income tax on the PERS members contribution deferred to the extent permitted by Internal Revenue Code, 26 USC Section 414(h)(2). Effective July 1, 2011, all employees in the bargaining unit shall pay an additional four percent (4%) contribution toward the employee cost of PERS, with state and federal income tax deferred to the extent permitted by Internal Revenue Code, 26 USC Section 414(h)(2). The total employee contribution shall be twelve percent (12%) of eligible compensation, effective on July 1, 2011. The additional four percent (4%) contribution will terminate June 30, 2013.