Retirement Contribution Offsets. Upon termination of employment, an employee will have no vested right in employee pension contribution offsets contributed by City. Substitution of this portion of the employees’ contribution by a City payment will not decrease the total amount applied toward the required retirement contribution and will not affect retirement benefits. Provided, however, such payment shall not exceed any employee’s total contribution to the Retirement System.
Appears in 3 contracts
Samples: Memorandum Of, Memorandum Of, Memorandum Of
Retirement Contribution Offsets. Upon termination of employment, an employee will have no vested right in employee pension contribution offsets contributed by the City. Substitution of this portion of the employees’ contribution by a City payment will not decrease the total amount applied toward the required retirement contribution contribution, and will not affect retirement benefits. Provided, however, such payment shall not exceed any employee’s total contribution to the Retirement Systemsystem.
Appears in 3 contracts
Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding
Retirement Contribution Offsets. Upon termination of employment, an employee will have no vested right in employee pension contribution offsets contributed by City. Substitution of this portion of the employees’ contribution by a City payment will not decrease the total amount applied toward the required retirement contribution contribution, and will not affect retirement benefits. Provided, however, such payment shall not exceed any employee’s total contribution to the Retirement System.
Appears in 2 contracts
Samples: Memorandum of Understanding, Memorandum of Understanding
