Tier III Clause Samples
The "Tier III" clause establishes a specific level or category within a multi-tiered system, often used to define standards, requirements, or service levels. In practice, this clause might set out the criteria, obligations, or benefits associated with the third tier, such as higher performance benchmarks, additional responsibilities, or enhanced support compared to lower tiers. Its core function is to clearly differentiate between levels within a structured framework, ensuring that parties understand the expectations and entitlements associated with Tier III, thereby promoting clarity and effective management of obligations.
Tier III. For unit members hired on or after January 1, 2013, such plan shall be 2% at sixty-two (62) and the “highest consecutive three year average” amendment.
Tier III. Subject to the enactment of enabling legislation amending the 1937 Employees’ Retirement Act to allow such election, the County will permit certain Tier II employees to elect a Tier III Retirement Plan under the following conditions:
1. The County and the Labor Coalition must agree on the wording of the legislation and both parties must support the legislation.
2. Except for disability, all benefit rights, eligibility for and amounts of all other benefit entitlements for Tier III, from and after the date of implementation, shall be the same as Tier I. The disability benefits for Tier III shall be the same as the current Tier II disability provisions.
3. The amount of the employee's required retirement contribution shall be established by the County Employees' Retirement Association and shall be based on the employee’s age at entry into the retirement system.
4. Employees represented by the Labor Coalition and its member employee organizations (herein referred to as “Labor Coalition”) enrolled in Tier II who have attained five (5) years of retirement credited service as of the effective date of the enabling legislation shall have a six (6) month period after such date to make a one time irrevocable election of the Tier III Retirement Plan expressed herein subject to action by the Board of Supervisors to implement the Plan. Thereafter, employees represented by the Labor Coalition enrolled in Tier II who have attained five (5) years of retirement credited service shall have a ninety (90) day period to make a one time irrevocable election of the Tier III Retirement Plan expressed herein.
a. The County's employer contributions and subvention of employee contributions for Labor Coalition employees electing Tier III which exceed those which would be required for Tier II membership shall:
1) be funded by reducing the general wage increase agreed upon to be effective October 1, 1997, and the pay equity amounts attributable thereto, by a percentage sufficient to reduce the County’s wage obligation by $3 million dollars year; and the general wage increase of all employees represented by the Labor Coalition shall be reduced accordingly; and
2) in the event the County’s costs attributable to the creation and operation of Tier III exceed $3 million per year or the County Employees’ Retirement Association’s actuaries determine in future years that the County’s retirement costs have increased and that the increase is attributable to the creation of Tier III and/or the imp...
Tier III. [PEPRA] For Employees hired on or after January 1, 2013 and determined to be “new members” as defined by PEPRA (see Gov’t Code section 7522.04(f)(1)-(3) and CalPERS, the following shall apply: (1) a 2.7% @ 57 retirement formula; (2) no EMPC; (3) the use of an average highest three consecutive years calculation to determine final compensation; (4) employees shall pay 50% of the total normal cost of their pension, as set forth in PEPRA and determined by ▇▇▇▇▇▇▇; (5) pension capped as set forth in PEPRA (Gov’t Code section 7522.10(c)(2)); and (6) no blended health care rate for Employees under this Tier. The City will provide the following CalPERS contract options:
A. Post-Retirement Survivor Allowance
B. Credit for Unused Sick Leave C. 4th Level 1959 Survivor Benefit.
Tier III. Subject to the enactment of enabling legislation amending the 1937 Employees’ Retirement Act to allow such election, the County will permit certain Tier II employees to elect a Tier III Retirement Plan under the following conditions:
A. The County and the Labor Coalition must agree on the wording of the legislation and both parties must support the legislation.
B. Except for disability, all benefit rights, eligibility for and amounts of all other benefit entitlements for Tier III, from and after the date of implementation, shall be the same as Tier I. The disability benefits for Tier III shall be the same as the current Tier II disability provisions.
Tier III. Employees hired on or after January 1, 2013, shall be subject to the Public Employee Pension Reform Act, (“PEPRA”; Assembly Bill 340) including but not limited to:
Tier III. The minimum statutory employee contribution for employees in Tier III is subject to the provisions of the Public Employees’ Pension Reform Act (PEPRA) and equals 50% of the “total normal cost” as determined by PERS. For FY15-16, the employee safety rate is 11.25% and is subject to change based on annual PERS actuarial valuations. Effective the pay period that includes January 1, 2015 Tier III members will contribute the required 11.25% member contribution. In addition, Tier III members shall contribute 2.35% of pensionable compensation toward retirement costs pursuant to Government Code § 20516(f), for a total contribution of 13.6%. Effective the pay period that includes January 1, 2016, Tier III members will contribute the required 11.25% member contribution. In addition, Tier III members shall contribute 3.35% of pensionable compensation toward retirement costs pursuant to Government Code § 20516(f), for a total contribution of 14.6%. In the event the member contribution rate for employees in Tier III shall become greater or less than 11.25%, the additional contribution made by the employee under 20516(f) will be increased or decreased accordingly so that the total employee contribution is the same percentage contribution made by Tier I and II members.
Tier III. If the Actual Project Cost exceeds the combined TIER I and TIER II budget of $27,930,000, SLC shall provide TIER III funding as follows: Local Contribution Federal Match (approximate) Total Funding SLC As necessary to fund the Actual Project Cost, up Up to $2,743,500 $3,923,500, maximum to $1,180,000 Total (together with TIER I and TIER II funding) $9,580,000, maximum local $22,273,500, maximum $31,853,500, maximum
Tier III. Subject to the enactment of enabling legislation amending the 1937 Employees’ Retirement Act to allow such election, the County will permit certain Tier II employees to elect a Tier III Retirement Plan under the following conditions:
a. The County and the Labor Coalition must agree on the wording of the legislation and both parties must support the legislation.
b. Except for disability, all benefit rights, eligibility for and amounts of all other benefit entitlements for Tier III, from and after the date of implementation, shall be the same as Tier I. The disability benefits for Tier III shall be the same as the current Tier II disability provisions.
c. The amount of the employee's required retirement contribution shall be established by the County Employees' Retirement Association and shall be based on the employee’s age at entry into the retirement system.
d. Employees represented by the Labor Coalition and its member employee organizations (herein referred to as “Labor Coalition”) enrolled in Tier II who have attained five (5) years of retirement credited service as of the effective date of the enabling legislation shall have a six (6) month period after such date to make a one time irrevocable election of the Tier III Retirement Plan expressed herein subject to action by the Board of Supervisors to implement the Plan.
Tier III. The Colocated Sites include multiple Tier III Data Centres and the first Tier III designed and constructed Uptime Institute-certified Data Centre in Canada.
Tier III. Unit members hired on or after January 1, 2013 are “new members” for purposes of retirement pension benefits pursuant to the Public Employees’ Pension Reform Act of 2013. Generally, this includes employees that were hired into a regular position on or after January 1, 2013 or former members who have more than a six-month break in service. CalPERS will determine who is a new member in compliance with the law.
16.1.3.1 As defined by PEPRA and/or California Government Code Section 7522.04(f), unit members shall be required to pay a CalPERS employee contribution in an amount equal to 50% of the normal cost rate, up to a maximum of 12%, for the Defined Benefit Plan provided or by PEPRA, in which the new unit member is enrolled, rounded to the nearest quarter of 1% or the current contribution rate of similarly situated employees, whichever is greater, pursuant to Government Code section 7522.30.
16.1.3.2 New (PEPRA) unit members shall be enrolled in the 2.7% at 57 retirement formula for Local Safety Members. New members optional benefits provided by CalPERS under the City’s contract for Local Miscellaneous Members, as provided for in Government Code Section 7522.25(e). PEPRA unit members final compensation is a measurement period of 36 consecutive months as set forth in Government Code Section 7522.32(a), and their retirement benefits shall be calculated based on “pensionable compensation” (Section 7522.10) rather than compensation earnable (Section 20636).
16.1.3.3 The employee contribution for new (PEPRA) unit members shall be one-half the normal cost as determined by CalPERS. As of the ratification of this agreement, the required employee contribution for new members is 12.75%. This amount will be adjusted periodically by CalPERS.