Retirement Plan for Employees Hired On or After Sample Clauses

Retirement Plan for Employees Hired On or After. January 1, 2013, Who Are Not Classic Members Employees hired on or after January 1, 2013 who are new members, as defined by CalPERS, shall receive the 2.7% at 57 benefit. For purposes of determining a retirement benefit, final compensation for unit members covered by Section B.2. shall mean the highest annual average pensionable compensation earned during thirty-six (36) consecutive months of service. As required by Government Code §7522.30, unit members covered by Section B.2. shall pay, through payroll deduction, fifty percent (50%) of the total normal cost of their retirement plan as determined annually by CalPERS.
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Retirement Plan for Employees Hired On or After. January 1, 2013, Who Are Not Classic Members Employees hired on or after January 1, 2013 who are new members, as defined by XxxXXXX, shall receive the 2.7% at 57 benefit. For purposes of determining a retirement benefit, final compensation for unit members covered by Section B.2. shall mean the highest annual average pensionable compensation earned during thirty-six (36) consecutive months of service. As required by Government Code §7522.30, unit members covered by Section B.2. shall pay, through payroll deduction, fifty percent (50%) of the total normal cost of their retirement plan as determined annually by XxxXXXX.

Related to Retirement Plan for Employees Hired On or After

  • Compensation for Employees Employees shall receive compensation at the biweekly or hourly rate for the range and step or flat rate assigned to the class in which they are employed.

  • Probation for Newly Hired Employees (a) The Employer may reject a probationary employee for just cause. A rejection during probation shall not be considered a dismissal for the purpose of Article 11.2

  • SALARY DETERMINATION FOR EMPLOYEES IN ADULT EDUCATION PCA Article B.3 does not apply in School District No. 34 (Abbotsford).

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Holiday Pay for Employees Laid Off An employee who is laid off at the close of business the day before a holiday who has worked not less than five (5) previous consecutive work days shall be paid for the holiday.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Retroactive Pay for Terminated Employees An employee who has retired or severed his/her employment between the termination date of this Agreement and the effective date of the new Agreement shall receive the full retroactivity of any increase in wages, salaries or other benefits.

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