Retirement Contributions. On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.
Retirement Contributions. Upon reemployment, laid off employees shall not be required to redeposit retirement contributions withdrawn at the time of layoff or subsequently; provided, however, that the employee may elect to redeposit said funds to the retirement system.
Retirement Contributions. The contributions to alternative retirement plans in-lieu of CalSTRS for adjunct faculty will be made equally by the District and the faculty member. The District shall ensure each adjunct faculty member has been notified of her/his option to become a member of CalSTRS as per Education Code section 22455.5 (b). Written acknowledgment by the employee shall be maintained in the employee's official personnel file.
Retirement Contributions. Employees' retirement contributions to SJCERA shall be made on a pre-tax basis. Tier I members contributions as determined annually by the plan actuary pursuant to Section 31621.3 for General Members of SJCERA Tier I, and pursuant to Section 31639.5 for Safety Members of SJCERA Tier I and expressed as a percentage of payroll shall be known as the “Basic Member Contribution Rate.” Employees who are members of SJCERA Tier I shall pay the Basic Member Contribution Rate applicable to their member category plus the increase in that rate as specified in Government Code Section 31631.5(a)(1), not to exceed 50% of the normal cost of benefits. The increase in the rate specified in Section 31631.5(a)(1) that is applicable to county peace officers shall be the increase in the rate applicable to all Safety Members of SJCERA Tier I. Tier II members shall pay member contributions pursuant to Government Code Section 7522.30, which shall be at least 50% of normal cost as determined annually by the plan actuary and expressed as a percentage of payroll. The County shall not pay any of the required member contribution.
Retirement Contributions. A. Members' normal and cost of living contribution rates will be established and adjusted subsequent to and in accordance with state law and actuarial recommendations adopted by the Retirement Board and the Board of Supervisors.
Retirement Contributions. On behalf of employees, the Universities will continue to “pick up” the six percent employee contribution, payable pursuant to the law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.
Retirement Contributions. Pursuant to applicable state and local laws, Court employees will continue to participate in the City and County of San Francisco Employees’ Retirement System (SFERS). Permanent employees shall participate from the date of their first day of employment. Temporary employees become eligible for participation upon the completion of 1040 hours within a consecutive 12 month period. Employees shall pay the employee’s retirement contribution obligation as similarly situated City and County of San Francisco employees, as determined by the Charter of the City and County of San Francisco for miscellaneous members. The Court shall continue to pay 0.5% for “old plan” members.
Retirement Contributions. The TIAA/CREF (Teachers Insurance and Annuity Association of America and the College Retirement Equities Fund) retirement plan presently in effect shall be continued and the Board shall take no action to decrease the benefits under the present retirement plan during the term of this contract. During the term of this Agreement, the Board contribution will be eight percent (8.0%) with all eligible new hires required to contribute six percent (6.0%) of their gross earnings amount. New hires are eligible to participate in the retirement plan at age twenty- five (25) with two (2) years of consecutive service. Participation is mandatory at age thirty (30).
Retirement Contributions. The School District shall make such contributions to the Public Employees’ Retirement Association and to the federal social security program as are required by law.
Retirement Contributions. The faculty member may or may not have retirement contributions made on his or her behalf by the University during the period of their employment under the Gradual Retirement Program. Eligibility for contributions depends on the employee’s individual retirement plan provisions and the employee’s receipt of retirement benefit payments.
