RETIREMENT COST SHARING. a. Fiscal Year 2016-2017: No additional retirement pick-up. b. Fiscal Year 2017-2018: Effective January 1, 2018, all employees will pay an increase in their retirement contribution by two percent (2%). c. Fiscal Year 2018-2019: Effective the first pay period of July 2018, all employees will pay an additional increase in retirement contribution by two percent (2%). d. Effective June 30, 2019, all employees will pay fifty percent (50%) of the combined employee and employer normal cost as defined in the County Employees’ Retirement Law of 1937.
Appears in 2 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement
RETIREMENT COST SHARING. a. Fiscal Year 2016-2017: No additional retirement pick-up.
b. Fiscal Year 2017-2018: Effective January 1, 2018, all employees will pay an increase in their retirement contribution by two percent (2%).
c. Fiscal Year 2018-2019: Effective the first pay period of July 2018, all employees will pay an additional increase in retirement contribution by two percent (2%).
d. Effective June 30, 2019, all employees will pay fifty percent (50%) of the combined employee and employer normal cost as defined in the County Employees’ ' Retirement Law of 1937.
Appears in 1 contract
Sources: Memorandum of Understanding