MCERA definition
Examples of MCERA in a sentence
The employee is responsible for paying the employee contribution of half of the total normal cost of the plan, as defined by MCERA, through a payroll deduction.
Employees hired by the City on or after January 1, 2013 who are defined as “new members” of MCERA in accordance with the Public Employees’ Pension Reform Act (PEPRA) of 2013, shall be enrolled in the MCERA 2% @ 62 plan for Miscellaneous members.
The parties acknowledge that a spouse of any of the foregoing persons may receive floor brokerage commissions in respect of trades effected pursuant to the Advisor’s Trading Approach on behalf of Series J, which payment shall not violate the preceding sentence.
Safety employees hired on or after July 1, 2011 will receive an MCERA retirement benefit at the formula 3%@55 calculated based on the average of their highest three years of compensation, with a 2% COLA benefit cap.
Non-safety employees hired on or after July 1, 2011 will receive an MCERA retirement benefit at the formula 2%@55 calculated based on the average of their highest three years of compensation, with a 2% COLA benefit cap.
The payment will be made directly to the Marin County Employee Retirement Association (MCERA).
All employees who work seventy-five percent (75%) or more of full time and are less than sixty (60) years old at the time of hire shall be members of the Marin County Retirement Plan (MCERA) governed by the “County Employees Retirement Law of 1937." Eligible employees hired prior to July 1, 1980 were enrolled in Tier 1 unless they elected the conversion option to Tier II.
Employees represented by SEIU who retire from the Marin County Employees’ Retirement Association (MCERA) within 120 days of leaving their City of San ▇▇▇▇▇▇ position (and who comply with the appropriate retirement provisions under the MCERA laws and regulations) are eligible to continue in the City’s retiree group health insurance program offered through PEMHCA.
For employees hired after January 1, 2013 without reciprocity from another public agency system as determined by MCERA: In compliance with the State of California’s Pension Reform Act of 2013, the County will make no contribution towards the employee’s retirement contribution.
Effective the pay period including September 1, 2013, all current and “PEPRA” (“classic” and “new”) bargaining unit members shall contribute an additional 1% of pensionable compensation to MCERA, over and above the employee’s contribution noted above.