Pension Contributions definition
Examples of Pension Contributions in a sentence
The City will provide the following defined benefit formulas for local miscellaneous employees: Tier 1 Local Miscellaneous 3% @ 60 Tier 2* Local Miscellaneous 2% @ 60 Tier 3** Local Miscellaneous 2% @ 62 *New CalPERS members on or after 04/22/2011 through 12/31/2012 **New CalPERS members on or after 01/01/2013 Pension Contributions: PEPRA provides that equal sharing of normal costs shall be the standard.
NOTE: for Local 721 only, deductions will be forwarded with the Welfare and Pension Contributions to the Fund Administrator.
Fiscal payment is a one-time payment not applicable to any benefits or premiums including but not limited to Pension Contributions, Vacation Pay, Public Holiday Pay, Payment in Lieu of Benefits, etc.
Student employees will be subject to all provisions set forth in the current Agreement, with the following exceptions: they shall not receive Health & Welfare, Pension Contributions, Holiday Pay, FTO or any other form of paid leave.
By doing this you will save Income Tax, National Insurance, and Pension Contributions (if applicable) on the amount of salary sacrificed.