PERS Member Contribution Clause Samples
The PERS Member Contribution clause defines the obligation of an employee or employer to contribute a specified portion of earnings to the Public Employees Retirement System (PERS). Typically, this clause outlines the percentage of salary to be withheld, the timing of contributions, and whether the employer or employee is responsible for making the payments. Its core function is to ensure compliance with retirement system requirements, facilitating proper funding of employee retirement benefits and clarifying financial responsibilities between the parties.
PERS Member Contribution. Each represented employee covered by this Section 7.1 shall continue to 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).
PERS Member Contribution. As required by Government Code Section 7522.30, each represented employee covered by this Section 7.3 shall pay, through payroll deductions, fifty percent (50%) of the normal cost of the two percent at sixty two (2% at 62) retirement plan as determined by PERS, with state and federal income tax on the PERS member’s contribution deferred to the extent permitted by Internal Revenue Code, 26 USC Section 414(h)(2).
PERS Member Contribution a. Employees in all represented classes in Pension Groups A and B described above will make the 9% PERS member contributions by payroll deduction.
b. Employees in all represented classes in Pension Group C described above shall pay the employee contribution required by the Public Employees’ Pension Reform Act, currently calculated at fifty percent (50%) of the normal cost.
c. When employees pay their PERS Member Contribution pursuant to section 3a and 3b above, the City will provide for member contributions to be made as allowed under provisions of IRS Code Section 414(h)(2).
PERS Member Contribution. 21.3.1 - All Employees in Pension Groups A and B described above will make the 12% PERS member contributions by payroll deduction.
21.3.2 - All Employees in Pension Group C described above will pay the employee contribution required by PEPRA, subject to all provisions of that law.
21.3.3 - When employees pay their PERS Member Contributions pursuant to sections 21.3.1 and 21.3.2 above, the Employer will provide for member contributions to be made as allowed under provisions of IRS Code Section 414(h)(2)