CalPERS Contribution. Calculation of the employee contribution toward normal cost will be administered as required by XxxXXXX. Safety Tier 1 and 2 members pay the nine percent (9%) employee portion of the CalPERS contribution. Safety Tier 3 members will pay fifty percent (50%) of the normal cost of their pension. The County agrees to continue the provisions contained in Section 414(h) (2) of the Internal Revenue Code concerning the tax treatment of employee retirement contributions to CalPERS.
CalPERS Contribution. Calculation of the employee contribution toward normal cost will be administered as required by XxxXXXX.
CalPERS Contribution. 17.29 The employee shall pay 100% (i.e., 8.0% of 8.0%) of his/her contribution to the California Public Employees Retirement System (CalPERS).
CalPERS Contribution. Section 8.01B (Treatment of Employees’ PERS Contributions) shall be null and void and replaced with the following:
CalPERS Contribution. A. Employee subject to Tier 1 and 2 shall pay the seven percent (7%) employee portion of the CALPERS contribution.
CalPERS Contribution. Safety Tier 1 members in the classifications of Sheriff’s Captain, Sheriff’s Lieutenant and Chief Investigator D.A.’s office, shall pay the nine percent (9%) employee portion of the CalPERS contribution. The County shall pay five percent (5%) employee portion of the CalPERS contribution for Safety Tier 1 members in the Probation Department. Probation Department employees in Safety Tier 1 hired after November 15, 2011 shall pay the full 9% employee portion of the CalPERS “Safety” contribution for years 0-5, or 130 pay periods. Effective the start of the 6th year, or pay period 131, the employee shall pay 4% and the County shall pay 5%. Each employee subject to safety Tier 3 will pay 50% of the normal cost of their pension. The County agrees to continue the provisions contained in Section 414(h) (2) of the Internal Revenue Code concerning the tax treatment of employee retirement contributions to CalPERS.
CalPERS Contribution. Employees in Tier 1 and Tier 2 shall pay the seven percent (7%) employee portion of the CalPERS contribution. Each employee subject to Tier 3 will pay fifty percent (50%) of the employee’s normal pension.
CalPERS Contribution. 1. Non-Safety employees subject to Tier 1 and 2 will pay the 7% employee portion of the CalPERS contribution.
CalPERS Contribution. Safety Tier 1 and 2 pay the nine percent (9%) employee portion of the CalPERS contribution. Safety Tier 3 pays fifty percent (50%) of the normal cost of their pension to the extent required by law.
CalPERS Contribution. Any employee hired after January 1, 2013 and who meets the definition of a “new member” as defined by Government Code section 7522.04(f) will be required to pay 50% of the “normal cost” of the defined benefit, rounded to the nearest quarter of 1 percent, or the current contribution rate of similarly situated employees, whichever is greater, as specified in Government Code section 7522.30. Any new member who has not become vested by having paid the employee’s contribution to CalPERS for the first five (5) years of continuous service as of January 1, 2013, will be required to pay the employee’s share of the contribution (EPMC) to fund a portion of the cost of the 2.7% at age 57 retirement formula an amount equal to 12% of compensation earnable on a pre-tax basis for safety, as specified in Government Code Section 20516.5(f). Retirees will be eligible to begin receiving retirement benefits once they are deemed qualified in accordance with the CalPERS retirement system. Any employee who established CalPERS membership prior to January 1, 2013 who is already vested after having paid the employee’s contribution to CalPERS for the first five (5) years of continuous service, will be required to pay the employee’s share of the contribution (EPMC) to fund a portion of the cost of the 2% at 50 retirement formula an amount equal to 9% of compensation earnable on a pre-tax basis, in accordance with Section 20516(f). Effective January 1, 2018, the employee’s pre-tax contribution pursuant to Section 20516(f) shall be increased such that the employee will be required to contribute a full 12% of pay for safety members, as specified in Government Code section 20516.5. Retirees will be eligible to begin receiving retirement benefits once they are deemed qualified in accordance with the CalPERS retirement system.
